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1124696
unstar this property registered interest false more like this
star this property date less than 2019-05-03more like thismore than 2019-05-03
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
star this property hansard heading London Capital & Finance more like this
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, when the investigation into the events at London Capital and Finance and the circumstances surrounding them announced by the Economic Secretary on 1 April 2019 will be completed; and whether the report of that investigation will be published. more like this
star this property tabling member constituency Hemsworth more like this
star this property tabling member printed
Jon Trickett more like this
unstar this property uin 250752 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-05-09more like thismore than 2019-05-09
star this property answer text <p>This Government takes the failure of London Capital &amp; Finance (LCF) and its impact on consumers very seriously. HM Treasury officials have been in communication with the Financial Conduct Authority (FCA) regarding LCF since January 2019. I wrote to the FCA on its role in regulating LCF via the following letter of 1 April 2019:</p><p><a href="https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf" target="_blank">https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf</a></p><p> </p><p>In this letter, I announced that I would order an investigation into the failure of LCF, using Treasury powers under section 77 of the Financial Services Act 2012. I want to make sure we have the strongest and safest financial system possible. By ordering this investigation, we will better understand the circumstances around the collapse of LCF and make sure we are properly protecting those who invest their money in the future.</p><p> </p><p>The role of the Treasury in this investigation is set out in sections 77 to 82 of the Financial Services Act 2012. It is essential that the terms of the investigation are set in a way that ensures these objectives are met and take into account any issues arising from current regulatory and enforcement investigations. HM Treasury officials are working to develop these with the relevant bodies as a matter of priority. Further details on this investigation, including its duration and the reporting arrangements, will be published shortly.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property grouped question UIN
250750 remove filter
250753 more like this
star this property question first answered
less than 2019-05-09T15:03:17.637Zmore like thismore than 2019-05-09T15:03:17.637Z
star this property answering member
4051
unstar this property label Biography information for John Glen more like this
star this property tabling member
410
star this property label Biography information for Jon Trickett more like this
1124697
unstar this property registered interest false more like this
star this property date less than 2019-05-03more like thismore than 2019-05-03
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
star this property hansard heading London Capital & Finance more like this
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, when his Department first had discussions with the Financial Conduct Authority on its performance in regulating the activity of London Finance and Capital. more like this
star this property tabling member constituency Hemsworth more like this
star this property tabling member printed
Jon Trickett more like this
unstar this property uin 250753 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-05-09more like thismore than 2019-05-09
star this property answer text <p>This Government takes the failure of London Capital &amp; Finance (LCF) and its impact on consumers very seriously. HM Treasury officials have been in communication with the Financial Conduct Authority (FCA) regarding LCF since January 2019. I wrote to the FCA on its role in regulating LCF via the following letter of 1 April 2019:</p><p><a href="https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf" target="_blank">https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf</a></p><p> </p><p>In this letter, I announced that I would order an investigation into the failure of LCF, using Treasury powers under section 77 of the Financial Services Act 2012. I want to make sure we have the strongest and safest financial system possible. By ordering this investigation, we will better understand the circumstances around the collapse of LCF and make sure we are properly protecting those who invest their money in the future.</p><p> </p><p>The role of the Treasury in this investigation is set out in sections 77 to 82 of the Financial Services Act 2012. It is essential that the terms of the investigation are set in a way that ensures these objectives are met and take into account any issues arising from current regulatory and enforcement investigations. HM Treasury officials are working to develop these with the relevant bodies as a matter of priority. Further details on this investigation, including its duration and the reporting arrangements, will be published shortly.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property grouped question UIN
250750 remove filter
250752 more like this
star this property question first answered
less than 2019-05-09T15:03:17.683Zmore like thismore than 2019-05-09T15:03:17.683Z
star this property answering member
4051
unstar this property label Biography information for John Glen more like this
star this property tabling member
410
star this property label Biography information for Jon Trickett more like this