Committee questions Minister on insurance and financial services regulation
The Industry and Regulators Committee will hear from the City Minister, John Glen MP, in the final session of its inquiry into commercial insurance and reinsurance regulation. The Committee will discuss whether regulatory processes for commercial insurance and reinsurance are quick and adaptive enough to maintain the competitiveness of the London Market. The Committee will also explore the Government’s plans for post-Brexit changes to financial regulation, the Government’s proposed competitiveness objective for the financial regulators and the accountability of regulators to government and Parliament.
Possible questions include:
- How should regulators’ culture be assessed and should they display more openness to new entrants and new forms of business?
- How are post-Brexit financial services reforms being prioritised?
- What is the intention behind the proposal for a secondary competitiveness objective for the financial regulators? How should this objective be operationalised within the regulators’ work?
- What roles will the Government and Parliament play in holding the regulators to account for the increased rule-making powers being delegated to them?