Currently, no one group seems to be directly responsible for developing a full understanding of the risks carried.

Andrew Tyrie

Categorized in : Technology

A crucial task is to identify the maximum level of EU market access, consistent with the need for some control on migration.

The public is eager to get beyond the slogans and exaggerated claims that have so far characterized too much of the referendum debate.

Overdue doesn't capture it. It is eight years since the collapse of HBOS in 2008. It has taken a heap of pressure from parliament to secure appropriate action from the regulators, the lion's share of the investigatory work should already have been undertaken in the preparation of the regulators' report in to the failure of the bank.

Every few months we have yet another IT failure at a major bank, these IT blunders and weaknesses are exposing millions of people to uncertainty, disruption and sometimes distress. Businesses suffer, too. We can’t carry on like this.

Getting it right - securing better protection for consumers and markets while at the same time ensuring they don't make life unduly burdensome for business, from which everyone would ultimately be the loser - is a big undertaking. The Committee will want assurance from the FCA that it is up to the job.

In the course of the investigation (into HBOS) by the regulators the FRC was invited, but turned down, the opportunity to launch an investigation into HBOS's auditor, that was a serious mistake. It is now essential, in the interests of public confidence, that the FRC get on with this investigation, and without delay.

It is essential that the MPC is -- and is seen to be --independent, it is also important that judgement is exercised in the application of rules covering such possible conflicts of interests to ensure that the MPC can have access to the widest relevant expertise.

The (Treasury) Committee is concerned about allegations involving HSBC and its Swiss private bank, banks have repeatedly told the Committee that, since the crisis, they have put in place reforms to ensure that they operate on the basis of sharply improved standards. The Committee will need reassurance that they have done so in private banking.

Clearly much more still needs to be done, the spirit may be willing - particularly at the top - but the flesh remains weak.

Having looked at the papers it seems to me pretty clear, and I'm surprised that you feel ... that it wasn't really clear.