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answering dept short name	Treasury
answer › attachment › title	Letter FCA
max answer › date of answer	2019-07-25

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tabling member printed

uin

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is ministerial correction

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46011

registered interest

date

31/03/2014

answering body

HM Treasury

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Treasury

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CaTreasury

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25277

	pref label	House of Lords

question text

To ask Her Majesty's Government whether they will establish a formal investigation, independent of the Financial Conduct Authority (FCA), into the FCA's handling of the announcement it made via the press on 28 March of an investigation into closed insurance funds; and whether they have made an estimate of the financial consequences of the creation of a possible false market in insurance securities as a result of the initial announcement and subsequent amendments.

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Lord Myners

uin

HL6489

answer

is ministerial correction

date of answer

11/04/2014

answer text

The Financial Conduct Authority (FCA) Board has announced an investigation which will be independent of the FCA executive. A senior independent lawyer will investigate what went wrong and make appropriate recommendations. The Chancellor has written to the Chair of the FCA setting out the questions that the investigation should answer. This includes the question of to what extent a false or disorderly market was present in the period before the FCA issued its statement of clarification. The letter was copied to the Treasury Committee and has been published on the Treasury's website.

answering member printed

Lord Newby

question first answered

11/04/2014 12:00:00

answering member

1916

	label	Biography information for Lord Newby

attachment

1

	file name	3420LW 1314.pdf
	title	Letter FCA

tabling member

3869

	label	Biography information for Lord Myners