UK Finance, Paragon, and Santander to give evidence to Lords Financial Services Regulation Committee

At 10.15am, the committee will hear from:

• David Postings, Chief Executive Officer of UK Finance.

At 11am, the committee will hear from:

• Nigel Terrington, Chief Executive Officer of Paragon Banking Group.

At 11.45am, the committee will hear from:

• Mike Regnier, Chief Executive Officer of Santander UK.

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.

Topics the committee is likely to cover in these sessions include:

• How regulatory activity affects the UK’s competitiveness and growth.
• Regulators’ understanding and measurement of their Secondary Competitiveness and Growth Objectives.
• Finding the right balance for risk to support competitiveness and growth.
• How financial services can facilitate growth in the wider economy.
• Providing leadership to the regulators and holding them to account.

is the sixth 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Committee was created in early 2024 following the passing of the Financial Services and Markets Act 2023 which repealed retained EU law for financial services and established a new framework for the regulation of financial services in the United Kingdom.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.