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1140474
registered interest false more like this
date less than 2019-07-18more like thismore than 2019-07-18
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Financial Institutions: Fines remove filter
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what is the total (1) number, and (2) amount, of fines that have been imposed on banks and other companies in the financial sector since 2015; and what the money collected has been used for. more like this
tabling member printed
Lord Kennedy of Southwark more like this
uin HL17307 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-23more like thismore than 2019-07-23
answer text <p>Information on the fines imposed on financial sector firms can be found on the FCA’s website.</p><p> </p><p>Between financial years 2015/16 and 2018/19 the Financial Conduct Authority and the Prudential Regulation Authority have levied a total of 37 fines on banks and other financial sector firms. The total amount fined over this four year period was one billion, three hundred and sixty seven million pounds.</p><p> </p><p>Since 2015 money from these fines, minus enforcement costs, has been transferred directly to the Government’s consolidated fund. Fine income entering the Consolidated Fund is not earmarked for any specific purpose but is instead part of the Government’s total revenues. Government revenues are used to pay for all Government spending on public services.</p> more like this
answering member printed Lord Young of Cookham more like this
question first answered
less than 2019-07-23T16:24:18.283Zmore like thismore than 2019-07-23T16:24:18.283Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
4153
label Biography information for Lord Kennedy of Southwark more like this