Financial Services: Regulation

Treasury written question – answered on 24th March 2011.

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Photo of Stephen Lloyd Stephen Lloyd Liberal Democrat, Eastbourne

To ask the Chancellor of the Exchequer what recent assessment he has made of the effectiveness of the Financial Services Authority in relation to the regulation of independent financial advisers.

Photo of Mark Hoban Mark Hoban The Financial Secretary to the Treasury

The Financial Services Authority (FSA) is an independent body, given statutory powers by the Financial Services and Markets Act 2000 (FSMA). Its day-to-day activities, including the regulation of independent financial advisers, are conducted independently of Government. The Government do not undertake assessments of the effectiveness of discrete FSA activities.

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