Financial Services and Markets Act 2000
(asked on 4th February 2016) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what information he holds on the reasons why the Financial Conduct Authority has not made use of the powers granted to it under sections 382 and 384 of the Financial Services and Markets Act 2000 to require restitution from parties who by breaking regulatory requirements cause less to others.
This question was answered on 12th February 2016
The issues raised are a matter for the Financial Conduct Authority (FCA) who are operationally independent from Government.
The questions have been passed on to the FCA. The FCA will reply directly to the Honorable Member by letter. A copy of the letter will be placed in the Library of the House.