The Queen’s Speech – AFB Response to the New Financial Services and Markets Bill

The AFB welcomes the announcement in the Queen’s Speech of a new Financial Services and Markets Bill. We support the objective of the Bill – to maintain and enhance the UK’s position as a global leader in financial services – and the proposed measures, including updating the objectives of the regulators to focus on growth and international competitiveness and reforms to the rules that regulate the UK’s capital markets.

We are also pleased that the Government will bring forward an Economic Crime and Corporate Transparency Bill to strengthen further powers to reduce economic crime. Permitting financial sector businesses to share information more effectively will, alongside further powers for Companies House, enable our members to support the prevention of economic crime.