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1133997
star this property registered interest false more like this
star this property date remove maximum value filtermore like thismore than 2019-06-24
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps his Department taking following the collapse of London Capital & Finance to ensure that mini-bond holders in Crewe and Nantwich will be properly compensated. more like this
star this property tabling member constituency Crewe and Nantwich more like this
star this property tabling member printed
Laura Smith more like this
star this property uin 268490 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-07-02more like thismore than 2019-07-02
star this property answer text <p>The administrators for London Capital &amp; Finance (LCF) are currently estimating recoveries for investors affected by LCF’s failure.</p><p>The Financial Services Compensation Scheme (FSCS), as the compensation scheme of last resort, can only provide compensation for claims connected with certain types of regulated activities. They are working closely with LCF’s administrators and the Financial Conduct Authority (FCA) to understand more about LCF’s activities and whether there are grounds for compensation.</p><p> </p><p>The FSCS is an independent non-governmental body. The FSCS carries out its compensation function within rules set by the Prudential Regulation Authority (PRA) and the FCA, who are also independent of Government.</p><p>If there are circumstances that give rise to potentially valid claims, the FSCS will communicate this on their website. They have invited LCF investors to register for updates on their website. More information on this can be found at https://www.fscs.org.uk/failed-firms/lcf/.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2019-07-02T14:21:12.913Zmore like thismore than 2019-07-02T14:21:12.913Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4648
star this property label Biography information for Laura Smith more like this
1131377
star this property registered interest false more like this
star this property date less than 2019-06-11more like thismore than 2019-06-11
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, whether he plans to establish an ad hoc compensation scheme for people affected by the collapse of London Capital and Finance. more like this
star this property tabling member constituency Blackpool South more like this
star this property tabling member printed
Gordon Marsden more like this
star this property uin 263057 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-06-17more like thismore than 2019-06-17
star this property answer text <p>The administrators for London Capital &amp; Finance (LCF) are currently estimating recoveries for investors affected by LCF’s failure.</p><p>The Financial Services Compensation Scheme (FSCS), as the compensation scheme of last resort, can only provide compensation for claims connected with certain types of regulated activities. They are working closely with LCF’s administrators and the Financial Conduct Authority to understand more about LCF’s activities and whether there are grounds for compensation.</p><p>If there are circumstances that give rise to potentially valid claims, the FSCS will communicate this on their website. They have invited LCF investors to register for updates on their website. More information on this can be found at https://www.fscs.org.uk/failed-firms/lcf/.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2019-06-17T14:30:39.143Zmore like thismore than 2019-06-17T14:30:39.143Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
465
star this property label Biography information for Gordon Marsden more like this
1129548
star this property registered interest false more like this
star this property date less than 2019-06-04more like thismore than 2019-06-04
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government why 12 months have been allowed for the completion of Dame Elizabeth Gloster's inquiry into the circumstances surrounding the collapse of investment firm London Capital &amp; Finance and the Financial Conduct Authority’s supervision of the firm. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16033 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-06-18more like thismore than 2019-06-18
star this property answer text <p>On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at London Capital &amp; Finance (LCF), and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it. The investigation will look at the events and circumstances surrounding the failure of LCF and whether, in its supervision of LCF, the FCA discharged its functions in a manner which enabled it to effectively fulfil its statutory objectives. Dame Elizabeth will be able to consider any other matters she deems relevant to the events set out in the Treasury’s direction to the FCA.</p><p> </p><p>Dame Elizabeth is an experienced barrister, leading QC and Judge at the High Court and Court of Appeal. The Treasury is satisfied that she will be able to lead a robust and independent investigation.</p><p> </p><p>The Treasury has stipulated that the investigation should be completed within 12 months, whilst allowing the investigator to report sooner than 12 months if this is feasible. This will ensure that the investigation is as thorough as possible and that the right lessons are learned to better protect those who invest their money in the future.</p>
star this property answering member printed Lord Young of Cookham more like this
star this property grouped question UIN
