Fifth Delegated Legislation Committee
13 October 2026
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Committee Actual start House of Commons
15:26 - 15:56
Speaker 2
The draft Overseas Prudential Requirements Regime (Credit Institutions and Investment Firms) Regulations 2026. Is it the wish of the committee that the instruments be debated together? Take that as a yes. I will now call the Minister to move the first motion and speak to all three of the instruments. At the end of the debate, I will put the question on the first motion and then ask the Minister to move the remaining motions formally.
Minister.
15:56 - 16:47
Speaker 1
Thank you very much, Chair.
I beg to move that the Committee considers the three statutory instruments before us today. Although the instruments contain and concern distinct parts of the financial services regulatory system, they share a common purpose, which is to ensure that the UK regulatory framework remains clear, proportionate, and able to support growth whilst maintaining appropriate safeguards and financial stability. So I'll address each instrument in turn, beginning with the Overseas Prudential Requirements Regime Regulations. Following EU exit, the UK retained a body of EU-derived financial services legislation, including the UK Capital Requirements Regulation, which sets prudential requirements for banks, building societies, and large investment firms. The first instrument supports the Government's program of replacing that assimilated law with a framework tailored to the UK.
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