§ Mr. GardinerTo ask the Chancellor of the Exchequer how many individuals have held the position of director of enforcement within the Financial Services Authority since 1 January 2000; for what periods they held office; and for what periods no postholder was in place. [4503]
§ Ruth KellyThe post of director of enforcement in the FSA is currently vacant. The previous director of enforcement held the position throughout the period from 1 January 2000 to 4 June 2001. While a new appointment is being made, the responsibilities of the post are shared between relevant FSA Managing Directors and Enforcement Heads of Department.
§ Mr. GardinerTo ask the Chancellor of the Exchequer what plans he has to ensure that the Financial Services Authority make public(a) the operating restrictions, 381W (b) the fines and (c) the other sanctions which it applies to the companies it regulates. [4492]
§ Ruth KellyThe Financial Services and Markets Act 2000 gives the FSA a wide range of powers over the firms it regulates, including the power to restrict their business and to impose financial penalties and other disciplinary sanctions, subject to proper procedural safeguards. The FSA has published details of how it will exercise these powers, and has set out its policy on publishing the sanctions which it has imposed, in its Enforcement Manual.