The BVRLA has responded to HM Treasury's Future Regulatory Framework (FRF) Review: Consultation. The consultation marks the launch of the second phase of the FRF Review, which considers how the regulatory framework for financial services needs to adapt to be fit for the future, in particular, to reflect the UK’s new position outside of the EU.
The BVRLA is supportive of HM Treasury’s work looking at the financial services regulatory framework. The UK’s departure from the European Union creates an opportunity to review not just onshored EU legislation but also any UK legislation that is no longer fit for purpose. This is an opportunity to ensure that UK financial services have clear, transparent, outcomes-led regulation by regulatory bodies which are accountable to Government.