16
The creation of a new independent body to assess whether regulators were fulfilling their statutory...
Conclusion
The creation of a new independent body to assess whether regulators were fulfilling their statutory objectives would not remove the responsibility of this Committee to hold the regulators to account, and it would also add a further body to the financial services regulatory regime which we would need to scrutinise.
Paragraph Reference
87
Government Response
Acknowledged
Government Response
Acknowledged
HM Government
Acknowledged
Finally, while I note the Committee’s conclusion that they do not see a clear need for the creation of a new committee or a new independent body, I would also like to reiterate that it is rightly a matter for Parliament to consider the appropriate structure for its scrutiny.
Source
Committee
Treasury Committee
Inquiry
Future of Financial Services
Report
Fifth Report - The Future Framework for Regulation of Financial Services
06 Jul 2021
HC 147
Addressee Bodies
HM Treasury
Timeline
Recommendation age
4.9 yrs
Report published
06 Jul 2021