Regulationtomorrow iconRegulationtomorrowSep 8, 2026 ~1 min source read

Financial Services Bill – Report Stage

On 8 September 2026, the UK Parliament reported that members of the House of Lords continued their further examination of the Financial Services and Markets Bill in report stage on Tuesday 8th and Wednesday 9th September 2026. On day one of the report stage members put forward and discussed over 30 amendments to the bill.

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On 8 September 2026, the UK Parliament reported that members of the House of Lords continued their further examination of the Financial Services and Markets Bill in report stage on Tuesday 8th and Wednesday...

On day one of the report stage members put forward and discussed over 30 amendments to the bill.

Members voted to agree to an amendment that would remove a section of the bill that would have allowed HM Treasury to amend legislation relating to access to banking services.

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The useful part

On 8 September 2026, the UK Parliament reported that members of the House of Lords continued their further examination of the Financial Services and Markets Bill in report stage on Tuesday 8th and Wednesday 9th September 2026. On day one of the report stage members put forward and discussed over 30 amendments to the bill. Members voted to agree to an amendment that would remove a section of the bill that would have allowed HM Treasury to amend legislation relating to access to banking services.

How it works

  • Matters to be taken into account by the Financial Ombudsman when determining whether an outcome is fair and reasonable.
  • Requiring the FCA to explain why its proposed rules are proportionate and compatible with its regulatory duties.
  • A requirement of the FCA to report back to chairs of relevant Parliamentary Committees.

Details worth keeping

There were five divisions (votes) on proposed changes to the bill. Preventing the removal or reduction in consumer credit protections. Reimbursement of fraud and the liability of technology companies.

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