To ask His Majesty's Government what plans they have, if any, to reform the process for appointing the Financial Conduct Authority's senior leadership and to introduce Parliamentary oversight of the appointment of its Chair.
Answered on
6 January 2025
The Government appoints the Chair, Chief Executive and Non-Executive Directors of the Financial Conduct Authority (FCA), and has no plans to reform the process for appointing the FCA’s senior leadership.
The Government and Parliament already have numerous mechanisms for holding the FCA to account and assessing its performance and effectiveness. This includes the requirement for the FCA to produce Annual Reports, and to notify relevant parliamentary committees of relevant consultations.