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Compliance Costs

Volume 301: debated on Tuesday 25 November 1997

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To ask the Chancellor of the Exchequer what estimates he has made of the future costs of compliance under the proposed Financial Services Authority relative to these presently applied. [17200]

The Government intend to publish a draft compliance cost assessment alongside a draft Bill when it is published for consultation in Summer 1998. It is intended that the Financial Services Authority should be efficient and economic and ensure that costs and restrictions on firms are proportionate to the benefits of regulation.