Financial Conduct Authority: Fines

(asked on 14th February 2019) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the 10 December 2018 Financial Times article FCA fines against individuals almost treble, whether his Department has made an assessment of the reasons for which fines issued by the Financial Conduct Authority decreased 88 per cent between 2017 and 2018.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 19th February 2019

The Financial Conduct Authority (FCA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act (2000). In view of this independence, HMT does not make an assessment of the fines issued by the FCA. The FCA provides year on year analysis of the fines it levies in its annual enforcement report. The 2017/18 report can be found here:

https://www.fca.org.uk/publication/corporate/annual-report-2017-18-enforcement-performance.pdf

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