treasury select committee

Treasury Select Committee slams FSA

Posted 21/01/2013 - 21:22 by anrigaut

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As reported today by CityWire:

MPs: FSA left consumers exposed to 'worst scandals' in UK history

Posted 21/01/2013 - 20:46 by anrigaut

2013-01-21 (All day)

MPs have slammed the Financial Services Authority (FSA) for ‘failing consumers’ and warned the incoming chairman of the new regulator that he must do better.

A report by the Treasury Select Committee has laid out the failings of the FSA which it said ‘left consumers exposed to some of the worst scandals in UK financial history’. ...

... The Committee goes on to criticise the board of the FSA, which includes recently knighted chief executive Hector Sants, for failing in its oversight of the organisation. ...

Related article: Should the financial regulator be fined for its mistakes?

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Treasury Select Committee UK MPs

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The BBC on the internet ( or copy the link below) under the title of 'MPs demand bail-out for charities' has reported that the Treasury Select Committee has stated that 'Deposits held b

Darling's 'duty to repay councils'

2009-02-03 16

CHANCELLOR Alistair Darling fuelled the run on Iceland's banks and has a "moral" obligation to help repay the £1billlion lost by British councils as a result, MPs were told today.

Town hall chiefs told the Treasury Select Committee that Mr Darling should pay up because he personally exacerbated the banking crisis when he stated last year that the Reykjavik government had warned it may not honour its duties to British investors.

Richard Kemp, deputy chairman of the Local Government Association (LGA), said that the Treasury should stop dragging its heels over a compensation deal with councils and should bail them out.

Mr Kemp's evidence came as depostiors in one Icelandic subsidiary also accused Mr Darling of misleading the international community about Iceland's intentions. The Kaupthing Singer and Friedlander Isle of Man Action Group (KSFIOM) claimed that there was no evidence of any warning of possible default from Reykjavik, a claim backed up by Iceland's ambassador to the UK.


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Treasury Select Committee meeting 3-Feb-2009 audio (mp3)

This audio content is copyright 2009 UK Parliament
Approx. 2 hours duration. mp3.

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Comments on the BBC from Treasury Select Committee members after 3/11 meeting

2008-11-07 (All day)

Conservative Graham Brady, Liberal Democrat John Thurso and the committee's chair, Labour's John McFall, gave their reaction to the Chancellor's comments. Even Labour's McFall was surprised by Darling's tax haven comment and they all understand, thanks to our efforts, that we are ordinary hard working savers, not tax evaders. A further investigation by the TSC is promised. Short but encouraging.

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Curious about the credit crunch? Ask Darling - Treasury hearing

Posted 03/11/2008 - 15:03 by C_south_africa

2008-11-03 (All day)

How will the credit crunch affect your savings? Is your nest egg safe in the Isle of Man? Is now a good time to be shopping around for a new mortgage?

Who better to ask than the Governor of the Bank of England - unless you can get through to the Chancellor himself?

Three of Britain's most powerful public servants face a grilling from MPs today about the world financial crisis and for the first time the questions will be provided by members of the public.

................Many of those who have sent questions in have a direct personal interest in the answers, however. They include angry depositors from the offshore Isle of Man subsidiary of the Icelandic bank Kaupthing Singer and Friedlander whose assets, totalling some £800 million, were frozen by the UK Treasury under anti-terrorism laws last month but who have not yet received any guarantee that they will get their money back.

It's too late to ask any questions of the trio. The deadline was on Saturday at 4pm, 48 hours before the hearing.

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Treasury Select Committee Live on Web 4pm UK time

Posted 03/11/2008 - 05:00 by neilbkk

2008-11-02 17

Meeting starts at 4pm
Banking Crisis

Rt Hon Alistair Darling MP, Chancellor of the Exchequer, Mervyn King, Governor of the Bank of England, and Lord Turner of Ecchinswell, Chairman of the Financial Services Authority

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