HL16034 more like this
HL16035 more like this
star this property question first answered
less than 2019-06-18T15:18:13.633Zmore like thismore than 2019-06-18T15:18:13.633Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
3869
star this property label Biography information for Lord Myners more like this
1129550
star this property registered interest false more like this
star this property date less than 2019-06-04more like thismore than 2019-06-04
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government why the terms of reference for Dame Elizabeth Gloster's inquiry into the circumstances surrounding the collapse of investment firm London Capital &amp; Finance and the Financial Conduct Authority’s supervision of the firm do not include the impact on affected savers. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16035 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-06-18more like thismore than 2019-06-18
star this property answer text <p>On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at London Capital &amp; Finance (LCF), and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it. The investigation will look at the events and circumstances surrounding the failure of LCF and whether, in its supervision of LCF, the FCA discharged its functions in a manner which enabled it to effectively fulfil its statutory objectives. Dame Elizabeth will be able to consider any other matters she deems relevant to the events set out in the Treasury’s direction to the FCA.</p><p> </p><p>Dame Elizabeth is an experienced barrister, leading QC and Judge at the High Court and Court of Appeal. The Treasury is satisfied that she will be able to lead a robust and independent investigation.</p><p> </p><p>The Treasury has stipulated that the investigation should be completed within 12 months, whilst allowing the investigator to report sooner than 12 months if this is feasible. This will ensure that the investigation is as thorough as possible and that the right lessons are learned to better protect those who invest their money in the future.</p>
star this property answering member printed Lord Young of Cookham more like this
star this property grouped question UIN
HL16033 more like this
HL16034 more like this
star this property question first answered
less than 2019-06-18T15:18:13.713Zmore like thismore than 2019-06-18T15:18:13.713Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
3869
star this property label Biography information for Lord Myners more like this
1127519
star this property registered interest false more like this
star this property date less than 2019-05-20more like thismore than 2019-05-20
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, if he will publish the directions, as listed under section 78(5) of the Financial Services Act 2012, which the Treasury has given to the Financial Conduct Authority for its inquiry into London Capital & Finance. more like this
star this property tabling member constituency Canterbury more like this
star this property tabling member printed
Rosie Duffield more like this
star this property uin 256332 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-23more like thismore than 2019-05-23
star this property answer text <p>I have today laid a Direction before Parliament requiring the Financial Conduct Authority to carry out an independent investigation into the events and circumstances surrounding the failure of London Capital and Finance.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2019-05-23T12:48:49.07Zmore like thismore than 2019-05-23T12:48:49.07Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4616
star this property label Biography information for Rosie Duffield more like this
1127522
star this property registered interest false more like this
star this property date less than 2019-05-20more like thismore than 2019-05-20
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps his Department taking in relation to unregulated mini-bonds following the collapse of London Capital & Finance. more like this
star this property tabling member constituency Weaver Vale more like this
star this property tabling member printed
Mike Amesbury more like this
star this property uin 256333 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-23more like thismore than 2019-05-23
star this property answer text <p>On 1 April, the Government announced it will direct the Financial Conduct Authority (FCA) to launch an investigation into the events and circumstances surrounding the failure and placing into administration of London Capital and Finance plc (LCF). This followed a request from the FCA Chair, Charles Randell, to launch such an investigation.</p><p> </p><p>On 23 May 2019, the Government laid a direction before Parliament setting out the terms of the investigation. Alongside this, the Government announced it will separately review the wider policy questions raised by this case.</p><p> </p><p>Although operationally independent, the Financial Services Compensation Scheme (FSCS) and the FCA are both accountable to HM Treasury and to Parliament. My officials and I engage with the FCA and FSCS on an ongoing basis, and HM Treasury continues to work with the relevant bodies on the failure of LCF as a matter of priority. The FSCS is also continuing work to increase awareness and understanding of FSCS protection.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
unstar this property grouped question UIN 256334 more like this
star this property question first answered
