UK: Commons Treasury Committee publishes financial regulation report

The House of Commons Treasury Committee has today published its preliminary consideration of the Government's proposals for reform of the UK financial regulation framework: see here (html) or here (pdf). The evidence - oral and written - accompanying the report has been published in two separate volumes: see here (pdf) and here (pdf).

The Committee notes, amongst other things, that the Government's timetable is ambitious and that the legislation creating the new structure should be subject to pre-legislative scrutiny over a reasonable timescale. The Committee welcomes the creation of the Independent Commission on Banking and suggests that the Government wait until the Commission has reported later this year before reaching conclusions on financial regulation.