Financial Services Regulation Committee resumes its work
Tuesday 30 July 2024
Yesterday afternoon the Financial Services Regulation Committee was reappointed by the House of Lords. This follows the State Opening of Parliament on Wednesday 17 July after Parliament was dissolved in May for July’s general election.
The committee will resume its inquiries into the secondary international competitiveness and growth objective given to the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) and the FCA’s consultation on publicising enforcement investigations.
Next week the committee will reopen its call for evidence on these inquiries and invite written submissions to both of them.
More about the new Financial Services Regulation Committee
The Financial Services Regulation Committee was created in early 2024 following the passing of the Financial Services and Markets Act 2023 which repealed retained EU law for financial services and established a new framework for the regulation of financial services in the United Kingdom.
The committee is chaired by Lord Forsyth of Drumlean. Its members are: Baroness Bowles of Berkhamsted; Baroness Donaghy; Lord Eatwell; Lord Grabiner; Lord Hill of Oareford; Lord Hollick; Lord Kestenbaum; Lord Lilley; Baroness Noakes; Lord Sharkey; Lord Smith of Kelvin; and Lord Vaux of Harrowden.
Michael Raffan and William Wright have been appointed as the committee’s specialist advisers. Mr Raffan is a partner in Freshfields Bruckhaus Deringer LLP’s financial services practice, while Mr Wright is the founder and managing director of the think tank, New Financial.
The committee’s work can be followed on its website.
