Lords EU Committee questions former MEP Sharon Bowles on EU financial regulatory framework
Former MEP Sharon Bowles will attend, on Tuesday 22 July, the first evidence session of a new House of Lords inquiry looking at the regulatory framework of the EU's banks and markets.
The House of Lords EU Sub-Committee on Economic and Financial Affairs is examining the EU financial regulatory framework, in particular how it has performed in stabilising the financial sector.
Tomorrow Sharon Bowles, who was former Chair of the Economic and Monetary Affairs Committee in the European Parliament until June of this year, will be asked if the EU regulatory reforms have been, overall, beneficial or detrimental to the UK's interests, and whether there have been any policy mistakes in the regulatory agenda.
Questions that she will face include:
- How effective are the reforms to the financial regulatory framework introduced since the 2007 outbreak of the financial crisis?
- Which are the biggest strengths and weaknesses in the regulatory framework?
- How effective has the EU's attempt to harmonise rules in the form of the Single Rulebook been? Have the needs of consumers of financial services and products been met satisfactorily?
- What is the best balance between the powers of Member States and the EU when it comes to regulation and supervision?
- Are there any inconsistencies between regulation of the eurozone and of the wider European Union?
- What will the challenges be for those Member States not in the eurozone, such as the UK? Has the UK done enough to defend its strategic interests?
The Committee evidence session will take place at 10.40 in Committee Room 3 in the House of Lords, on Tuesday 22 July.
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.
