Committee discusses powers and independence of regulators
The Industry and Regulators Committee will discuss the powers and responsibilities of regulators and the system of Parliamentary scrutiny with Sir Paul Tucker, Research Fellow at the Harvard Kennedy School and a former Deputy Governor of the Bank of England. The Committee will examine the governance of regulators, whether they are given clear objectives and what it means for regulators to be independent. The Committee will also consider the extent to which regulators are expected to address political issues.
Possible questions include:
- How successful are parliamentary committees in holding regulators to account?
- How important is it for regulators to be given clear, consistent objectives and what are the consequences when they aren’t?
- Do we expect too much of regulators, both in terms of what they are asked to do explicitly and what they are expected to do that doesn’t fall within their official responsibilities?
- What should independence mean for regulators when regulation is closely related to policy?