Treasury Committee press notice

20 November 2008: For Immediate Release


The Treasury Committee announces today an evidence session on the work of the Financial Services Authority.

The evidence session will take place at revised time of 1.30pm on Monday 15 December 2008 in the Grimond Room, Portcullis House with the following witnesses:

Nick Prettejohn, Chairman, Financial Services Practitioner Panel
Simon Bolam, Chairman, Smaller Businesses Practitioner Panel
Peter Vicary-Smith, Chief Executive, Which?
Adam Phillips, Acting Chairman, Financial Services Consumer Panel

Hector Sants, Chief Executive, Financial Services Authority

The basis for the session is scrutiny of the FSA’s Annual Report 2007/08. As well as considering issues regarding the performance, management, personnel and priorities of the FSA, we wish to focus specifically on the following aspects of the FSA’s work:

• The future of principles-based regulation
• The Treating Customers Fairly initiative
• The Retail Distribution Review
• Financial capability
• Regulation of retail banking conduct of business.

The Committee would welcome written evidence on the issues detailed above. Written evidence should reach the Treasury Committee by 12 noon on Monday 8 December 2008. Submissions should be no more than 2000 words. Guidance on the submission of written evidence can be found at the end of this press notice.

The Committee intends to take written and oral evidence on the FSA’s prudential supervision of the financial services sector, and response to the Banking Crisis, in the near future. Terms of reference relating to theses issues will be issued shortly.


Written evidence should be in Word or rich text format-not PDF format-and sent by e-mail to The body of the e-mail must include a contact name, telephone number and postal address. The e-mail should also make clear who the submission is from. The deadline is 12 noon on Monday 8 December 2008. Submissions should be no longer than 2000 words.

Submissions should be in the format of a self-contained memorandum. Paragraphs should be numbered for ease of reference, and the document must include an executive summary. Further guidance on the submission of evidence can be found at

Submissions should be original work, not previously published or circulated elsewhere. Once submitted, your submission becomes the property of the Committee and no public use should be made of it unless you have first obtained permission from the Clerk of the Committee. Please bear in mind that Committees are not able to investigate individual cases.

The Committee normally, though not always, chooses to publish the written evidence it receives, either by printing the evidence, publishing it on the internet or by making it publicly available through the Parliamentary Archives. If there is any information you believe to be sensitive you should highlight it and explain what harm you believe would result from its disclosure; the Committee will take this into account in deciding whether to publish or further disclose the evidence.

For data protection purposes, it would be helpful if individuals wishing to submit written evidence send their contact details in a covering letter. You should be aware that there may be circumstances in which the House of Commons will be required to communicate information to third parties on request, in order to comply with its obligations under the Freedom of Information Act 2000.