An inquiry will be held to scrutinise the relationship between regulators and the government.
The House of Lords Industry and Regulators Committee’ has announced it will look at how regulators are held accountable.
The inquiry will also investigate the independence of regulators and the guidance given by the government to them.
Additionally, it will look at how regulators co-operate with each other, how effective they are and how they are scrutinised.
Chair of the Industry and Regulators Committee, Lord Hollick, said: “The committee has recently conducted scrutiny of regulators including Ofwat, Ofgem, The Pension Regulator, Financial Conduct Authority, Prudential Regulation Authority, and the Office for Students.
“A common area of concern arising from all these inquiries is the relationship between the regulator and the Government, and the level of independence and accountability regulators have.
“Many regulators are public bodies funded by the taxpayer and have significant powers; it is therefore vital that they are scrutinised and held to account.
“This short, cross-cutting inquiry will shine a light on the UK regulatory ecosystem and how effective it is.”
The complete list of questions, plus details how to submit evidence by the deadline of Friday 1 December, can be found on the committee’s website.
The inquiry will focus specifically on regulators that have a statutory role established by Parliament and are organised as public bodies.
According to the Department for Business and Trade, there are 90 regulators across the UK, not including local authorities.
An inquiry will be held to scrutinise the relationship between regulators and the government.
The House of Lords Industry and Regulators Committee’ has announced it will look at how regulators are held accountable.
The inquiry will also investigate the independence of regulators and the guidance given by the government to them.
Additionally, it will look at how regulators co-operate with each other, how effective they are and how they are scrutinised.
Chair of the Industry and Regulators Committee, Lord Hollick, said: “The committee has recently conducted scrutiny of regulators including Ofwat, Ofgem, The Pension Regulator, Financial Conduct Authority, Prudential Regulation Authority, and the Office for Students.
“A common area of concern arising from all these inquiries is the relationship between the regulator and the Government, and the level of independence and accountability regulators have.
“Many regulators are public bodies funded by the taxpayer and have significant powers; it is therefore vital that they are scrutinised and held to account.
“This short, cross-cutting inquiry will shine a light on the UK regulatory ecosystem and how effective it is.”
The complete list of questions, plus details how to submit evidence by the deadline of Friday 1 December, can be found on the committee’s website.
The inquiry will focus specifically on regulators that have a statutory role established by Parliament and are organised as public bodies.
According to the Department for Business and Trade, there are 90 regulators across the UK, not including local authorities.
