Capital Markets: Regulation

Treasury written question – answered at on 21 July 2022.

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Photo of Pat McFadden Pat McFadden Shadow Chief Secretary to the Treasury

To ask the Chancellor of the Exchequer, if he will publish a timeline for taking forward reforms to the UK’s financial services regulatory framework for capital markets.

Photo of Tulip Siddiq Tulip Siddiq Shadow Minister (Treasury)

To ask the Chancellor of the Exchequer, if he will provide a timeline for taking forward reforms to the UK’s financial services regulatory framework for capital markets.

Photo of Richard Fuller Richard Fuller The Economic Secretary to the Treasury

As the Chancellor laid out in his speech at Mansion House on Tuesday 19th July, the Government will take forward reforms to the UK’s regulatory framework for capital markets in the Financial Services and Markets Bill.

In particular, the Bill will increase the competitiveness of our capital markets, allowing us to reform the Prospectus Regime, as recommended by Lord Hill. It will also take forward outcomes of the Wholesale Capital Markets review, stripping away poorly crafted EU rules like the double volume cap and the share trading obligation.

The roadmap for the delivery of the full set of reforms under the WMR is set out in detail in the recent consultation and consultation response document, which are both available here: https://www.gov.uk/government/consultations/uk-wholesale-markets-review-a-consultation.

While the Government has set out its prioritisation for its capital markets reforms, the exact timeline for delivery will rely on Parliamentary timetabling.

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