Peers call on regulator to minimise FSCS costs

Presented by Baroness Hayter of Kentish Town and Lord Eatwell, the amendment addresses the ways in which the Prudential Regulation Authority should go about achieving its objectives. It says one of these should be by "seeking to minimise, as far as possible, the costs to the FSCS or the use of public funds to support or rescue parts of the UK financial services industry". A similar amendment was proposed by shadow financial secretary Chris Leslie MP when the bill had is commons committee stage, although he withdrew it following a request from Treasury financial secretary, Mark Hoban. ...