DEMSA update 14/5/2022

Ernst & Young and UK Finance on the Queen's Speech and UK Financial Services regulation

Christopher Woolard is very active in the media in his new role at Ernst & Young after leaving the FCA in 2021. I have picked up on Data Reform further on. His short summary focuses on the Financial Services & Markets Bill where the Government intends to focus on ‘cutting red tape’ from regulation, with a focus on innovative technologies and ensuring resilient outsourcing to technology providers.

David Postings, Chief Executive of UK Finance, also responded to the Queen’s Speech:

“We strongly welcome the announcement in the Queen’s Speech that the government will bring forward a Financial Services Bill and a further Economic Crime Bill, which we see as two key pieces of legislation for financial services.

The Financial Service Bill provides the opportunity to tailor the UK’s regulatory framework and so create a more competitive financial services sector post-Brexit, supporti...

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