Lord Luce – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Luce on 2016-04-19.

To ask Her Majesty’s Government in what way the criteria for the regulation of financial services vary between the UK and British Overseas Territories and Crown Dependencies.

Lord O’Neill of Gatley

The regulation of financial services are domestic responsibilities of the governments of the Crown Dependencies and the Overseas Territories. As part of the EU internal market for financial services, the UK Government and Government of Gibraltar regulate financial services in line with their own domestic and EU law. Other British Overseas Territories and the Crown Dependencies’ governments regulate financial services in line with their own domestic law, and are encouraged by the UK to meet internationally agreed standards.