BBA response to Treasury consultation paper on the reform of the UK regulatory framework1
14/04/2011

The British Bankers’ Association welcomes the opportunity to comment on the latest Treasury consultation paper on the reform of the UK regulatory framework.

The BBA has responded to the latest Treasury consultation paper on the reform of the UK regulatory framework. We are supportive of the broad structure of the new UK regulatory framework, including the emphasis to be placed on financial stability and the intention to establish a firmer linkage between the micro-supervision of individual firms and the addition of macro-prudential regulation intended to enhance systemic stability. This said, we see issues concerning the statutory objectives for the new bodies, the accountability mechanisms, aspects of their new powers and shortcomings in the arrangements for their working together.

The response and the covering letter to Mark Hoban MP, are avaliable via the links below.