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Financial Services Authority

Volume 450: debated on Wednesday 11 October 2006

To ask the Chancellor of the Exchequer if he will take steps to change the arrangements whereby costs are awarded in cases where financial advisers win their appeals to the Financial Services and Markets Tribunal against decisions made by the Financial Services Authority. (89944)

To ask the Chancellor of the Exchequer how much the Financial Services Authority spent on hospitality (a) between 1997 and 2004 and (b) in 2005. (90259)

This is an operational matter for the FSA. The Chairman of the FSA will write to the hon. Member directly.

To ask the Chancellor of the Exchequer what recent discussions he has had with the Financial Services Authority on its hospitality costs. (90260)

To ask the Chancellor of the Exchequer (1) what plans he has to reform the Financial Services Authority; and if he will make a statement; (90261)

(2) what recent discussions he has had with Cabinet members regarding reform of the Financial Services Authority; and if he will make a statement.

The effectiveness of the regulatory regime for financial services was considered by the Treasury’s Two-Year Review of the Financial Services and Markets Act 2000 (FSMA), the outcome of which was announced on 2 December 2004, and concluded that the framework established by FSMA is a resounding success.