This is the result of a consultation that started in July and in which the LMG’s Metrics for Success document was cited. This has been a significant campaign issue for the London Market Group.
In response to the Government’s announcement, Caroline Wagstaff, CEO of the LMG has commented:
“It is very good news that H.M Treasury has published a range of detailed metrics for regulatory performance. The vast majority reflect what we asked for in our Metrics for Success document last year. Our position has always been that ‘what gets measured gets done’, so this shows that the Government is listening to industry and has taken the necessary action to help ensure that the recent Financial Services and Markets Act really delivers.
“is important now that these metrics are used to ensure we improve our international competitiveness with other jurisdictions, so it is imperative that the regulators take this on board and it is good to see that the Government expects to see these metrics used as quickly as possible. We look forward to working with them to support its implementation.”
The link to the full Treasury announcement can be found at https://www.gov.uk/government/collections/economic-secretary-to-the-treasury-builds-on-edinburgh-reforms.
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