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Treating Customers Fairly Scheme

Volume 481: debated on Monday 27 October 2008

To ask the Chancellor of the Exchequer (1) what the average cost of investigating an independent financial adviser under the Treating Customers Fairly scheme was in the last 12 months; (229349)

(2) how many complaints the Financial Services Authority have received about independent financial advisers under the Treating Customers Fairly scheme in the last 12 months; how many were investigated; and how many investigations resulted in penalties or other sanctions being imposed on the adviser concerned.

The matters raised in these questions are the responsibility of the FSA, whose day to day operations are independent from Government control and influence. I have asked the Chief Executive of the FSA to write to the hon. Member on the issues he raises.