Moved by
Lord Naseby
31: After Clause 25, insert the following new Clause—
“Duty on Financial Conduct Authority and Prudential Regulation Authority to consider ownership models and size of firms
(1) After section 1E(2)(e) of the Financial Services and Markets Act 2000, insert—
“(f) the importance to consumers of a diverse financial services sector that includes both firms of different ownership models (including mutual societies) and firms of different sizes.”
(2) After section 2H(2) of the Financial Services and Markets Act 2000, insert—
“(3) In discharging its general functions, the PRA must also have regard to the importance to consumers of a diverse financial services sector that includes both firms of different ownership models (including mutual societies) and firms of different sizes.””