At 10.05am on Wednesday 9 July, the House of Lords Financial
Services Regulation Committee will hear evidence from:
- Dr Narine Lalafaryan, Assistant Professor of Corporate Law at
the Faculty of Law, University of Cambridge, and Fellow at the
Cambridge Endowment for Research in Finance
- Professor Ludovic Phalippou, Professor of Financial Economics
at the Saïd Business School, University of Oxford.
This is the second evidence session of the committee's new
inquiry into the growth of private markets in the UK following
regulatory capital and liquidity reforms introduced after the
2008 financial crisis.
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:
- The contours and size of private markets as part of the
non-bank financial intermediary landscape, and how this sector
finances the real economy.
- The role of bank regulatory capital and liquidity
requirements after 2008 in the growth of private markets, and the
extent to which the movement of financial activity into private
markets is a product of regulatory arbitrage.
- The interconnections that exist between the UK's banking
sector and private markets, and potential financial stability
risks (spillover risks) arising from such interconnections.
- The visibility the Bank of England has on the size of these
private markets, their interconnections with the banking sector,
and any potential spillover risks.
The committee has published a call for evidence. The
deadline for written submissions is Thursday 18 September 2025.
