Consolidated version of the Financial Services and Markets Act (FSMA) highlighting amendments by the draft Financial Services Bill
July 5, 2011
On July 5, 2011, HM Treasury published a consolidated version of FSMA Act 2000 and the draft Financial Services Bill which illustrates how proposals for the reform of the UK financial services sector will be incorporated into existing legislation.
The draft Bill sets out the provisions that will implement the government's structural financial services reforms. These include the measures necessary to establish the new regulatory bodies: the Financial Policy Committee, the Prudential Regulation Authority and the Financial Conduct Authority.
The government has announced that it aims to introduce the Bill formally into Parliament before the end of 2011.
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