FS Sector Strategy: Regulatory Environment - Cross-Cutting Reforms

This consultation forms part of the government’s Financial Services Growth and Competitiveness Strategy. It covers a number of changes the government is proposing in relation to the overarching regulatory framework for financial services.

These proposals are designed to ensure that the framework is effective and proportionate and in line with the government’s overall ambition on regulation. This includes:

• Shorter statutory deadlines for the regulators to determine key applications.
• A requirement for the regulators to produce long-term strategies with clear goals and priorities.
• Rationalisation of how various legislative “have regards” feed into regulator policymaking.