The Financial Services and Markets Bill continues its progress through the UK legislative process

The UK’s Financial Services and Market’s Bill completed its reading in the Committee stage in the House of Lords on 23rd March 2023.

The bill is an update to a wide range of financial services regulation in the UK. It will repeal some EU law relating to financial services and transfers the responsibility for regulating these areas to, among others, the FCA and PRA The bill also includes provisions to enable establishment and regulation of stablecoins as well as cash asset protection.

The report stage has yet to be scheduled.

Read more on the UK Parliament website