Credit

(asked on 29th June 2022) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has raised concerns about the use of Sponsor Designated legal advice in the UK debt market with the (a) Financial Conduct Authority and (b) Solicitors Regulation Authority during the last five years; and if he will make statement.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 4th July 2022

The UK is well known internationally as a hub for high quality capital markets backed by strong and effective regulation. The Treasury is committed to ensuring the proper functioning of capital markets, including working with the Financial Conduct Authority to monitor any potential risks to UK markets.

The Treasury is not aware of any concerns that Sponsor Designation of legal advice poses a risk to UK debt markets, and as such has not raised this matter with the Financial Conduct Authority or the Solicitors Regulation Authority.

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