BlackRock to give evidence to Lords Financial Services Regulation Committee
Tuesday 8 October 2024
At 10.15am on Wednesday 9 October 2024, the House of Lords Financial Services Regulation Committee will hear evidence from:
- Sandra Boss, Chair at BlackRock UK.
At 11.15am, the committee will hear from:
- Professor Kern Alexander, Chair for International Financial Law and Regulation at the University of Zurich, and Director of Studies in Law and Finance at Queens' College, University of Cambridge.
These sessions, which are open to the public, will be held in Committee Room 4 of the House of Lords and streamed live and on demand on Parliament TV.
Questions the committee is likely to ask in this session include:
- Has there been a noticeable change in the Financial Conduct Authority (FCA) or Prudential Regulation Authority’s (PRA) approach to regulation since the introduction of their new secondary objective?
- Have the FCA and PRA got their priorities right?
- It has been suggested that the UK’s approach to financial services regulation is more risk-averse than international counterparts. Can the UK’s approach be characterised as incurring a heavy compliance burden on firms?
- What do you think of Nikhil Rathi’s statement that a mature debate regarding risk appetite in our economy is important?
- Is there any evidence which suggests that the regulators’ ability to progress their secondary objective may be constrained by their primary objective and vice versa?
This is the fifth evidence session of the committee’s inquiry into the Financial Conduct Authority (FCA) and the Prudential Regulation Authority’s (PRA) secondary growth and competitiveness objective. This objective was introduced following the passage of the Financial Services and Markets Act 2023.
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Committee was created in early 2024 following the passing of the Financial Services and Markets Act 2023 which repealed retained EU law for financial services and established a new framework for the regulation of financial services in the United Kingdom.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.
The committee’s work can be followed on its website