The EU has reasons to be very prescriptive when setting its financial services rules: it must ensure that all member states are acting together and implementing the same rules consistently across multiple national legal systems. The UK, now that it is outside the EU Single Market, can operate with greater freedom.

The EU has reasons to be very prescriptive when setting its financial services rules: it must ensure that all member states are acting together and implementing the same rules consistently across multiple national legal systems. The UK, now that it is outside the EU Single Market, can operate with greater freedom. Type: conclusion | Number: 1 | Paragraph: 20 | Response status: under_consideration Government response: The government notes this recommendation. Regulatory independence has been at the heart of the UK’s domestic model of financial services regulation for over two decades, as set out in Financial Services and Markets Act 2000 (FSMA), and this remains central to the government’s approach. The FSMA mode