On 8 September 2026, the UK Parliament reported that members of the House of Lords continued their further examination of the Financial Services and Markets Bill in report stage on Tuesday 8th and Wednesday 9th September 2026.
On day one of the report stage members put forward and discussed over 30 amendments to the bill. There were five divisions (votes) on proposed changes to the bill. Members voted to agree to an amendment that would remove a section of the bill that would have allowed HM Treasury to amend legislation relating to access to banking services. Members also voted on, but disagreed to, four amendments on:
- Preventing the removal or reduction in consumer credit protections.
- Access to affordable credit.
- Matters to be taken into account by the Financial Ombudsman when determining whether an outcome is fair and reasonable.
- Reimbursement of fraud and the liability of technology companies.
Members speaking on day two of report stage have put forward amendments to be considered on subjects including:
- Requiring the FCA to explain why its proposed rules are proportionate and compatible with its regulatory duties.
- Amending the regulatory principles laid out in other sections of the bill.
- A requirement of the FCA to report back to chairs of relevant Parliamentary Committees.