New members of Prudential Regulation Committee to appear in front of MPs
The Treasury Committee will hold pre-commencement hearings with two new members of the Prudential Regulation Committee (PRC) next Tuesday morning.
Meeting details
The session will be divided into two. From 10:00 until approximately 10:45, Andrea Enria will give evidence to the Committee. This will be followed by a separate questioning of David Soanes for around the same length of time.
The PRC is the policy committee responsible for prudential regulation at the Bank of England. It makes the most important decisions on behalf of the Prudential Regulation Authority, which supervises banks, insurers and major investment firms.
Five members of the Prudential Regulation Committee are staff from the Bank of England, including the Governor, three Deputy Governors and Andrea Enria.The majority are external members, including the chief executive of the Financial Conduct Authority and six others selected for their experience and expertise in financial services. Mr Soanes has been appointed as an external member.
MPs will seek to determine whether both Mr Enria and Mr Soanes have the required appropriate professional competence and independence to join the PRC.
A short report will be published following the session.