Published on 27 January 2012, the Financial Services Bill represents a significant step in the Government's overhaul of the regulatory framework of the financial services sector. The Bill's publication follows extensive pre-legislative scrutiny of an earlier draft bill published in June 2011, as well as several previous consultations. The Government currently expects to obtain royal assent for the Bill by the end of 2012, and the Bill's provisions may begin to take legal effect early in 2013.
This briefing examines some of the noteworthy departures from the UK's current regulatory framework and analyses the potential impact of these changes.
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