The CBI responded to the call for evidence on Regulatory Coordination as part of HM Treasury’s Future Regulatory Framework Review.
This call for evidence is the first publication in a number of planned interventions by the Treasury to determine the long-term effectiveness of the financial services regulatory regime. The CBI’s response called for a proportionate and targeted regulatory framework based on two key elements:
- A formal, collaborative framework that can improve coordination between regulators and firms
- The development of a new forum with all major regulatory bodies to identify key ongoing projects that require a coordinated infrastructure.
The CBI welcomes the wider debate across the sector between government, regulators and the financial services industry regarding the future of UK regulation. This includes the regulatory framework review as well as the work the Bank of England is undertaking leading on from the Future of finance review, chaired by Huw van Steenis to ensure a financial system that is fit to serve a changing economy.
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