less than 2019-05-23T12:46:44.583Zmore like thismore than 2019-05-23T12:46:44.583Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4667
star this property label Biography information for Mike Amesbury more like this
1127523
star this property registered interest false more like this
star this property date less than 2019-05-20more like thismore than 2019-05-20
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what discussions he has had with representatives of the (a) Financial Conduct Authority and (b) Financial Services Compensation Scheme to ensure that investors in mini-bonds such have adequate information on the risks of such schemes before investing following the collapse of London Capital & Finance. more like this
star this property tabling member constituency Weaver Vale more like this
star this property tabling member printed
Mike Amesbury more like this
star this property uin 256334 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-23more like thismore than 2019-05-23
star this property answer text <p>On 1 April, the Government announced it will direct the Financial Conduct Authority (FCA) to launch an investigation into the events and circumstances surrounding the failure and placing into administration of London Capital and Finance plc (LCF). This followed a request from the FCA Chair, Charles Randell, to launch such an investigation.</p><p> </p><p>On 23 May 2019, the Government laid a direction before Parliament setting out the terms of the investigation. Alongside this, the Government announced it will separately review the wider policy questions raised by this case.</p><p> </p><p>Although operationally independent, the Financial Services Compensation Scheme (FSCS) and the FCA are both accountable to HM Treasury and to Parliament. My officials and I engage with the FCA and FSCS on an ongoing basis, and HM Treasury continues to work with the relevant bodies on the failure of LCF as a matter of priority. The FSCS is also continuing work to increase awareness and understanding of FSCS protection.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
unstar this property grouped question UIN 256333 more like this
star this property question first answered
less than 2019-05-23T12:46:44.627Zmore like thismore than 2019-05-23T12:46:44.627Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4667
star this property label Biography information for Mike Amesbury more like this
1126946
star this property registered interest false more like this
star this property date less than 2019-05-15more like thismore than 2019-05-15
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what the terms of reference are for the investigation by the Financial Conduct Authority into the failure of London Capital & Finance. more like this
star this property tabling member constituency Hove more like this
star this property tabling member printed
Peter Kyle more like this
star this property uin 254850 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-20more like thismore than 2019-05-20
star this property answer text <p>Further details of this investigation will be published shortly.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
254851 more like this
254852 more like this
star this property question first answered
less than 2019-05-20T15:59:43.813Zmore like thismore than 2019-05-20T15:59:43.813Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4505
star this property label Biography information for Peter Kyle more like this
1126949
star this property registered interest false more like this
star this property date less than 2019-05-15more like thismore than 2019-05-15
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what level of (a) financial resources and (b) personnel has been allocated to the investigation by the Financial Conduct Authority into the issues raised by the failure of London Capital & Finance. more like this
star this property tabling member constituency Hove more like this
star this property tabling member printed
Peter Kyle more like this
star this property uin 254851 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-20more like thismore than 2019-05-20
star this property answer text <p>Further details of this investigation will be published shortly.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
254850 more like this
254852 more like this
star this property question first answered
less than 2019-05-20T15:59:43.857Zmore like thismore than 2019-05-20T15:59:43.857Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4505
star this property label Biography information for Peter Kyle more like this
1126951
star this property registered interest false more like this
star this property date less than 2019-05-15more like thismore than 2019-05-15
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what the timescale is for the investigation by the Financial Conduct Authority into the failure of London Capital & Finance. more like this
star this property tabling member constituency Hove more like this
star this property tabling member printed
Peter Kyle more like this
star this property uin 254852 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-20more like thismore than 2019-05-20
star this property answer text <p>Further details of this investigation will be published shortly.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
254850 more like this
254851 more like this
star this property question first answered
less than 2019-05-20T15:59:43.907Zmore like thismore than 2019-05-20T15:59:43.907Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4505
star this property label Biography information for Peter Kyle more like this