Financial Services Bill published – the next step on the road to UK regulatory reform

The Government recently published the Financial Services Bill (the Bill), together with a new approach document. This is the latest step on the road to reforming the regulation of the UK’s financial services industry.

A recurring message is that cultural change is needed across the industry. Firms must prepare for a more intrusive, judgment-led and forward-looking approach to risk and regulation. The days of tick-box compliance are well and truly over.

Although the Bill is substantively the same as the previous draft released in June 2011, there are some key changes…

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