Select Committee · Financial Services Regulation Committee
FCA and PRA’s secondary competitiveness and growth objective
Status: Closed
Opened: 2 May 2024
Closed: 11 Mar 2026
1 report
This inquiry looks into the secondary international competitiveness and growth objective given to the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) under the Financial Services and Markets Act 2023. This call for evidence was reopened on 5 August 2024 following the Committee’s reappointment on 29 July 2024. The report Growing pains: clarity … Show more
Reports
| Title | HC No. | Published | Items | Response |
|---|---|---|---|---|
| 2nd Report - Growing pains: clarity and culture change requ… | — | 13 Jun 2025 | 0 | Responded |
Oral evidence sessions
| Date | Witnesses | |
|---|---|---|
| 12 Feb 2025 | David Geale · Payment Systems Regulator | View ↗ |
| 5 Feb 2025 | Catherine McCloskey · HM Treasury, Emma Reynolds MP · Department for Environment Food and Rural Affairs | View ↗ |
| 22 Jan 2025 | Ashley Alder · Financial Conduct Authority, Nikhil Rathi · Financial Conduct Authority | View ↗ |
| 15 Jan 2025 | Andy Briggs MBE · Phoenix Group, Chris Pond · Financial Inclusion Commission, Peter Tutton · StepChange Debt Charity, Rocio Concha · Which? | View ↗ |
| 8 Jan 2025 | David Bailey · Prudential Regulation Authority, Sam Woods · Prudential Regulation Authority | View ↗ |
| 18 Dec 2024 | Anna Dunn · JP Morgan UK, Hani Kablawi · BNY, Hannah Gurga · Association of British Insurers, Helen Charlton · FCA Financial Services Consumer Panel, Jonathan Hewitt · FCA Financial Services Consumer Panel, Julie Hunter · FCA Financial Services Consumer Panel | View ↗ |
| 11 Dec 2024 | Debbie Crosbie · Nationwide Building Society, Julie-Ann Haines · Principality Building Society, Robin Fieth · Building Societies Association, Steve Hughes · Coventry Building Society | View ↗ |
| 27 Nov 2024 | Andrew Griffith MP · HM Treasury, Bim Afolami · HM Treasury | View ↗ |
| 20 Nov 2024 | Anthony Coombs · S&U Plc, Cuan Coulter · State Street, Jack Inglis · Alternative Investment Management Association (AIMA), Lionel Assant · Blackstone, Michael Moore · British Private Equity and Venture Capital Association (BVCA), Stephen Haddrill · Finance & Leasing Association (FLA) | View ↗ |
| 6 Nov 2024 | Chris Cummings · The Investment Association, Simon Taylor · Sardine, Sir Douglas Flint CBE · Abrdn, Soups Ranjan · Sardine | View ↗ |
| 30 Oct 2024 | Charles McManus · ClearBank, Richard Davies · Allica Bank, Sir Howard Davies · NatWest Group | View ↗ |
| 23 Oct 2024 | Charles Randell CBE · Slaughter and May, Janine Hirt · Innovate Finance, Robert Kerrigan · TrueLayer, Shachar Bialick · Curve | View ↗ |
| 16 Oct 2024 | David Postings · UK Finance, Mike Regnier · Santander UK, Nigel Terrington · Paragon Banking Group | View ↗ |
| 9 Oct 2024 | Professor Kern Alexander · University of Zurich, Sandra Boss · BlackRock UK | View ↗ |
| 11 Sep 2024 | Carol Knight · The Investing and Saving Alliance (TISA), Lisa Laybourn · The Investing and Saving Alliance (TISA) | View ↗ |
Who gave evidence
| Witness | Organisation | Sessions |
|---|---|---|
| Andrew Griffith MP · Economic Secretary to the Treasury | HM Treasury | 1 |
| Andy Briggs MBE · Chief Executive Officer | Phoenix Group | 1 |
| Anna Dunn · Chief Executive Officer | JP Morgan UK | 1 |
| Anthony Coombs · Chair | S&U Plc | 1 |
| Ashley Alder · Chair | Financial Conduct Authority | 1 |
| Bim Afolami · Economic Secretary to the Treasury | HM Treasury | 1 |
