Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what plans he has to update the regulatory framework on suretyship.

This is a matter for the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), which are operationally independent from the government.

The question has been passed on to the FCA and PRA and they will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.