Moved by
Lord McFall of Alcluith
70: After Clause 23, insert the following new Clause—
“Independent review
After section 66B of FSMA 2000 (inserted by section 23 above) insert—
“66C Independent review
(1) The Treasury shall commission an independent report in relation to the effectiveness of—
(a) any rules implemented under section 64A; and
(b) any action taken by the FCA or PRA by virtue of section 66.
(2) The Treasury shall ensure that the report prepared under subsection (1) shall—
(a) include such recommendations as considered appropriate for legislative and other action;
(b) be laid before Parliament by the end of 2018; and
(c) be published in such manner as it sees fit.””