Moved by
Lord Sikka
107: After Clause 40, insert the following new Clause—
“FCA duty to make a statement about ministerial directions on investigations
(1) The Financial Services and Markets Act 2000 is amended as follows.
(2) After section 1T (right to obtain documents and information) insert—
“1U Duty to make a statement about ministerial directions on investigations
Where a Minister directs, comments on, or intervenes with an FCA investigation into wrongdoing or malpractice by a company, the FCA must make a public statement about the nature of any such intervention.””