The BSA supports the review of the financial services regulatory framework and of the proposal to adopt the principles in the Financial Services and Markets Act (FSMA) to delegate rule-making to the regulators. The adoption of the FSMA principles will, in turn, allow the Prudential Regulatory Authority (PRA) to proceed with its 'Strong and Simple' Framework. This will simplify the prudential framework for non-systemic domestic banks and building societies, while maintaining their resilience.

Read the full Evidence here