International Regulatory Strategy Group
Published 26 Mar 2021
The International Regulatory Strategy Group submitted a response to the HM Treasury Financial Services Future Regulatory Framework Review: Phase II Consultation.
The regulation and supervision of the UK’s financial services sector has a significant impact on the ability of firms to meet the needs of their customers, on the country’s position as the leading global financial centre, and on the nation’s broader economic and social wellbeing. The response points to the changing context in which financial-services regulation operates and builds on two reports published on the subject in 2017 and 2020.
The architecture for regulating finance after Brexit (2017)
The architecture for regulating finance after Brexit: Phase II (2020)
The response highlights the need to develop a framework that recognises and responds to three critical features of the post-EU landscape:
It sets out a number of options for improving the effectiveness and efficiency of the UK’s regulatory framework which we hope would form one part of a wider strategy on financial services.
We would like to thank the members of the IRSG Architecture for regulating finance workstream for their input into the submission and in particular Linklaters LLP and M&G for their extensive work on these issues.