Financial Conduct Authority

(asked on 25th March 2024) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what criteria the Financial Conduct Authority uses to decide what markets to (a) monitor and (b) intervene in.


Answered by
Bim Afolami Portrait
Bim Afolami
This question was answered on 18th April 2024

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.

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.

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