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.