Treasury sub-committee launched to scrutinise financial regulators post-Brexit

Additional Financial Services Scrutiny Unit

The UK Treasury Committee has launched a sub-committee to scrutinise financial services regulatory proposals, as rule-making powers transfer to UK regulators post-Brexit.

The Sub-Committee on Financial Services Regulations will scrutinise proposals and have the power to summon witnesses, order the production of documents and agree reports, the Treasury Committee said. In its second report this session, Future parliamentary scrutiny of financial services regulations, it said that "at the very least" proposals that contain legal ramifications from the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England, should be assessed against their likely impact on providers and consumers. An examination of justification for polic...