The government is considering the recommendations made by the Committee, alongside the responses to the Financial Services Future Regulatory Framework Review Consultation, which closed on 19 February 2021. The government will bring forward detailed proposals in a second consultation in the autumn. I therefore do not intend to respond in detail to each recommendation in this letter, as doing so would pre-judge that consultation. However, having noted your recommendations with interest, I would like to take this opportunity to reiterate some of the points I raised during my evidence session with the Committee.