Member

The noble Lord, Lord Parkinson, asked about the subsequent publication timeline. We do not believe there is merit in shortening the deadline for any of the regulator’s subsequent “state of the game” reports. The regulator can already publish subsequent reports sooner than the five-year timeline if it considers it appropriate to do so. This could be a potential burden on industry, so we think that this timeframe allows for the market to change, balanced against possible costs.