Financial Services Regulation Committee

Scrutinising financial services regulation falls within the remit of this Lords select committee, which examines policy, practice, and legislation affecting the regulation of the financial sector. The committee operates in the House of Lords and conducts oral evidence sessions with witnesses from industry, regulators, and expert commentators. Recent inquiries have focused intensively on the emerging UK stablecoins regime, reflecting the rapid development of digital asset markets and associated regulatory gaps. The committee has heard testimony from major fintech firms including Revolut and Circle, alongside payments incumbents such as Mastercard, to understand commercial implementation timelines and competitive implications. Evidence sessions with the Bank of England and blockchain analytics firm Chainalysis have examined the central bank's approach to stablecoins oversight and the technical compliance challenges firms face. The committee's sustained focus on the pace and design of UK stablecoins regulation demonstrates an assessment that this area merits ongoing parliamentary scrutiny as the Treasury and Financial Conduct Authority develop the framework.