Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to improve the regulatory framework for the financial services sector.

The Financial Services and Markets Bill seizes the opportunities of Brexit, tailoring financial services regulation to UK markets to bolster our competitiveness and deliver better outcomes for consumers and businesses.

The Bill implements the outcomes of the Future Regulatory Framework Review, revoking retained EU law, so it can be replaced with an approach designed for the UK.

The Bill introduces secondary growth and competitiveness objectives and measures to ensure clear accountability, appropriate democratic input, and transparent oversight of the regulators.