Treasury Committee Press Notice No. 11

Session 2005-06 29 November 2005

New Treasury Committee inquiry: European financial services regulation

The Treasury Committee is undertaking a short inquiry into European financial services regulation.  The Committee will examine developments in relation to the Financial Services Action Plan and the European Commission's Green Paper and forthcoming White Paper on Financial Services Policy (2005-2010), including:

• The operation and development of the Lamfalussy arrangements;

• The impact of Better Regulation principles; and

• The role of the European Parliament in the legislative process.

The Committee will not examine in detail each measure within the Financial Services Action Plan or envisaged in the Green Paper on Financial Services Policy (2005-2010), but expects to undertake case studies on-

• The implementation of the Markets in Financial Instruments Directive (MiFID);

• The Commission's consideration of a possible Clearing and Settlement Directive; and

• The Commission's consideration of mortgage credit in the context of the development of a single market in retail financial services.

The Committee would welcome written submissions on this inquiry which should reach the Committee by 3.00 pm on Thursday 8 December.

The Committee will hold an evidence session as part of this inquiry on Wednesday 14 December at  2.30 pm.  Witness names will be announced shortly but the running order will be:

2.30pm: Trade associations

3.30 pm: Financial Services Authority

4.30 pm: Consumer groups


Written evidence should be in Word or rich text 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 3.00pm on Thursday 8 December.

Submissions should be in the format of a self-contained memorandum and should not be of undue length. Paragraphs should be numbered for ease of reference, and the document must include an executive summary, ideally no more than one page long.

Committees make public much of the evidence they receive during inquiries. If you do not wish your submission to be published, you must clearly say so. If you wish to include private or confidential information in your submission to the Committee, please contact the Clerk of the Committee to discuss this. Please bear in mind that Committees are not able to investigate individual cases.

Personal information, such as address and contact details, should be provided separately from the body of your submission. 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.

Submissions should be original work, not previously published or circulated elsewhere. Once submitted, no public use should be made of the submission unless you have first obtained permission from the Clerk of the Committee.

The Treasury Committee is a Select Committee of the House of Commons, appointed to examine the expenditure, administration and policy of the Treasury, HM Revenue and Customs and associated public bodies. All Members of the Committee are Members of the Sub-Committee.

Rt Hon John McFall (Chairman), L, West Dunbartonshire
Lorely Burt, Lib Dem, Solihull
Jim Cousins, L, Newcastle upon Tyne Central
Angela Eagle, L, Wallasey
Mr Michael Fallon, C, Sevenoaks (Sub-Committee Chairman)
Damian Green, C, Ashford
Ms Sally Keeble, L, Northampton North
Susan Kramer, Lib Dem, Richmond Park
Mr Andrew Love, L, Edmonton
Kerry McCarthy, L, Bristol East
Mr George Mudie, L, Leeds East
Mr David Ruffley, C, Bury St Edmunds
Mr Mark Todd, L, South Derbyshire
Peter Viggers, C, Gosport