Review of the EU financial regulatory framework

The EU Sub-Committee on Economic and Financial Affairs has conducted an inquiry into the EU financial regulatory framework. The deadline for submissions of written evidence was 30 September 2014.

Inquiry status: Oral evidence concluded: Report published


The pace of regulatory reform since the outbreak of the financial crisis has been intense. The European Commission has stated that the majority of reforms have now been agreed. It is therefore an opportune moment to step back and assess the strengths and weaknesses of the new regulatory framework and how agreed and proposed EU regulations interact with each other.

The inquiry will seek to identify any overlaps, contradictions or inconsistencies between individual regulatory reforms, as well as identifying any gaps in the regulatory landscape that remain. The inquiry will also focus on the tensions in the regulatory agenda between the Single Market and the Single Currency.

This inquiry is an opportunity to:

  • Take stock of the progress made in reforming the financial system;
  • Assess the functioning of the financial regulatory framework as a whole and its impact on financial sector actors and consumers alike;
  • Acknowledge any gaps, overlaps or inconsistencies in the regulatory framework; and
  • Seek to ensure that adverse consequences and unnecessary complexities do not undermine the functioning of the Single Market in financial services.
  • Focus on the implications of the regulatory agenda for the UK, and the extent to which its interests have been impinged or enhanced.


Public hearings will be held from July through to October 2014. The Committee aims to report to the House, with recommendations, in January 2015. The report will receive a response from the Government, and may be debated in the House.



  • Close


    • Reports and associated evidence - reports and evidence featuring written submissions and corrected oral evidence published at the conclusion of Committee inquiries. Evidence is periodically updated over the course of an inquiry and is not finalised until the relevant Report is published.
    • Uncorrected oral evidence - transcripts of oral evidence not yet approved by the Committee or witnesses.
    • Other oral evidence - corrected transcripts of oral evidence, usually taken for scrutiny purposes or for ad hoc/regular evidence sessions with Ministers.
    • Evidence - written submissions and corrected oral evidence published for scrutiny purposes or for ad hoc/regular evidence sessions with Ministers.
    • Responses to Reports - Government Department and European Commission responses to reports.
    • Call for Evidence - request to submit evidence to a Committee inquiry.
    • Correspondence - correspondence received and sent by the Committee excluding ministerial correspondence.
    • Correspondence with Ministers - Ministerial correspondence received and sent by the Committee.
    • Progress of Scrutiny - records the decisions taken by the EU Committee on European documents that have been deposited in Parliament for scrutiny.

Members interests

Members' interests in relation to the inquiry on the EU financial regulatory framework

The Members of the Sub-Committee have declared the following interests in relation to their work on the  inquiry on the EU financial regulatory framework:

Members are required to register any financial and non-financial interests that a reasonable member of the public might think would influence their actions in Parliament. The full text of the Register is available online: