House of Lords - Auditors: Market concentration and their role - Economic Affairs Committee. Committee publishes report on financial regulation. In July 2010, the Treasury published a consultation document, 'A new approach to financial regulation: judgement, focus and stability', proposing changes to financial regulation in the United Kingdom.
The Government proposes to do away with the tripartite system, in which the Treasury, Bank of England, and Financial Services Authority work together, replacing it with a ‘twin peaks’ structure, separating macro-prudential and conduct of business regulation. Today’s Report is the Committee’s response to what has been set out so far with regard to those proposals. Financial services. Committees A-Z.