Financial Services: Mansion House Speech

I declare an interest as a trustee of the parliamentary pension scheme. There is a lot to welcome in the Chancellor’s Mansion House speech, a lot of which was taken from the Mansion House and Edinburgh reforms of the previous Chancellor. I particularly welcome the increase in access to financial advice that the Minister has said she is taking forward. Can the Minister confirm the end of the senior managers regime in the City, which I believe was in the Chancellor’s speech, and if that is the case, how does she plan to take it forward and will it require primary legislation?