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Financial Conduct Authority

HM Treasury written question – answered on 18th June 2015.

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Photo of Louise Haigh Louise Haigh Labour, Sheffield, Heeley

To ask Mr Chancellor of the Exchequer, with reference to the Thirteenth Report of the Treasury Committee, Session 2014-15, Press briefing of the Financial Conduct Authority's (FCA) business plan for 2014-15, published 17 March 2015, what assessment he has made of the extent to which the FCA is fulfilling its statutory objectives.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

The Financial Conduct Authority (FCA) is operationally independent from Government and carries out is functions within the framework of statutory objectives and duties agreed by Parliament.

Under the Financial Services Act 2012 (“the Act”) the FCA is required to prepare an annual report on its performance against its statutory objectives.

A copy of the FCA Annual Report and Accounts 2013/14 can be found at the following address - https://www.gov.uk/government/publications/financial-conduct-authority-annual-report-2013-to-2014

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