To ask the Minister of State, Department for Business, Innovation and Skills if he will introduce legislation to replace the recognised professional bodies with a single statutory regulator. (263853)

The Government have no plans to replace the existing professional bodies. In 2002 Parliament set up the current regime, which gives the Financial Reporting Council and its operating bodies oversight over the recognised professional bodies. This is kept under review by the Government, but the Government have no evidence that this system is not working well.