Correspondence

Correspondence on regulatory operational effectiveness

Exchange of letters between the Economic Secretary to the Treasury and the CEOs of the Financial Conduct Authority and Prudential Regulation Authority regarding operational effectiveness.

• From: HM Treasury and Andrew Griffith MP
• Published: 1 December 2022

This was published under the 2022 to 2024 Sunak Conservative government

Documents

Letter from the Economic Secretary to the Treasury to the CEO of the Financial Conduct Authority

PDF, 84.5 KB, 1 page

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Letter from the Economic Secretary to the Treasury to the CEO of the Prudential Regulation Authority

PDF, 84.6 KB, 1 page

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Response from the Financial Conduct Authority

PDF, 84.9 KB, 3 pages

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Response from the Prudential Regulation Authority

PDF, 330 KB, 4 pages

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Details

The Economic Secretary to the Treasury (EST), Andrew Griffith MP, has written to the CEOs of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) to highlight the importance of world-leading levels of regulatory operational effectiveness. The letters also request an update on the regulators’ plans to increase transparency on their efforts to be world-leading in terms of operational effectiveness.

Replies from the FCA CEO, Nikhil Rathi, and the PRA CEO, Sam Woods, set out their plans to publish more frequent and more detailed data on the regulators’ operational performance.

Published 1 December 2022