Tyrie: Financial Services Bill being rushed

Jenna Towler
clock

The Financial Services Bill is being "rushed" through Parliament without proper consideration being given to proposed changes, Andrew Tyrie has said.

The chairman of the Treasury Select Committee made the comments as amendments to the Bill, which will bring in legislation governing the two bodies set to replace the Financial Services Authority (FSA), were debated in the House of Commons. Tyrie said: "This is rushed. The House of Lords completed its consideration of the Bill only last Wednesday. Big changes have been made. "In areas where amendments have been tabled - such as requiring the Bank of England to commission retrospective reviews of its own performance and to publish records of court meetings - the Financial Services Bil...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

SDR extension plans will ensure 'uniform standard' for portfolios

SDR extension plans will ensure 'uniform standard' for portfolios

'Retail-focused firms are also facing a short timeline to prepare'

Cristian Angeloni
clock 24 April 2024 • 4 min read
FCA proposes advisers and platforms 'must' communicate SDR labels

FCA proposes advisers and platforms 'must' communicate SDR labels

Distributors also must provide access to consumer-facing disclosures

Isabel Baxter
clock 23 April 2024 • 1 min read
Scenario modelling: Meeting the FCA's retirement expectations

Scenario modelling: Meeting the FCA's retirement expectations

Meeting regulatory standards and maximising good client outcomes

Stephen Ford
clock 22 April 2024 • 5 min read