Pensions Mis-selling

Treasury written question – answered on 7th November 2001.

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Photo of Christopher Chope Christopher Chope Shadow Spokesperson (Treasury)

To ask the Chancellor of the Exchequer if he will make it his policy that penalties imposed by the FSA on insurance companies for mis-selling should be a charge to shareholders and not to with-profits funds; and if he will make a statement.

Photo of Ruth Kelly Ruth Kelly Economic Secretary, HM Treasury

I refer the hon. Gentleman to paragraphs 11 and 12 of the Government's response to the Treasury Committee's ninth report 1997–98 session, "The Mis-selling of Personal Pensions", which was published by the Committee as its first special report on 12 January 1998.

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