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Financial Services and Markets Bill [HL]
Financial Services and Markets Bill [HL] is currently listed at Report stage in the House of Lords.
Current position
- Latest completed stage
- Committee stage8 Jul 2026
- Next stage
- Report stage
- House
- House of Lords
- Bill type
- Government Bill
- Last updated
- 23 Jul 2026
- Proposer / sponsor
- Lord Stockwood Proposer / sponsor · Labour · House of Lords Prepared for future MP profile links
What this bill is about
The Financial Services and Markets Bill [HL] would make changes to how parts of the UK’s financial services and markets are regulated. It is aimed at reforming areas of financial regulation, including the Financial Ombudsman Service, the Payment Systems Regulator, and authorisation arrangements referred to as “provisional licences”. The bill would also make reforms to the bank ring-fencing regime and related regulatory rules, and would reform aspects of the consumer credit regulatory framework and banking access arrangements.
What it would do
- Reform the Financial Ombudsman Service, including aligning aspects of its decisions with Financial Conduct Authority (FCA) rules.
- Abolish the Payment Systems Regulator and transfer its functions to the FCA.
- Introduce a “provisional licences” authorisation scheme for financial activities.
- Make reforms to the UK bank ring-fencing regime and other financial regulatory rules, including consumer credit regulation and banking access-related matters.
Bill journey
Matched Commons vote groups are shown inside the relevant stage where the stored dates allow a match.
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1st reading 19 May 2026 · House of Lords
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2nd reading 8 Jun 2026 · House of Lords
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Committee stage 8 Jul 2026 · House of Lords
Related daily summaries
Published daily summaries where this bill appears in the day’s parliamentary or government business.