Financial Services Authority

Treasury written question – answered on 11th July 2012.

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Photo of Gregory Campbell Gregory Campbell Shadow Minister (International Development)

To ask the Chancellor of the Exchequer if he will carry out an investigation into the cost-effectiveness of the Financial Services Authority.

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

The Government have no plans to carry out an investigation into the cost-effectiveness of the Financial Services Authority (FSA). The FSA's successor bodies, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will be subject to full audit by the National Audit Office, including value for money studies. In addition the Treasury will have the power to order an independent inquiry into the regulators' economy, efficiency and effectiveness.

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