Treasury reforms to banks ombudsman threaten independence, MPs warn Regulation The Treasury’s reforms to the banks ombudsman threaten to upend the body’s independence, a group of influential MPs have warned. The government revealed its overhaul proposals for the financial ombudsman service (FOS) on Tuesday in a bid to curb concerns it had behaved as a “quasi-regulator”. But a fresh letter to City minister Lucy Rigby [...]
Good regulation can support growth without increasing risk Opinion The debate about regulation and growth has become stuck in an Animal Farm world of less regulation good; more regulation bad, or vice versa, depending on political persuasion. The more serious question is about quality, says Omar Salem Dame Meg Hillier MP, chair of the influential Treasury Select Committee, has called for the government to [...]
MPs demand answers from Meta on finfluencers complaints Investing An influential group of MPs has demanded that Meta outline its track record responding to requests to remove damaging content from finfluencers, after the Financial Conduct Authority (FCA) named the Facebook and Instagram owner as the sector’s worst offender. Chair of the Treasury Committee Meg Hillier issued a letter to the social media giant earlier [...]
MPs flag ‘major concerns’ over errors in labour survey November 21, 2024 An influential group of MPs has taken aim at the UK’s national numbers body today amid fears that errors in its labour survey are hamstringing “accurate” economic policy making. The chair of the Treasury Select Committee, Meg Hillier – a Labour MP – wrote to the boss of the UK Statistics Authority, Professor Sir Ian [...]