FSM Bill day 6 debate

The Committee stage in the House of Lords has held its 6th and final day of debate on the Financial Services and Markets Bill. It considered:

• the future of the ring-fencing regime, which gave rise to a lively debate, based on an amendment that would repeal the regime entirely;
• taxation of insurance linked securities;
• controls over regulation and regulatory reporting on tokenisation;
• financial education;
• right of action for SMEs;
• FOS reform; and
• debanking.

The Bill now moves to Report stage in the Lords.