header-logo header-logo

Home Login E-newsletter About us

A blueprint for reform

© Copyright LexisNexis 2026. All Rights Reserved.
30 June 2011 / Jane Mayfield
Issue: 7472 / Categories: Features , LexisPSL
printer mail-detail

Jane Mayfield reports on the proposed reforms to financial regulation

In June, HM Treasury published its white paper on the proposed changes to the regulation of the financial sector. The new approach to financial regulation: the blueprint for reform provides detail on how the government proposes to strengthen the financial system by promoting the role of judgment and expertise.

The paper includes a draft financial services Bill which contains some of the provisions needed to give effect to the proposed reform by amending existing legislation, eg the Financial Services and Markets Act 2000 (FSMA 2000) and the Bank of England Act 1998. This approach aims to minimise the extent to which regulated firms and other users of such legislation have to deal with changes, and to allow a more focused scrutiny of the proposed key changes to the regulatory regime by parliament and stakeholders.

The government proposes to establish a Financial Policy Committee (FPC), a Prudential Regulation Authority (PRA), and a Financial Conduct Authority (FCA).

Financial Policy Committee

The FPC will

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Read All
Sponsored by
Carey Olsen—Kim Paiva

Carey Olsen—Kim Paiva

Group partner joins Guernsey banking and finance practice

Morgan Lewis—Kat Gibson

Morgan Lewis—Kat Gibson

London labour and employment team announces partner hire

Foot Anstey McKees—Chris Milligan & Michael Kelly

Foot Anstey McKees—Chris Milligan & Michael Kelly

Double partner appointment marks Belfast expansion

NEWS
Read All
Public Accounts Committee warn of ‘extinction’ risk for legal aid
The Ministry of Justice (MoJ) has not done enough to protect the future sustainability of the legal aid market, MPs have warned
NLJ this week: The insider returns
Writing in NLJ this week, NLJ columnist Dominic Regan surveys a landscape marked by leapfrog appeals, costs skirmishes and notable retirements. With an appeal in Mazur due to be heard next month, Regan notes that uncertainties remain over who will intervene, and hopes for the involvement of the Lady Chief Justice and the Master of the Rolls in deciding the all-important outcome
NLJ this week: Drawing the line on contempt
After the Southport murders and the misinformation that followed, contempt of court law has come under intense scrutiny. In this week's NLJ, Lawrence McNamara and Lauren Schaefer of the Law Commission unpack proposals aimed at restoring clarity without sacrificing fair trial rights
NLJ this week: Stop and search by the numbers
The latest Home Office figures confirm that stop and search remains both controversial and diminished. Writing in NLJ this week, Neil Parpworth of De Montfort University analyses data showing historically low use of s 1 PACE powers, with drugs searches dominating what remains
NLJ this week: Looking back on the prorogation that never was
Boris Johnson’s 2019 attempt to shut down Parliament remains a constitutional cautionary tale. The move, framed as a routine exercise of the royal prerogative, was in truth an extraordinary effort to sideline Parliament at the height of the Brexit crisis. Writing in NLJ this week, Professor Graham Zellick KC dissects how prorogation was wrongly assumed to be beyond judicial scrutiny, only for the Supreme Court to intervene unanimously
Copyright © 2026 LexisNexis
back-to-top-scroll