Parliament publishes FS Bill Lords amendments

Parliament has published a full list of amendments made at the Lords Report stage of the Financial Services Bill. These include:

• requiring FCA to have regard to the principle that firms should not benefit from exploiting customer vulnerability, behavioural biases of constrained choices when considering what protection is appropriate;
• requiring FCA to make rules on a duty of care to be owed by authorised firms to consumers, by 6 April 2022;
• giving Treasury the power to bring BNPL products within the scope of FCA regulation;
• excluding the provision of cash, in certain circumstances, from the scope of payment services; and
• requiring FCA to make rules imposing a cap on SVRs charged to mortgage prisoners.

As previously reported in FIN, the Bill completed its report stage and third reading in the Lords on 19 April.