Written question asked by Barbara Follett (Labour) on Tuesday, 8 May 2001, in the House of Commons. It was due for an answer on Wednesday, 9 May 2001. It was answered by Melanie Johnson (Labour) on Wednesday, 9 May 2001 on behalf of the Treasury.

Treasury

Question: Statement on when he intends to commence powers making the Financial Services Authority the single financial services regulator under the Financial Services and Markets Act 2000.

Answer: Barbara Follett: To ask the Chancellor of the Exchequer when he intends to commence powers making the Financial Services Authority the single financial services regulator under the Financial Services and Markets Act 2000. [160978] Miss Melanie Johnson: I am pleased to announce that the Government will be commencing, with effect from 18 June 2001, provisions of the Act which make the Financial Services Authority the single financial services regulator, and give it rule-making powers. These provisions will enable the FSA to make the key provisions of its rule-book no later than end July 2001 so that the financial services industry can train and prepare for the commencement of the main provisions of the Act no later than end November 2001.

Secondary information