(De) Regulatory Reform for UK Financial Services Sector

Joanna Gray, University of Newcastle joanna.Gray@newcstle.ac.uk

The De-regulatory Agenda

On 5 December 2005 the Chancellor made his Pre-Budget statement to the House of Commons and highlighted some proposed changes to the FSMA 2000 legislative framework for UK financial services regulation. Among the measures he outlined under the banner of Meeting the Productivity Challenge through “removing costs on business by removing unnecessary regulatory burdens” were ten sets of amendments to the Financial Services and Markets Act 2000 which represent the culmination of a two-year review investigating the need for changes to that Act.