Financial Services: Standards
Treasury
Written answers and statements, 5 November 2009

Justine Greening (- Shadow Minister, Communities and Local Government; Putney, Conservative)
To ask the Chancellor of the Exchequer
(1) which companies have referred the matter of a fine for failing to treat customers fairly to the Financial Services and Markets Tribunal since the implementation of the treating customers fairly initiative; and if he will make a statement;
(2) how many fines levied by the Financial Services Authority (FSA) against companies for failing to treat customers fairly have been (a) paid in full and (b) reduced under the FSA's executive settlement procedures since the implementation of the treating customers fairly initiative; which companies paid reduced amounts; and how much each such company paid;
(3) how many final notices have been issued by the Financial Services Authority against companies in relation to failures to treat customers fairly since the implementation of the treating customers fairly initiative; on what date each such notice was issued; and if he will make a statement;
(4) against which companies fines have been levied by the Financial Services Authority for failing to treat customers fairly since the implementation of the treating customers fairly initiative; what fine was levied in each case; and if he will make a statement;
(5) how many customer redress programmes mandated as a consequence of a Financial Services Authority (FSA) assessment that a company has failed to treat customers fairly are underway; which companies are undertaking such programmes; what proportion of customers assessed by the FSA as eligible for redress under each programme have (a) made applications for and (b) received redress; how much was (i) claimed and (ii) awarded in each case; and if he will make a statement.

Sarah McCarthy-Fry (Parliamentary Secretary, HM Treasury; Portsmouth North, Labour)
The matters raised in these questions are the responsibility of the Financial Services Authority, whose day-to-day operations are independent from Government control and influence.
