Financial Services Authority

HC Deb 15 January 2002 vol 378 cc228-9W

Mr. Bercow

To ask the Chancellor of the Exchequer what recent assessment he has made of the performance of the Financial Services Authority. [26117]

Ruth Kelly

The process by which the FSA is accountable for its performance, to Ministers, Parliament and the wider public, was set out in a letter from the Chancellor of the Exchequer to Sir Howard Davies, Chairman of FSA, in December 2001. A key element of the framework is that the FSA will report on its performance against its statutory objectives in its annual report, which the Treasury will submit to Parliament.

A copy of the letter has been placed in the Library of the House and was attached to a press notice, issued on 13 December 2001, which is accessible from the Treasury website.