Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he is taking to help ensure the independence of financial services regulators.

The legislative framework underpinning financial services regulation in the UK provides for the regulators to be independent of government in their operational decisions.

Following the Future Regulatory Framework Review the regulators will take on significant new rulemaking responsibilities. It is important to balance these new responsibilities for the independent regulators with clear accountability, appropriate democratic input, and transparent oversight. Through the Financial Services and Markets Bill the government is bringing forward measures to achieve this balance.