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Fourteenth Report - Investigation into the British Steel Pension Scheme

Public Accounts Committee HC 251 Published 21 July 2022
Report Status
Government responded
Conclusions & Recommendations
23 items (5 recs)
Government Response
AI assessment · 23 of 23 classified
Accepted 1
Accepted in Part 1
Acknowledged 15
Deferred 1
Not Addressed 2
Rejected 3
Government response
Treasury minutes: Government response to the Committee of Public Accounts on the Fourteenth report from Session 2022-23 · published 14 Oct 2022
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Recommendations & Conclusions

1 item
3 Recommendation Accepted in Part

The Financial Conduct Authority has not been sufficiently proactive or timely in using its enforcement...

Recommendation
The Financial Conduct Authority has not been sufficiently proactive or timely in using its enforcement powers. To date, the FCA has issued one fine in response to the BSPS case, and while it has 30 more enforcement actions in place, … Read more
Government Response Summary
The FCA will provide a high-level update on enforcement activity and the Treasury outlined existing mechanisms to address activity outside the FCA's perimeter, but did not commit to specific changes to enforcement powers or the regulatory perimeter.
HM Treasury
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