UK as a Financial Services Hub — [Graham Stringer in the Chair]

Part of the debate – in Westminster Hall at 9:30 am on 6th February 2019.

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Photo of Craig Tracey Craig Tracey Conservative, North Warwickshire 9:30 am, 6th February 2019

My hon. Friend is making a powerful case. His point about regulation is critical to ensuring our future success, which will be underpinned by proportional regulation. Does he agree that we need to give the regulator a function as a promoter of the industry? If it had to promote the industry across the world, it would have to understand better what it regulates. The rules that apply to insurance do not necessarily apply to banking; those industries are regulated very differently across the world. The promotion aspect is critical.