UK Parliamentary Committees

UK: Senior Managers, certification and conduct rules: a new regulatory framework for individuals in banking

The final report of the Parliamentary Committee on Banking Standards criticised not just the “firewall of accountability” around senior individuals within banks but also the regime designed to regulate them.   The joint Consultation Paper “Strengthening accountability in banking: a new … Continue reading

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Filed under Bank of England, Banking, FCA, Investment banking, PRA, Retail Banks, UK, UK Parliamentary Committees, UK Regulations

UK: Banking Standards Review

Sir Richard Lambert has today published a report with his recommendations on plans for a professional body, to be known as the Banking Standards Review Council (BSRC), to contribute to a continuous improvement in the behaviour and competence of all banks … Continue reading

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Filed under Bank of England, Banking, HM Treasury, Investment banking, Retail Banks, UK, UK Parliamentary Committees

UK: reviewing the fairness, transparency, speed and efficiency of enforcement decision-making processes at the FCA and the PRA

The Chancellor has launched a review of the fairness, transparency, speed and efficiency of the enforcement decision-making at the financial services regulators, as part of the government’s focus on strengthening accountability in the financial services industry.  A call for evidence to … Continue reading

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Filed under Banking, Consultations, FCA, HM Treasury, Insurance, Investment banking, Investment Funds, PRA, Regulatory Reform, UK, UK Government, UK Parliamentary Committees

Report of the Parliamentary Commission on Banking Standards: “Changing banking for good”

On 19 June, the Parliamentary Commission on Banking Standards (Commission) published its Final Report entitled “Changing banking for good”.  The report identifies various reforms the Commission considers necessary to improve standards across the banking industry.  The recommendations cover several areas … Continue reading

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Filed under Banking, UK, UK Parliamentary Committees

UK: Treasury Committee’s report on the appointment of the Governor of Bank of England

The Treasury Committee (the Committee)  has published reports on the appointment of the Governor of the Bank of England, and on the budget.

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Filed under Bank of England, UK Legislation, UK Parliamentary Committees

A litigator’s yearbook: 2012 in England and Wales

At this time of year it is traditional to look back over the past 12 months and try to sum up what the year has had to offer. We thought it might be helpful to do the same from a … Continue reading

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Filed under Commercial Litigation, UK, UK Legislation, UK Parliamentary Committees, UK Regulations

Financial Services Bill update: Committee Stage report

The Public Bill Committee has published its Committee Stage report on the Financial Services Bill, which indicates that the only revisions made at this stage have been technical amendments. The main theme of debate was the inter-connectibility of the new … Continue reading

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Filed under FCA, JURISDICTIONS, PRA, Regulatory Reform, UK, UK Legislation, UK Parliamentary Committees

Treasury Select Committee publishes report on Financial Conduct Authority

Today, the Treasury Select Committee (the Committee) published a report following its inquiry into the Financial Conduct Authority.

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Filed under FSA, JURISDICTIONS, Regulatory Reform, UK, UK Parliamentary Committees

Joint Parliamentary Committee reports on pre-legislative scrutiny of draft Financial Services Bill 2011

Today, the Joint Committee appointed by both Houses of Parliament to conduct pre-legislative scrutiny of the draft Financial Services Bill 2011, reported on its examination of the Bill. The report is critical of many aspects of the Bill as not … Continue reading

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Filed under FSA, JURISDICTIONS, Regulatory Reform, UK, UK Parliamentary Committees

Joint Parliamentary Committee calls for evidence on draft Financial Services Bill

The Joint Committee appointed by both Houses of Parliament to conduct pre-legislative scrutiny of the draft Financial Services Bill has issued a call for written evidence to be submitted by Friday 2 September 2011.  This is an important opportunity for … Continue reading

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Filed under JURISDICTIONS, UK, UK Parliamentary Committees