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Detail of outcome
This document provides a summary of the key themes raised by respondents in response to the questions in the consultation and notes the government’s final policy position on the Future Regulatory Framework Review reforms. The government is legislating for these reforms through the Financial Services and Markets (FSM) Bill and further detail is available in the accompanying Bill documents.
The Future Regulatory Framework (FRF) Review was established to consider how the financial services regulatory framework should adapt to be fit for the future, and in particular to reflect the UK’s new position outside of the EU.
In his speech at Mansion House on 1 July 2021, the Chancellor set out the government’s vision for an open, green and technologically advanced financial services sector that is globally competitive and acts in the interests of communities and citizens across the UK. Delivering the outcomes of the FRF Review is a key part of achieving this vision.
This document sets out the government’s response to the feedback received on the previous consultation. It makes a series of proposals to deliver the intended outcomes of the FRF Review, building on the strengths of the UK’s existing framework.
This consultation will remain open for three months, and close on 09 February 2022. Please submit your responses to FRF.Review@hmtreasury.gov.uk.