Queen's Speech: Financial Services Regulation Bill

This speech was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Notes on: "Legislation will reform the framework for financial services regulation to learn from the financial crisis."

The purpose of the Bill

  • The Bill would give the Bank of England control of macro-prudential regulation and oversight of micro-prudential regulation.

The main benefits of the Bill

  • To ensure that aggregate risk and imbalances in the economy are properly monitored and managed, thereby helping maintain financial stability.

The main elements of the Bill

  • Reforming the regulatory framework so that the Bank of England is responsible for macro-prudential regulation, and has oversight of micro-prudential regulation.
  • HM Government Coalition Programme, 20 May 2010
  • Coalition Agreement, 11 May 2010
  • Change for the Better, Conservative Paper, April 2010
  • Plan for Sound Banking, Conservative Paper, July 2009

Existing legislation in this area is

  • Financial Services Act 2010
  • Banking Act 2009
  • Financial Services and Markets Act 2000


The Bill applies to the UK. All provisions relate to financial services and are therefore reserved.