Treasury Committee press notice no.33

Session 2006-07, 6 March 2007


Treasury Committee announces decisions about Private equity funds and Competition in banking and the future of ‘free’ banking

The Treasury Select Committee is today announcing that it expects to undertake new inquiries into Private Equity Funds and into Competition in banking and the future of free banking

Private Equity Funds

Having taken note in particular of

»The Financial Services Authority’s Discussion Paper entitled ‘Private equity: a discussion of risk and regulatory engagement’

»The announcement by the British Venture Capital Association of a working group chaired by Sir David Walker into disclosure in the private equity industry

the Treasury Committee today announces that it intends to undertake an inquiry into Private Equity Funds. Further information about the terms of reference and timing of this inquiry are expected to be included in a call for written evidence in due course.

Competition in banking and the future of free banking

The Treasury Committee is also announcing today that it intends to undertake an inquiry into Competition in banking and the future of ‘free’ banking, seven years after the publication of Don Cruickshank’s review of Competition in UK Banking on 20 March 2000. Further information about the terms of reference and timing of this inquiry are expected to be included in a call for written evidence in due course.