The Future Framework for Regulation of Financial Services Contents



Introduction and Scope

1 The Treasury’s proposed future framework

Existing UK financial services legal framework

Context of EU legal framework

The proposal

Activity-based regulation

Moving on-shored rules into statute

UK-derived rules

Ministerial oversight of regulator proposals

Is there a need for change?

Regulator views

Activity-Based Approach views

Is there a need for change?

Regulator views

Industry views

The European Union approach to regulation

The Financial Ombudsman Service

2 Future scrutiny of financial services

Proposed legal structure of framework

Scrutiny response to new framework

Previous EU Parliamentary scrutiny of financial services

Ex-ante scrutiny

Options for how Parliament should scrutinise financial services

A new financial services committee

A Joint Committee

Independent organisation to carry out scrutiny and report back to Parliament

The status quo


A Treasury sub-committee

Conclusions and recommendations

Formal minutes


Published written evidence

List of Reports from the Committee during the current Parliamentary session

Published: 6 July 2021 Site information    Accessibility statement