UK Finance and all relevant members support HM Treasury (HMT) policy objective and its “intention to make the regime more flexible, proportionate, and responsive to developments in markets and the wider regulatory framework, supporting growth”, while continuing to safeguard stability. 

In this response, we explore the challenges to using HMT’s proposed reforms identified by our members and where possible, suggest solutions to consider ahead of and within the upcoming legislation. Our intention is to facilitate HMT achieving the policy intent of its reforms.