Financial Services and Markets Act 2023

Key Points

• The bill has become law after receiving Royal Assent.
• MPs accepted Lords Amendment 38 and rejected Amendments 10 and 7.
• Voting showed broad cross-party support for the government’s stance on these amendments.
• The bill originated in the House of Commons and was amended by the Lords before final passage.
• It introduces and updates rules for financial services and markets in the UK, affecting the sector and its regulation.

Progress

The bill has completed its parliamentary journey and is now law; no further action is required.

Voting

In three votes, government-aligned MPs backed the motions. For Lords Amendment 38: 303 Aye, 36 No. For disagreeing with Lords Amendment 10: 303 Aye, 201 No. For disagreeing with Lords Amendment 7: 301 Aye, 48 No. Overall, Conservative, DUP and Reform UK members voted Aye on all three motions, while Labour and other opposition groups mostly voted No on the disagree motions.