✓ Passed into LawLords
UK Parliament · Bill
Financial Services Act 2021
Summary
The Financial Services Act 2021 updates the rules for how banks, investment firms, and other financial businesses in the UK must operate. It strengthens protections for customers' money, improves oversight of financial markets, and gives regulators more tools to manage risks to the economy.
A vote to support means
- —Supporting this Act means wanting stronger rules for banks and financial companies to protect people's money and investments. It aims to make the financial system safer and more trustworthy after problems in the past.
A vote to oppose means
- —Critics worry the Act could make it harder or more expensive for small businesses and banks to operate, since new rules cost money to follow. Some argue it gives too much power to regulators and might slow down financial innovation.
Cast Your Vote
People's Vote1 votes
100% Support · 10% Oppose · 0
Parliament's Vote626 MPs
57% Ayes · 35543% Noes · 271
Democratic Gap
43% — Large gap
Bill Passage
Commons
- 1st reading21 Oct 2020
- 2nd reading9 Nov 2020
- Committee stage17 Nov 2020
- Report stage13 Jan 2021
- 3rd reading13 Jan 2021
Lords
- 1st reading14 Jan 2021
- 2nd reading28 Jan 2021
- Committee stage22 Feb 2021
- Report stage24 Mar 2021
- 3rd reading19 Apr 2021
Royal Assent29 Apr 2021
Full Bill Description(click to expand)
No description available