Skip to main content

Financial Services Authority

Volume 709: debated on Monday 16 March 2009


Asked by

To ask Her Majesty's Government further to the Written Answer by Lord Myners on 23 February (WA 42), what assessment they have made of the operation of the jurisdiction of the Financial Services Authority; and whether they will introduce legislation if they do not view the operation of its jurisdiction as satisfactory. [HL1723]

On 6 October, the Chancellor asked Lord Turner, the chairman of the FSA, to make recommendations for reforming UK and international approaches to regulation, to ensure the future stability of the UK banking system.

The FSA's review will be published on 18 March and will address a number of issues including the FSA's supervisory approach, processes and resources—in particular whether the changes already being implemented through the FSA's supervisory enhancement programme are sufficient, given the further global developments since it was initially designed.