HC Deb 09 December 1999 vol 340 c635W
Mr. Love

To ask the Chancellor of the Exchequer how many financial services company staff have been disciplined by the regulator in each of the last 10 years; how many of those staff lost their employment as a result; and if he will make a statement. [99640]

Miss Melanie Johnson

The number of individuals disciplined by the self-regulatory organisations since 1990 are as follows:

Calendar year Number
1990 3
1991 5
1992 13
1993 10
1994 34
1995 22
1996 38
1997 35
1998 24
1999 (to date) 17
Total 201

Formal disciplinary action against individuals by the self-regulatory organisations can take several forms. These include public reprimand, fine, imposition of conditions on employment or termination or suspension of an individual's personal registration.

These numbers do not include instances of shortcomings among other staff which have been dealt with by other internal corrective procedures within their employer firms. Such action can, for instance, include retraining or even dismissal. The regulators do not monitor the number of staff dismissed as a result of their disciplinary action.

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