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Improving the Performance of the UK's Economic and Financial Regulators

Monday 11th of December 2023 17:45

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Sherrard Room


17:45 ~ Doors Open
18:15 ~ Lecture
19:15 ~ Reception

Expected to end at approx. 20:30

Event Details

Quangos are increasingly powerful. But the accountability of many is increasingly patchy. The scale of the quango-related work now expected of parliamentary committees, along with other distractions, has left far too many important decisions under-scrutinised and remote from those most affected: the electorate and the consumer. The result is a decline in public trust, and a deterioration in performance of some of the quangos themselves. 

The Rt Hon Lord Andrew Tyrie proposes a new specialist body, the Parliamentary Regulatory Oversight Panel (or PROP), which would give Parliament the tools and expertise that its already hard-pressed select committees require for more effective oversight. 

The body would be staffed and led by full-time subject matter experts – those who had, or could develop, a deep understanding and experience of regulatory practice and decision-making. It would initially focus on the Bank of England, working under the auspices of the Treasury Select Committee, but could and should be expanded to include other regulators once it proved its worth. 

Lord Tyrie argues that this would substantially increase the quality of scrutiny of these vitally important organisations, and at comparatively low cost.

Students and transferring lawyers need to attend the whole event including the reception in order to claim a Qualifying Session. 

Who can Attend

This event is for members only.

Dietary Requirements

Qualifying Session Details

Click here to see details of the QS Requirements and how to be credited with the QS for this session

Learning Aims:

After this session, students should be able to:

  • Define the role of Quangos.
  • Explain the proposed role of the Parliamentary Regulatory Oversight Panel
  • Examine how the Parliamentary Regulatory Oversight Panel would increase the quality of scrutiny of Quangos.

Links to the Professional Statement, wider workings of the Bar, administration of justice or a public interest matter

  • This QS links to the administration of justice. This session intends to help students understand the roles of Quangos and how they can be more effectively regulated.

Click here to view the BSB's Professional Statement

QS Feedback

If you have any feedback on a QS you have attended or have any suggestions for future sessions, please contact the education department on

Bookings and Cancellations

Members of the Inn can buy tickets online by clicking ‘Add to Cart’.  Please note that you must log in to book (if you have not yet created a log-in please register first).  Alternatively you can buy tickets from the Treasury Office by calling 020 7427 4800.

Unless the event sells out earlier, booking will close at 09:00 on the day of the event.


Where we have a waiting list we will offer your ticket to someone else, so please do cancel your ticket if you are no longer able to attend.

Click here to view our Bookings and Cancellation Policies

Disabled Access and Support

If you have questions about accessibility at the Inn or if you would like to request support, please email Richard Frost.

The Inn is committed to improving access to all its services and encourages members to get in touch with suggestions and feedback on how we can improve. If you feel your experience using the website or attending one of our events could be improved, please email Richard. Your suggestions will be treated in the strictest confidence.

Data Protection & Photography

Please be aware that photography, audio and video recording may take place at our events. These may be used for promotional purposes by the Inn, including in printed publications, on our website, and on our social media accounts. If you do not wish to have your photograph taken or to have images of you used, please alert the EducationTeam at the start of the event. We are unable to guarantee that you will not be included in the background of photographs that are being taken. Contact: 020 7427 4800,

All personal data that the Inn stores and processes is held in accordance with the Data Protection Act 2018 and the Inn’s Data Protection Policy. You can ask the Inn to stop using your images at any time, or request to see the personal data that the Inn holds on you. For more information please visit the Data Protection page

Times and details for this event are subject to change. Please check this webpage for the most up to date information.