Member

A driving consideration should always be to ensure that the regulations are applied in a way that reflects the needs of businesses and does not unfairly or needlessly disadvantage them. My honourable friend in the other place, Mark Garnier MP, raised the example of a local gym offering a 12-month membership product, which could be dragged into the FCA approval process. It was helpful to hear the Minister there and the noble Lord, Lord Livermore, suggest that this was not the intention. Can the Minister confirm that, and can he agree to keep such nonsenses under active review so that we do not get undesirable regulatory creep?