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Stewart Ford

Question for HM Treasury

UIN 210312, tabled on 14 October 2014

To ask Mr Chancellor of the Exchequer, if he will take steps to ensure that Financial Conduct Authority disciplinary proceedings relating to Stewart Ford, formerly of Keydata Investment Services, are concluded as quickly as possible.

Answered on

17 October 2014

The Government appreciates the real difficulties and the serious implications the Keydata issue has had for investors and is following the situation closely.

The Financial Conduct Authority (FCA) is an independent non-governmental body responsible for regulating and supervising the financial services industry within the framework of statutory objectives and duties agreed by Parliament. Although the Treasury is responsible for the legal framework, it has strictly limited powers in relation to the FCA. In particular the Treasury has no general power of direction over the FCA and cannot direct its enforcement activities.

Answered by

Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.