| Link(s): | Treasury Committee publishes correspondence on proposed regulatory ‘call in’ power – Committees – UK Parliament https://committees.parliament.uk/publications/31748/documents/178169/default/ |
Context
The Treasury Committee publishes correspondence confirming that the Government will not proceed with the proposed ‘call-in’ power in the Financial Services and Markets Bill.
Key points to note
- The proposed power would have enabled the Treasury to make, amend or revoke regulators’ rules.
- The FCA has previously warned the UK Government that Treasury intervention in regulatory rulemaking will undermine its independence.
Next actions
None – for information and awareness.