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HM Treasury

Financial services

NAO Report on the Financial Services Authority

In June last year, the Treasury used its powers under section 12 of the Financial Services and Markets Act 2000 to invite the National Audit Office (NAO) to carry out the first review into the economy, efficiency and effectiveness with which the Financial Services Authority has used its resources when discharging its statutory functions.

The NAO was asked to examine five main areas that were arrived at in consultation with key FSA stakeholders. These were:

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