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1277466

	registered interest
	date	18/01/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Lendy
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many times the Financial Conduct Authority intervened with firms with company numbers 743416 and 622666, currently known as Lendy Ltd, to ask them to modify or withdraw a financial promotion in each year since 2014.
	tabling member constituency	Feltham and Heston
	tabling member printed	Seema Malhotra
	uin	138999
	answer	answer is ministerial correction date of answer 21/01/2021 answer text <p>As you may be aware, there is an ongoing Financial Conduct Authority (FCA) enforcement investigation into the collapse of the firms known as Lendy Ltd. It is important to stress that the independence of the FCA’s investigation, and its wider supervision of firms, is vital to its role. The FCA’s credibility, authority and value to consumers would be undermined if it were possible for the Government to intervene in such operational matters.</p><p> </p><p>As such, it is not appropriate for the Government to publicly discuss the FCA’s discharging of their supervisory duties in respect of Lendy’s financial promotions. However, I have passed your requests onto the FCA for them to respond to directly. A copy of the letter will be placed in the Library of the House.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 138998 139000 question first answered 21/01/2021 11:19:24 answering member 4051 label Biography information for John Glen
	tabling member	4253 label Biography information for Seema Malhotra

1277467

	registered interest
	date	18/01/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Lendy
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment the Financial Conduct Authority has undertaken on promotions issued by firms with company numbers 743416 and 622666, currently known as Lendy Ltd.
	tabling member constituency	Feltham and Heston
	tabling member printed	Seema Malhotra
	uin	139000
	answer	answer is ministerial correction date of answer 21/01/2021 answer text <p>As you may be aware, there is an ongoing Financial Conduct Authority (FCA) enforcement investigation into the collapse of the firms known as Lendy Ltd. It is important to stress that the independence of the FCA’s investigation, and its wider supervision of firms, is vital to its role. The FCA’s credibility, authority and value to consumers would be undermined if it were possible for the Government to intervene in such operational matters.</p><p> </p><p>As such, it is not appropriate for the Government to publicly discuss the FCA’s discharging of their supervisory duties in respect of Lendy’s financial promotions. However, I have passed your requests onto the FCA for them to respond to directly. A copy of the letter will be placed in the Library of the House.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 138998 138999 question first answered 21/01/2021 11:19:24 answering member 4051 label Biography information for John Glen
	tabling member	4253 label Biography information for Seema Malhotra

1141932

	registered interest
	date	24/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Lendy
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what steps they took to stop Lendy from declaring dividends to pay capital to that firm’s owners when Lendy was under review by the Financial Conduct Authority (FCA); and whether the FCA intends to compensate any lenders who did not receive full remediation payments as a result of a shortfall in capital.
	tabling member printed	Lord Myners
	uin	HL17476
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>The Financial Conduct Authority (FCA) is responsible for the authorisation and regulation of peer to peer (P2P) platforms, and is currently carrying out an enforcement investigation into the circumstances that led to the administration of Lendy. It would be inappropriate for Government to pre-empt its findings.</p><p> </p><p>The FCA is operationally independent from Government. The question as it relates to the FCA has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 13:36:33 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1141175

	registered interest
	date	22/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Lendy
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Financial Conduct Authority's (FCA) letter as part of the Written Answer by Lord Young of Cookham on 24 June (HL16212), whether the FCA was (1) informed, or (2) otherwise aware, that investors via Lendy Limited were creditors to a peer-to-peer platform; and whether such information could have been determined from the accounts of Lendy Limited.
	tabling member printed	Lord Myners
	uin	HL17358
	answer	answer is ministerial correction date of answer 05/08/2019 answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Young of Cookham question first answered 05/08/2019 12:02:13 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1130845

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Lendy
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether, when authorising Lendy, the Financial Conduct Authority (FCA) considered the company to be (1) an agent, or (2) a principal, in the relationship between the lender or borrower; or whether the FCA took no view on this matter.
	tabling member printed	Lord Myners
	uin	HL16212
	answer	answer is ministerial correction date of answer 24/06/2019 answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Young of Cookham question first answered 24/06/2019 13:56:52 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners