Written question asked by Christopher Chope (Conservative) on Thursday, 1 November 2001, in the House of Commons. It was due for an answer on Monday, 19 November 2001. It was answered by Ruth Kelly (Labour) on Monday, 19 November 2001 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, what the cost to public funds was of the review by the FSA of its role in the regulation of Equitable Life.

Answer: Mr. Chope: To ask the Chancellor of the Exchequer what the cost to public funds was of the review by the FSA of its role in the regulation of Equitable Life. [12823] Ruth Kelly: The cost of the review by the FSA of its role in the regulation of Equitable Life will be met by the insurance industry. Some of the costs have already been recovered by way of fees imposed by the existing regulators (the PIA and the Treasury). Once the Financial Services and Markets Act 2000 comes fully into force, the remaining costs will be recovered by the FSA by way of fees.

Secondary information

Type: Written question
Reference: 12823; 375 c135W;375 c134-5W
Session: 2001-02
Subjects: Costs Insurance companies Financial Services Authority Equitable Life Assurance Society Pensions Life insurance Regulation Reviews
Link: View this Written question on www.publications.parliament.uk