UK Financial Services Bill Moves to Parliament #
The UK government has introduced the Financial Services and Markets Bill to Parliament, setting out changes to financial regulation, consumer credit, complaints handling, payment services and access to finance. The Bill includes measures on consumer redress, simpler terms and conditions, wider access to credit unions and potential protections for face-to-face banking services
The changes matter because they would reshape parts of the UK’s financial regulatory structure. The Payment Systems Regulator’s responsibilities would be absorbed into the FCA, the Senior Managers and Certification Regime burden would be reduced, and the statutory framework for bank ring-fencing would be updated.