FCA Chair and Chief Executive to give evidence to Lords Financial Services Regulation Committee

• Ashley Alder, Chair of the Financial Conduct Authority (FCA)
• Nikhil Rathi, Chief Executive of the Financial Conduct Authority (FCA).

This session, which is open to the public, will be held in Committee Room 3 of the House of Lords and streamed live and on demand on Parliament TV.

Questions the committee is likely to ask in this session, which will focus on the FCA proposal to announce the opening of new enforcement investigations into firms and are based on the written evidence the Committee has received on this issue, include:

• What problem do these proposals seek to address?
• Why don’t the FCA’s existing powers not enable it to address this problem?
• What other solutions has the FCA considered and why weren’t these judged to be appropriate?
• These proposals would put the FCA out of alignment with other international regulators. What is the rationale for this?
• How will the FCA ensure the public perception of the seriousness of a matter being investigated is proportionate?
• What further thought has the FCA given to the need to do a Cost Benefit Analysis?

More about the new Financial Services Regulation Committee

The Financial Services Regulation Committee was created in early 2024 following the passing of the Financial Services and Markets Act 2023 which repealed retained EU law for financial services and established a new framework for the regulation of financial services in the United Kingdom.

The committee is chaired by Lord Forsyth of Drumlean. Its members are: Baroness Bowles of Berkhamsted; Baroness Donaghy; Lord Eatwell; Lord Grabiner; Lord Hill of Oareford; Lord Hollick; Lord Kestenbaum; Lord Lilley; Baroness Noakes; Lord Sharkey; Lord Smith of Kelvin; and Lord Vaux of Harrowden.

The committee’s work can be followed on its website.