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Volume 475: debated on Thursday 1 May 2008

To ask the Chancellor of the Exchequer if he will make an assessment of the effectiveness of the board members of the Financial Services Authority in undertaking regulation of the banking sector. (202698)

The regulation of the banking sector is ultimately a matter for the Financial Services Authority (FSA). The FSA is independent from the Government although subject to the provisions of the Financial Services and Markets Act 2000 (FSMA).