Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what information her Department holds on when the Financial Conduct Authority plans to respond to its consultation entitled Proposed amendments to Guidance on the treatment of politically exposed persons, published on 18 July 2024.

The Government has been working closely with the FCA to follow up on the findings of its review into the treatment of Politically Exposed Persons (PEPs) by financial institutions and to ensure firms improve their practices where necessary. The FCA expects that the revised guidance will be published and brought into effect in the first half of 2025.