Finance News

Treasury Committee launches inquiry into future of financial services

Rozi Jones
|
20th November 2020
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"We’ll examine how the sector can best take advantage of the new trading environment, what regulatory changes should be made, and what role Parliament should play in influencing and scrutinising such changes."

The Treasury Committee is launching a new inquiry into the future of financial services after the Brexit transition period ends.

It will examine how financial services regulations should be set and scrutinised by Parliament, as EU directives will cease to govern new rules and regulations.

It will also consider how regulators are funded and the extent to which financial services regulation should be consumer-focussed.

Mel Stride MP, chair of the Treasury Committee, said: “The financial services sector is a crucial component of the UK economy. There are choices to be made by the UK Government that will have long-lasting impacts on the future of the sector.

“As part of our new inquiry, we’ll examine how the sector can best take advantage of the new trading environment, what regulatory changes should be made, and what role Parliament should play in influencing and scrutinising such changes.

“We’ll make a series of recommendations for how the Government, public bodies and the sector itself can ensure that the UK remains a premier financial centre.”

 

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