What these notes do
These Explanatory Notes relate to the Financial Services Bill as introduced in the House of Lords on 14 January 2021 (HL Bill 162).
· These Explanatory Notes have been prepared by HM Treasury in order to assist the reader and to help inform debate on the Bill. They do not form part of the Bill and have not been endorsed by Parliament.
· These Explanatory Notes explain what each part of the Bill will mean in practice; provide background information on the development of policy; and provide additional information on how the Bill will affect existing legislation in this area.
· These Explanatory Notes might best be read alongside the Bill. They are not, and are not intended to be, a comprehensive description of the Bill.