Treasury Select Committee

Role – Treasury Committee

The Treasury Committee is appointed by the House of Commons to examine the expenditure, administration and policy of HM Treasury, HM Revenue & Customs, and associated public bodies, including the Bank of England and the Financial Conduct Authority.

The Treasury Committee is one of the 19 Select Committees related to Government Departments, established by the House of Commons under Standing Order No. 152.

The Committee chooses its own subjects of inquiry.  Depending on the subject, external deadlines, and the amount of oral evidence the Committee decides to take, an inquiry may last for several months and give rise to a report to the House; other inquiries may simply consist of a single day’s oral evidence which the Committee may publish without making a report.

When the Committee has chosen an inquiry it normally issues a press notice outlining the main themes of inquiry and inviting interested parties to submit written evidence. It may also identify possible witnesses and issue specific invitations to them to submit written evidence.

The House has given the Committee the power to send for “persons, papers and records”.  It therefore has powers to insist upon the attendance of witnesses and the production of papers and other material.  These formal powers are rarely used.

Scope of the inquiry       Terms of reference for SME Finance inquiry

This inquiry will take a broad look at the state of the market for SME finance.

In particular, it will consider the extent of competition in the market, the various sources of funding available to small businesses, including crowdfunding and peer-to-peer lending, and whether the current regulatory framework provides appropriate protection to SMEs when they borrow money, taking into account the lessons to be learned from RBS’ Global Restructuring Group (GRG).

UK Finance submission

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Evidence given by Simon Walker CBE, Independent Chair of UK SME Complaints and Resolution Review, Professor Christopher Hodges, Professor of Justice Systems, University of Oxford      23 Oct 2018 – SME Finance – oral evidence | PDF version (241 KB) HC 805 |

MR JIM SHANNON MP LETTER TO MR ANDREW BAILEY (FCA CEO) on 19 SEPTEMBER 2017 and HIS REPLY DATED 20 NOVEMBER 2017 and TSC SME Finance Report dated 26 October 2018 Section 3 extracts re pre FSMA2000 law and Mr Andrew Bailey letter dated 30 January 2018 on the Regulatory Perimeter