Bradford and Bingley Buyers

The request was refused by The Financial Services Authority.

Dear Financial Services Authority,

Further to
http://www.bandbvaluer.org.uk/faqs.html#1

Peter Clokey of PwC, government appointed Valuer for the Nationalised business of Bradford and Bingley PLC states
at
http://www.bandbvaluer.org.uk/faqs.html#1

15. Why wasn't Bradford & Bingley sold or merged with another company prior to transfer?
Bradford & Bingley and the Tripartite authorities (HMT, BoE and FSA) tried to find buyers for the business, but did not succeed.

Whom did FSA try to sell BB. to?
How did you try to sell the business
Who valued how much to sell it at?
How much were you selling it at?
Whom responded?
Whom in the FSA was in the team responsible for this?
When did you start finding buyers?
When did you start?
What were the responses (i.e. cash offers, share offers, take overs etc..)

Please supply all the relevant documents that meet Clokeys official statement in his Assessment Notice and his statement above

Yours faithfully,

I Cau

Freedom of Information,

Our ref: FOI1905

Dear Mr Cau

Freedom of Information: Right to know request

Thank you for your request for information under the Freedom of
Information Act 2000 (the Act).

Your request was received on 15 December 2010 and will be processed in
accordance with the Act.

There may be a fee payable for the information you have requested. If
that is the case, you will be informed of the likely charges before we
proceed. The fee must be paid before the information is released.

If you have any queries please contact me.

Yours sincerely

Sandra Collins | Information Access Team | Operations Services |
Operations Business Unit
Financial Services Authority, 25 The North Colonnade, Canary Wharf,
London E14 5HS

Tel: 020 7066 7120

[1]www.fsa.gov.uk

show quoted sections

This communication and any attachments contains information which is
confidential and may be subject to legal privilege. It is for intended
recipients only. If you are not the intended recipient you must not copy,
distribute, publish, rely on or otherwise use it without our consent. Some
of our communications may contain confidential information which it could
be a criminal offence for you to disclose or use without authority. If you
have received this email in error please notify [email address]
immediately and delete the email from your computer.

The FSA reserves the right to monitor all email communications for
compliance with legal, regulatory and professional standards.

This email is not intended to nor should it be taken to create any legal
relations or contractual relationships. This email has originated from

The Financial Services Authority (FSA)
25 The North Colonnade,
Canary Wharf,
London
E14 5HS
United Kingdom

Registered as a Limited Company in England and Wales No.1920623.
Registered Office as above

Switchboard: 020 7066 1000
Web Site: http://www.fsa.gov.uk
*****************************************************************

References

Visible links
1. http://www.fsa.gov.uk/

Freedom of Information,

Our ref: FOI1905

Dear Mr Cau

Freedom of Information: Right to know request

Thank you for your request under the Freedom of Information Act 2000 (the
Act), for the following information about Bradford and Bingley. Your
request stated:

"Further to [1]http://www.bandbvaluer.org.uk/faqs.html#1 Peter Clokey of
PwC, government appointed Valuer for the Nationalised business of Bradford
and Bingley PLC states at [2]http://www.bandbvaluer.org.uk/faqs.html#1

15.(sic) Why wasn't Bradford & Bingley sold or merged with another company
prior to transfer? Bradford & Bingley and the Tripartite authorities (HMT,
BoE and FSA) tried to find buyers for the business, but did not succeed.

Whom did FSA try to sell BB. to?
How did you try to sell the business
Who valued how much to sell it at?
How much were you selling it at?
Whom responded?
Whom in the FSA was in the team responsible for this?
When did you start finding buyers?
When did you start?
What were the responses (i.e. cash offers, share offers, take overs
etc..)

Please supply all the relevant documents that meet Clokeys official
statement in his Assessment Notice and his statement above."

The Act requires us to comply with a request, unless it would be too
expensive to do so, as estimated in accordance with the Freedom of
Information and Data Protection (Appropriate Limit and Fees) Regulations
2004 ("the Regulations") made by the now Ministry of Justice. The
Regulations provide that, for the FSA, the cost limit is £450, i.e. 18
hours at the rate of £25 per person hour. The Regulations allow us to
take into account, when estimating the cost of complying with a request,
time spent determining whether we hold the information requested, locating
and retrieving it and extracting the information from the relevant
document(s).

Section 12: Exemption where cost of compliance exceeds appropriate limit

In this case we are not able to provide you with the information you have
requested because this information could potentially be held within any
one of 5,700 (approximately) electronic and paper files that we hold in
relation to Bradford and Bingley on the FSA's systems. The information
you have requested is spread across these electronic and / or paper files
and in order to answer your request, we would need to review and assess
all of these files as they are not individually indexed. At the time of
creation there was no business requirement for detailed indexing of the
information.

We estimate that to review each of the electronic files would take
approximately 1 minute to assess whether the information is relevant to
your request which would take approximately 95 hours or 13 days based on a
7 hour day.

On that basis, we estimate that the cost of retrieving the information you
have requested, and editing it to remove irrelevant information would
exceed the £450 limit. As our policy is not to divert our resources from
our regulatory functions in order to meet requests under the Act in excess
of the cost limit, we will not carry out an exercise to identify the
information you have requested.

I can advise you that the FSA made approaches to a number of financial
institutions to gauge their interest in a potential purchase of Bradford
and Bingley.

We would be happy to consider any suggestions from yourself on how you may
refine the request. However, if you decide to refine your request you
should be aware of the following:

Any information that we have received from or about Bradford and Bingley
or from financial institutions with whom interest in Bradford and Bingley
had been discussed by the FSA would have been received for the purposes of
our regulatory functions and so subject to section 348 of the Financial
Services and Markets Act 2000 (FSMA). Section 348 of FSMA prohibits the
FSA from disclosing information received for the purposes of its
functions.

If you have any queries or are unhappy with the decisions made in relation
to your request, please contact me. You may apply for an internal review
by contacting us within three months of the date of this letter if I am
unable to resolve your concerns.

If you are not content with the outcome of the internal review, you also
have a right of appeal to the Information Commissioner at:

Information Commissioner's Office

Wycliffe House

Water Lane

Wilmslow

Cheshire

SK9 5AF

Telephone: 01625 545 700

Website: [3]www.ico.gov.uk

Yours sincerely

Sandra Collins | Information Access Team | Operations Services |
Operations Business Unit
Financial Services Authority, 25 The North Colonnade, Canary Wharf,
London E14 5HS

Tel: 020 7066 7120

[4]www.fsa.gov.uk

show quoted sections

This communication and any attachments contains information which is
confidential and may be subject to legal privilege. It is for intended
recipients only. If you are not the intended recipient you must not copy,
distribute, publish, rely on or otherwise use it without our consent. Some
of our communications may contain confidential information which it could
be a criminal offence for you to disclose or use without authority. If you
have received this email in error please notify [email address]
immediately and delete the email from your computer.

The FSA reserves the right to monitor all email communications for
compliance with legal, regulatory and professional standards.

This email is not intended to nor should it be taken to create any legal
relations or contractual relationships. This email has originated from

The Financial Services Authority (FSA)
25 The North Colonnade,
Canary Wharf,
London
E14 5HS
United Kingdom

Registered as a Limited Company in England and Wales No.1920623.
Registered Office as above

Switchboard: 020 7066 1000
Web Site: http://www.fsa.gov.uk
*****************************************************************

References

Visible links
1. http://www.bandbvaluer.org.uk/faqs.html#1
2. http://www.bandbvaluer.org.uk/faqs.html#1
3. http://www.informationcommissioner.gov.uk/
4. http://www.fsa.gov.uk/