House of Commons Library

Financial Services Bill: Committee Stage Report

Published Thursday, April 19, 2012

The focus of this Bill is to establish a new framework for financial regulation in the United Kingdom.

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Many reasons have been put forward as to why the financial crisis, which started in 2008, happened. The Coalition Government believes that regulatory failure played some part. The Bill puts the Bank of England back at the centre of the supervisory system; establishes institutions for ‘macro-prudential regulation’ and two new regulators that concentrate on the prudential regulation of large institutions and business conduct respectively.

Commons Briefing papers RP12-18

Author: Tim Edmonds

Topics: Financial institutions, Financial services

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