PARLIAMENTARY WRITTEN QUESTION
Financial Services: Advisory Services (30 January 2024)

To ask the Chancellor of the Exchequer, with reference to the oral contribution of the Economic Secretary during the debate on Financial Advice and Guidance: Consumer Market of 9 January 2024, Official Report, column 32WH, when he plans to provide the hon. Member for West Worcestershire with information on whether a specific vote on primary or secondary legislation is required to deal with the proposals in the joint Government and FCA review of the regulatory boundary between financial advice and guidance.

Asked by:
Dame Harriett Baldwin (Conservative)

The government and Financial Conduct Authority (FCA) are exploring a range of regulatory and legislative options for implementation and there are elements of the package that could require amendment to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 through secondary legislation. We will consider whether any wider changes to the existing regulatory and legislative regime would be required to deliver the proposals successfully within a coherent broader framework.

Answered by:
Bim Afolami (Conservative)
2 February 2024