The House of Lords Liaison Committee has recommended that a new financial services regulatory committee be created whose remit will be to look at financial regulation generally and particularly to scrutinise financial services regulatory consultations. The liaison committee is concerned that there needs to be enhanced scrutiny of financial regulatory measures, particularly as a result of the mechanisms now in place to replace former EU legislation. It notes that the House of Commons Treasury Committee established a sub-committee on financial services regulation last summer, and says the Lords should aim for a Committee that complements that.
