The House of Lords Financial Services Regulation Select Committee has been reappointed, following the State Opening of the UK parliament on 17 July.

The Committee was formed earlier this year, following the passing of the Financial Services and Markets Act 2023. The Act repealed retained EU law for financial services and established a new framework for the regulation of financial services in the UK.

The Committee is resuming two inquiries. 

It is currently taking evidence on the FCA’s consultation paper CP24/2 on publicising enforcement investigations. The Committee has issued a call for written evidence and will invite the Financial Conduct Authority to provide oral evidence to the Committee later this year. This call for evidence is open for evidence until 11 October.

The second inquiry looks into the secondary international competitiveness and growth objective given to the FCA and Prudential Regulation Authority (PRA) under the Financial Services and Markets Act 2023. This call for evidence is open for evidence until 29 November.

We have previously written on the FCA consultation paper and cover the objective given to the FCA and PRA in our Corporate Review, which can be downloaded here.