Response to the Queen’s Speech: Financial Services Bill

Commenting on the Queen’s Speech, Dr Kay Swinburne, Vice Chair of Financial Services at KPMG UK, said: “A new regulatory framework for financial services will help guide financial services institutions into a new era outside of the EU. Financial institutions are hungry for stability and clarity on the future regulatory environment. The significance of the sector to the UK economy makes this a clear priority for the Government.

“For reform to be a success, any Act would need to ensure that we maintain a strong, resilient, and competitive sector that can continue to drive job creation, investment, growth and service exports for the benefit of the whole country. One of the most pressing concerns for leaders across the sector is how parliamentary oversight of financial regulation will evolve and ensure appropriate accountability, but also greater engagement with stakeholders to help shape the future of financial services in the UK.”

 

ENDS.

 

Media contact:

For further information please contact:

KPMG Media Relations

Gerard Swinley

Gerard.swinley@kpmg.co.uk

M: +44 7510 375540

 

About KPMG:

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 15,300 partners and staff.  The UK firm recorded a revenue of £2.43 billion in the year ended 30 September 2021.

KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 145 countries and territories with more than 236,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.