HMT’s wide-ranging policy document includes announcements regarding financial services  The Economic Secretary has been asked to examine whether FOS, as it stands today, is delivering its role and will focus, in particular, on a range of points that have been raised as part of the Government’s consultation on the growth and com­pet­it­ive­ness strategy.  This will include addressing concerns around the following: whether the framework in which FOS operates which has resulted in it acting, at times, as a quasi-reg­u­lat­or. whether FOS is applying today’s standards to actions that have taken place in the past, and will consider the practices that have grown up over time on compensation.  This work is expected to conclude by the summer and the Government stands ready to legislate. HMT will work with the regulators, the Office for Investment and the City of London Corporation, and the Government will establish a concierge service that enhances the at­tract­ive­ness of the UK as a destination for global financial services, by making it easier for firms to navigate the UK regulatory landscape and broader barriers to entry. HMT intends to introduce a package of measures to enable FCA to support early-stage innovative firms to start conducting regulated activities, including more dedicated support, issuing “minded to approve” notices to support fundraising, and considering whether the legislative framework can be updated to allow relevant firms to conduct limited regulated activities with streamlined con­di­tions.