# Healey rallies behind financial services bill despite opposition

- URL: https://talkfuse.com/story/healey-rallies-behind-financial-services-bill-despite-opposition/
- Published: 2026-11-11T12:12:52+00:00
- Updated: 2026-11-11T12:22:25+00:00
- Original publisher: City AM (publisher lean: Right)
- Original article: https://www.cityam.com/healey-rallies-behind-financial-services-bill-despite-opposition/
- Topics: Business, Government, Politics

## Key points

- Healey backs changes to financial services rules.
- Ombudsman complaints would be limited to 10 years.
- Consumer groups warn access to redress could narrow.

## Summary

John Healey has backed a government bill to reshape financial services regulation, saying it would set clear standards for consumers. The legislation is part of the government’s post-Brexit programme to give the UK more control over financial rules and is intended to help the City use that regulatory freedom.

The bill would limit Financial Ombudsman Service complaints to 10 years and require the ombudsman to presume a firm acted fairly if it followed the regulator’s rules. Ambiguous cases would go to the Financial Conduct Authority. Consumer groups including Which? and Fairer Finance warn the changes could restrict access to free, independent redress; Treasury committee chair Meg Hillier said they may shift the balance towards firms. The bill would also let regulators update consumer loan rules and allow overseas firms to operate when their home regulations achieve similar outcomes.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.