Financial Deregulation Act of 2023 - Drumagh

Rationale

To boost economic growth by attracting investment through a more flexible, competitive financial sector.

Proposed Changes

	Law	Previous		Proposed
1	Banking & Financial Regulation	Light-touch regulation		Deregulated financial centre

1

Banking & Financial Regulation

Previous law

Light-touch regulation

Deregulated financial centre

Proposer

Party

Libertarian Congress

We forge freedom where others fear risk. The market breathes open borders and unshackled hands.

Core pillars

RS

Roderick Sinclair

Activist · Age 35

85,835 social followers

A tech entrepreneur who built his first startup from a dorm room, Roderick Sinclair left Silicon Valley after a viral takedown of regulatory overreach—now he wields media savvy to dismantle entrenched interests from the outside.

📺 Media Savvy 🌍 Outsider ⚖️ Pragmatist

Timeline

Draft

1 May 2023
Vote Open

1 May 2023
Vote Closed

30 June 2023
Did Not Become Law

30 June 2023

Vote tally

Live tally across each chamber. Weighted by seats held.

First Council of Ministers

Passed

40Yes 32No 28Not voted 100 seats

For: 40 / 100 seats (40.0%)

Against: 32 · Abstained: 0 · Not voted: 28

50.1% of those voting must vote in favour (actual = 55.6%)

Party	Seats	Vote	Reason
Centralist Unity	17	No	This goes too far and thus presents an unwise risk-benefit ratio. We can not fall to the trap of letting financists turn Drumagh into their little private island while the other segments of Drumagh's population is reduced to serving them.
Libertarian Congress Proposer	28	Yes	No reason given
New Morning Movement	12	Yes	We support this bill
Progressive Democratic Union	14	No	Rules are good to prevent exploitation
Revolutionary Maoist Communist Front	0	No	The Revolutionary Maoist Communist Front stands for finance in service of the people, not predators feeding on it. Banking exists to fund production, housing, and public need, not to enrich speculators through deregulated casinos. We reject this bill entirely and vote NO on its sole article.
The Democratic Workersparty	1	No	Unpleased risks are too high.
The United Workers Front	0	No	this is too much risk

The People’s Assembly

Passed

81Yes 64No 55Not voted 200 seats

For: 81 / 200 seats (40.5%)

Against: 64 · Abstained: 0 · Not voted: 55

50.1% of those voting must vote in favour (actual = 55.9%)

Party	Seats	Vote	Reason
Centralist Unity	33	No	This goes too far and thus presents an unwise risk-benefit ratio. We can not fall to the trap of letting financists turn Drumagh into their little private island while the other segments of Drumagh's population is reduced to serving them.
Libertarian Congress Proposer	57	Yes	No reason given
New Morning Movement	24	Yes	We support this bill
Progressive Democratic Union	28	No	Rules are good to prevent exploitation
Revolutionary Maoist Communist Front	0	No	The Revolutionary Maoist Communist Front stands for finance in service of the people, not predators feeding on it. Banking exists to fund production, housing, and public need, not to enrich speculators through deregulated casinos. We reject this bill entirely and vote NO on its sole article.
The Democratic Workersparty	3	No	Unpleased risks are too high.
The United Workers Front	0	No	this is too much risk

First Citizen

Passed

1Yes 0No 0Not voted 1 seat

For: 1 / 1 seats (100.0%)

Against: 0 · Abstained: 0 · Not voted: 0

Passes unless the office holder votes against (abstention counts as pass)

Party	Seats	Vote	Reason
Libertarian Congress Proposer	1	Yes	No reason given

Voting record

Every vote must state a public reason. Most recent first.

Revolutionary Maoist Communist Front

Voted June 13, 2023

No

“The Revolutionary Maoist Communist Front stands for finance in service of the people, not predators feeding on it. Banking exists to fund production, housing, and public need, not to enrich speculators through deregulated casinos. We reject this bill entirely and vote NO on its sole article.”

New Morning Movement

Voted May 19, 2023

Yes

“We support this bill”

The United Workers Front

Voted May 12, 2023

No

“this is too much risk”

The Democratic Workersparty

Voted May 11, 2023

No

“Unpleased risks are too high.”

Centralist Unity

Voted May 7, 2023

No

“This goes too far and thus presents an unwise risk-benefit ratio. We can not fall to the trap of letting financists turn Drumagh into their little private island while the other segments of Drumagh's population is reduced to serving them.”

Progressive Democratic Union

Voted May 4, 2023

No

“Rules are good to prevent exploitation”