| Carol Knight · Chief Executive Officer, Membership Services | The Investing and Saving Alliance (TISA) | 1 |
| Caroline Wagstaff · CEO | London Market Group | 1 |
| Catherine McCloskey · Deputy Director Financial Services Strategy | HM Treasury | 1 |
| Charles McManus · Chief Executive Officer | ClearBank | 1 |
| Charles Randell CBE · Senior Consultant | Slaughter and May | 1 |
| Chris Cummings · Chief Executive Officer | The Investment Association | 1 |
| Chris Hayward · Policy Chairman | The City of London Corporation | 1 |
| Chris Pond · Chair | Financial Inclusion Commission | 1 |
| Christopher J. Lay · Chief Executive Officer | Marsh McLennan UK | 1 |
| Cuan Coulter · Executive Vice President, Global Head of Asset Ma… | State Street | 1 |
| David Bailey · Executive Direction for Prudential Policy | Prudential Regulation Authority | 1 |
| David Geale · Managing Director | Payment Systems Regulator | 1 |
| David Postings · Chief Executive | UK Finance | 1 |
| Debbie Crosbie · Chief Executive | Nationwide Building Society | 1 |
| Emma Reynolds MP · Secretary of State | Department for Environment Food and Rural Affairs | 1 |
| Hani Kablawi · Head of International | BNY | 1 |
| Hannah Gurga · Director General | Association of British Insurers | 1 |
| Helen Charlton · Chair | FCA Financial Services Consumer Panel | 1 |
| Jack Inglis · Chief Executive Officer | Alternative Investment Management Association (AIMA) | 1 |
| Janine Hirt · Chief Executive Officer | Innovate Finance | 1 |
| Jonathan Hewitt · Working Group Chair | FCA Financial Services Consumer Panel | 1 |
| Julie Hunter · Member | FCA Financial Services Consumer Panel | 1 |
| Julie-Ann Haines · Chief Executive Officer | Principality Building Society | 1 |
| Kerstin Mathias · Director of Policy and Innovation | The City of London Corporation | 1 |
| Lionel Assant · Global Co-Chief Investment Officer | Blackstone | 1 |
| Lisa Laybourn · Director of Technical Policy and Risk | The Investing and Saving Alliance (TISA) | 1 |
| Michael Moore · Chief Executive | British Private Equity and Venture Capital Association (BVCA) | 1 |
| Mike Regnier · Chief Executive Officer | Santander UK | 1 |
| Miles Celic · Chief Executive Officer | TheCityUK | 1 |
| Nigel Terrington · Chief Executive Officer | Paragon Banking Group | 1 |
| Nikhil Rathi · Chief Executive | Financial Conduct Authority | 1 |
| Peter Tutton · Head of Policy, Research and Public Affairs | StepChange Debt Charity | 1 |
| Professor Kern Alexander | University of Zurich | 1 |
| Richard Davies · Chief Executive Officer | Allica Bank | 1 |
Showing 40 of 52.
Correspondence
| Date | Direction | Title |
|---|---|---|
| 15 Dec 2025 | To cttee | Letter from Lucy Rigby KC MP, Economic Secretary to the Treasury, to Lord Forsy… |
| 31 Oct 2025 | To cttee | Letter from Lord Forsyth of Drumlean to the Rt Hon. Rachel Reeves MP, Chancello… |
| 4 Sep 2025 | — | Response by the FCA to the Committee’s 2nd Report of Session 2024–25, ‘Growing … |
| 3 Sep 2025 | — | Response by the PRA to the Committee’s 2nd Report of Session 2024–25, ‘Growing … |
| 9 Apr 2025 | To cttee | Letter from Nikhil Rathi, Chief Executive of the FCA, to Lord Forsyth of Drumle… |
| 27 Mar 2025 | To cttee | Letter from Nikhil Rathi, Chief Executive of the FCA, to Lord Forsyth of Drumle… |
| 27 Mar 2025 | To cttee | Letter from Lord Forsyth of Drumlean to Nikhil Rathi, Chief Executive of the FC… |
| 24 Jan 2025 | To cttee | Letter from Dave Ramsden, Deputy Governor for Markets and Banking at the Bank o… |