Lords Economic Affairs Committee to take evidence on high frequency trading and going concern
The House of Lords Economic Affairs Committee will next week hold two evidence sessions on high profile and controversial financial issues as they take evidence on high frequency trading (HFT) and going concern in financial reporting.
The evidence sessions, to be held on Tuesday 22 July in Committee Room 1 of the House of Lords, will see the Committee take evidence from:
- 2:30pm – High Frequency Trading – evidence via video link from Brad Katsuyama, President and Chief Executive Officer of IEX.
- 3:30pm – Going concern – evidence will be heard from Sir Winfried Bischoff, Chairman and Stephen Haddrill, Chief Executive, Financial Reporting Council (FRC).
In the first session on high frequency trading the Committee will focus on whether high frequency trading is beneficial for investors, the opportunities that HFT creates for predatory trading, whether HFT has increased volatility in financial markets, what regulators can do to monitor HFT and whether as a consequence of HFT, it is fair to say that stock markets are now rigged.
The second session with the FRC will focus on the priorities of the organisation, the recent proposed changes to the UK Corporate Governance Code on risk management and going concern, how they would respond to criticism that FRC proposals on going concern will undermine the rationale behind the Sharman report recommendations and what the FRC is doing to improve International Financial Reporting Standards as they relate to bank audits.
The session will be webcast at www.parliamentlive.tv and is also open to the public. Journalists wishing to attend should go to Parliament's Cromwell Green Entrance and should allow time for security screening.
