Examination of Witnesses

Part of Financial Services Bill – in a Public Bill Committee at 10:25 am on 17 November 2020.

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Simon Hills:

I do not think that it is in the interests of the UK financial services industry and banks to introduce a divergent regime. We are talking about the importance of the City, and we want people to bring their money to the City for the right reasons, not the wrong ones. UK Finance members are certain that it is in no one’s interest to diverge from internationally agreed frameworks because that creates the risk that we bring in the wrong sort of people.