Source · Select Committees · Treasury Committee
First Report - Future of financial services regulation
Treasury Committee
HC 141
Published 16 June 2022
Government response
Second Special Report - Future of financial services regulation: responses to the Committee’s First Report · published 7 Sep 2022
Recommendations & Conclusions
18
Conclusion
Accepted in Part
We expect the regulators to prioritise changes where the cost for consumers is lowest in...
Conclusion
We expect the regulators to prioritise changes where the cost for consumers is lowest in comparison to the benefit. Regulators’ approaches to assessing the marginal impact of new policies is already well-developed. We therefore believe that the creation of a …
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Government Response Summary
The government acknowledges concerns about regulators' cost-benefit analysis and proposes establishing CBA panels but does not agree that the panels would impact the regulators' independence.
HM Treasury
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23
Recommendation
Accepted in Part
Para 154
The Prudential Regulation Authority should consider where there is more that can be done to...
Recommendation
The Prudential Regulation Authority should consider where there is more that can be done to reduce the advantages from which large banks and insurers benefit through modelling their own capital requirements. The purpose of doing so would be not only …
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Government Response Summary
The government agrees with simplifying the regulatory framework, citing the "Strong & Simple" initiative and insurance reporting simplifications, and highlights planned enhancements to cost-benefit analysis, but does not specifically address reducing advantages from modelling capital requirements.
HM Treasury
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