HSBC to give evidence to Lords inquiry into EU regulation

In its latest investigation, the House of Lords EU Sub Committee on Economic and Financial Affairs is reviewing the effectiveness of the current regulatory system.

The committee will also hear evidence from the Financial Services Consumer Panel as well as the Association of Corporate Treasurers in order to gauge the effect of the reforms on consumers and corporate investors.

Evidence will first be heard at 9.50am from Mr Douglas Flint, Group Chairman of HSBC Holdings Plc, and then in a second session, starting at approximately 11.00am, from Sue Lewis, Chair of the Financial Services Consumer Panel, and Colin Tyler, Chief Executive of the Association of Corporate Treasurers.

Questions that the Committee will put to the witnesses include:

• What is your overall assessment of the regulatory reforms that were brought in since the outbreak of the financial crisis?
• Which are the biggest strengths and weaknesses in the regulatory framework?
• Have consumer protection issues been overlooked as a consequence of the reforms?
• Where do UK consumers stand in the wake of reforms – in a stronger or weaker environment?
• How effective has the EU's attempt to harmonise rules in the form of the Single Rulebook been?
• The ‘too big to fail problem' – how can the issue of implicit subsidies enjoyed by large banks be addressed?
• How well does regulation create incentives to better manage risk?
• What are the implications for the UK, a non-eurozone Member State, in terms of EU regulatory reform?

The Committee evidence sessions will take place at 9.50am in Committee Room 3A in the House of Lords, on Tuesday 21 October.

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.