At 10.10am on Wednesday 8 May 2024, the House of Lords Financial
Services Regulation Committee, will hear evidence from Miles
Celic, CEO of TheCityUK, the industry-led body representing
UK-based financial and related professional services.
This is the first evidence session of the committee's new 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.
This session, which is 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 this session include:
- Factors limiting the growth and competitiveness of the UK as
an international and domestic financial centre.
- Whether regulators are more focused on preventing risk than
providing the right environment for firms to grow and develop.
- The extent to which a lack of resources and operational
efficiency is preventing more effective and efficient regulation
in the UK.
- How regulation can support greater talent and financial
investment to enter the UK.
- The impact the lack of consistency among financial services
regulation in the UK has on firms' confidence and ability to
grow.
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Act 2023 which repealed retained EU law for financial services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 of Drumlean. Its members are:
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The committee's work can be followed on its website.
