The Financial Services and Markets Bill: after the Public Bill Committee

A significant piece of legislation to reform the regulation of financial services in the UK is wending its way through the Westminster process, with a largely unscathed version emerging from the Public Bill Committee. Emma Radmore examines what was controversial, what wasn't and what the Bill looks like now.

Emma Radmore(legal director) is a member of Womble Bond Dickinson's financial services team in London. Contact her onemma.radmore@wbd-uk.com.

The Financial Services and Markets Bill had a busy few weeks. Each clause and schedule of the Bill and several suggested amendments and new clauses were the subject of debate in the Public Bills Committee in the Commons, as the Bill continued its legislative journey. Over five days' worth of sittings the Committee heard evidence from regulators, industry associations and experts, and discussed the wide range of proposals in the Bill. The Committee sitting ended on 3 November and we now have a new version of the Bill for the Report stage.