Brexit and consumer services: Lords to question FCA's Executive Director of Strategy and Competition
Mr Chris Woolard, Executive Director of Strategy and Competition for the Financial Conduct Authority (FCA), appears before the House of Lords EU Justice Sub-Committee on Tuesday 10 October 2017 as part of its inquiry into the impact of Brexit on consumer protection.
The FCA is the conduct regulator for 56,000 financial services firms and financial markets in the UK, and the prudential regulator for over 18,000 of those firms. The FCA was established in 2013 taking over from the Financial Services Authority.
The areas likely to be covered in the evidence session are:
- The role of the FCA in protecting consumers nationally and across the EU's single market, and the role of EU legislation in this task.
- The FCA's role in improving EU consumers' protection rights.
- The extent to which Brexit poses a danger to the FCA's ability to protect UK consumers here.
- Important aspects of the EU regulatory framework for financial services and consumer protection that the FCA would like to see retained post-Brexit.
- Whether the FCA is concerned at the lack of detail in the area of consumer protection in the Government's Brexit plans.
- The impact of Brexit on the remaining EU Member States adherence to consumer protection standards.
The evidence session will take place at 10:45am on Tuesday 10 October 2017 in Committee Room 3 of the House of Lords.
