The UK’s Treasury has launched a review of the Financial Conduct Authority (FCA)’s enforcement and decision making processes.

According to the Treasury, the examination aims to ascertain whether the regulators’ institutional arrangements and processes for enforcement decision- making display the necessary levels of: "Fairness, transparency, speed and efficiency".

The Treasury called for evidence from the FCA and the Prudential Regulation Authority (PRA), which is also being investigated, to be submitted by 4 July, and aims to host roundtable discussions involving stakeholders throughout June.

When approached by Leasing Life, the FCA declined to comment, except to say the review "did not come out of the blue" and was a recommendation "expected as part of the banking standards commission…published last year".

When asked if any particular instance had prompted the review, an FCA spokesperson said: "No, it is something they had been committed to doing for over a year".

The FCA added they were working with the treasury and confirmed the publication date for the Treasury’s findings is later this year.

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Chancellor George Osborne said: "The government has taken action to provide a welcoming business environment for those in the financial services industry who play by the rules whilst ensuring that those intent on breaking them are held to account.

"I am committed to ensuring that the financial services regulators pursue a model of enforcement that delivers the appropriate balance of fairness, transparency, speed and efficiency."