"It is not clear what the proposal to merge the UKLA with the FRC is seeking to achieve. UKLA is a real-time markets regulator whereas FRC is a standard-setting regulator."But in that case I refer the honorable gentleman to the HMT consultation document (which I can't believe he hasn't read!) which states:
"The Government believes that, within the proposed new regulatory architecture, there is a strong case for a powerful companies regulator established with responsibilities for regulating corporate governance, corporate information and its disclosure, and the stewardship of companies by institutional shareholders."It's explicit that this is intended to be a step towards creating a companies regulator. And my suspicious side leads me to think that is what is being (indirectly) opposed.