MP calls forbank clarity

He asked the Chancellor of the Exchequer, George Osborne if he would discuss with the Financial Services Authority (FSA) steps to ensure greater clarity in the additional costs applied to headline annual fees by financial institutions.

Replying on the Chancellor’s behalf Mark Hoban MP, Financial Secretary to the Treasury, said: “Treasury Ministers and officials meet members of the FSA on a regular basis to discuss a wide range of economic and financial issues. It is not the Government’s practice to provide details of such meetings.

“The FSA’s Retail Distribution Review aims to address structural problems in the distribution of retail investment products. The FSA’s work includes proposals to increase clarity and transparency for consumers.”