Source · Select Committees · Treasury Committee
Recommendation 19
19
Not Addressed
Paragraph: 105
Any changes to the perimeter must be matched with appropriate changes in the FCA’s resources,...
Recommendation
Any changes to the perimeter must be matched with appropriate changes in the FCA’s resources, and the FCA should republish its priorities. The Treasury should publish a policy statement on how it will analyse changes to the FCA’s perimeter and what factors it will take into account.
Government response summary AI-generated
The government's response focuses on ongoing work with online platforms to combat financial scams and the Online Safety Bill, rather than addressing the committee's specific recommendation regarding FCA resources and the Treasury's perimeter policy statement.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
105
Government Response
Not Addressed
HM Government · verbatim extract
Not Addressed
To ensure we deliver on our objectives and in the public interest, we focus our resources on those markets where we see the most potential for harm. Changes in the range of 14 HM Treasury and Financial Conduct Authority Regulatory Perimeter Meeting January 2021, published 25 February 2021 Second Special Report of Session 2021–22 17 financial products available mean the sources of harm are constantly evolving. Where changes are made to the perimeter, we take these into account as part of our ongoing planning of work. Our annual Business Plan sets out our key priorities and planned activities. It also sets out the cost of the resources we need to carry out our work. We consult annually on regulatory fees and levies to ensure that we are distributing costs appropriately across the sector.
Read the full response on Parliament ↗