§ Sue DoughtyTo ask the Chancellor of the Exchequer how many directors of the Board of the Financial Services Authority have(a) past and (b) current experience of working in the financial services industry; and if he will list them. [123626]
§ Mr. BoatengThere are four Executive Directors and five Non-Executive Directors of the FSA Board that have current experience of working in the financial services industry and two Non-Executive Directors that have past experience. These are:
Current experience Sir Howard Davies Executive Chairman Tom de Swann Non-Executive Director Michael Foot Executive Managing Director Sir Andrew Large Non-Executive Director Gillian Nott Non-Executive Director Christopher Rodigues Non-Executive Director Carol Sergeant Executive Managing Director Stephen Thieke Non-Executive Director John Tiner Executive Managing Director Past experience Kyra Hazou Non-Executive Director Moira Black Non-Executive Director
§ Matthew GreenTo ask the Chancellor of the Exchequer what meetings Treasury ministers have had with the Financial Services Authority in the last year. [123893]
§ Mr. BoatengThe Chancellor met the FSA Board on 17 October 2002. In addition Treasury Ministers have held a number of informal meetings with Sir Howard Davies and his managing directors throughout the year.
§ Matthew GreenTo ask the Chancellor of the Exchequer how the Financial Services Authority is accountable to HM Treasury. [123894]
§ Mr. BoatengThe FSA is obliged under the terms of the Financial Services and Markets Act (2001) to produce an annual report assessing performance against its statutory objectives and principles of good 873W regulation. It is primarily through this mechanism that the FSA is primarily held accountable to HM Treasury Ministers and Parliament.
The annual report for 2002–3 was published on Tuesday 17 June 2003 and copies are available in the Libraries of both Houses.