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Written question asked by John McDonnell (Labour) on Wednesday, 27 June 2018, in the House of Commons. It was due for an answer on Monday, 2 July 2018. It was answered by John Glen (Conservative) on Friday, 6 July 2018 on behalf of the Treasury.


Financial Services: Regulation

Question

To ask Mr Chancellor of the Exchequer, which (a) public, (b) private and (c) self-regulatory bodies are responsible for enforcing compliance with financial sector legislation.

Answer

It is the responsibility of the independent financial regulators, the Financial Conduct Authority, the Prudential Regulation Authority and the Payment Systems Regulator, to supervise firms’ compliance with financial sector regulations and, when necessary, take enforcement action against firms that breach the rules.


Secondary information

Type
Written question
Reference
158147
Session
2017-19
Transferred
Yes
Subjects
Enforcement Financial services Regulation
Link
View this Written question on www.parliament.uk