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<p>The Financial Services and Markets Act 2000 establishes the framework for financial
services regulation. It provides for the Treasury and Parliament, through legislation,
to determine which activities, products and markets are regulated and fall within
the remit of the Financial Conduct Authority (FCA). The Financial Services and Markets
Act 2000 also gives the FCA a set of statutory objectives and the appropriate regulatory
tools and powers to pursue those objectives.</p><p> </p><p>The question of how the
FCA monitors and intervenes in the markets it regulates, in order to fulfil its statutory
functions, is a matter for the FCA, which is operationally independent from Government.
The FCA will respond to the Honourable Member by letter on this matter, and a copy
of the letter will be placed in the Library of the House of Commons.</p>
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