A transcript of the Queen’s Speech which outlines the Government’s priorities for the coming Parliamentary year has been published on the Number 10 website.
In the Queen’s Speech it was announced that “Legislation will reform the framework for financial services regulation to learn from the financial crisis.”
On the Number 10 website there is a page on the Financial Services Regulation Bill. The purpose of the Bill is to give the Bank of England control over macro-prudential regulation and oversight of micro-prudential regulation. The main benefits of the Bill would be to ensure that aggregate risk and imbalances in the economy are properly monitored and managed, thereby helping maintain financial stability.
View Queen's Speech - Financial Services Regulation Bill, 25 May 2010
View Queen's Speech 2010 - transcript, 25 May 2010