Treasury Committee publishes correspondence on proposed regulatory ‘call in’ power

The Treasury Committee has today published correspondence confirming the Government will not proceed with the proposed ‘call-in’ power in the Financial Services and Markets Bill.

The proposed power would have enabled the Treasury to make, amend or revoke regulators’ rules.

The Committee took a large volume of evidence on the proposed power in recent weeks, including from:

• Andrew Griffith MP, then-Financial Secretary to the Treasury (Tuesday 11 October)
• Sir Jon Cunliffe, Deputy Governor for Financial Stability at the Bank of England (Wednesday 19 October)
• Sir Dave Ramsden, Deputy Governor for Markets and Banking at the Bank of England (Monday 24 October)
• The leadership of the Financial Conduct Authority (Monday 7 November)
• Andrew Bailey, Governor of the Bank of England (Wednesday 16 November)

Correspondence on the proposed call-in power between Andrew Griffith, Economic Secretary to the Treasury, and then-Interim Treasury Committee Chair Dame Angela Eagle can be found here (Monday 31 October) and here (Tuesday 1 November).