An independent watchdog should be established to keep tabs on the UK’s regulators, a House of Lords committee has recommended. The Industry and Regulators Committee’s inquiry into UK regulators found the country’s watchdogs are overloaded with objectives; conflicted on those objectives; unable to attract new talent; and too closely tied to politics. To tackle these issues, the Committee has called for the creation of an ‘Office for Regulatory Performance’ to investigate and report on regulators’ performance and support Parliament in holding regulators to account.
Lords call for regulators’ regulator to regulate regulation
