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1131377

registered interest
date	11/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	1
legislature	25259 pref label House of Commons
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.
tabling member constituency	Blackpool South
tabling member printed	Gordon Marsden
uin	263057
answer	answer is ministerial correction date of answer 17/06/2019 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> answering member constituency Salisbury answering member printed John Glen question first answered 17/06/2019 14:30:39 answering member 4051 label Biography information for John Glen
tabling member	465 label Biography information for Gordon Marsden

1127519

registered interest
date	20/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	1
legislature	25259 pref label House of Commons
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.
tabling member constituency	Canterbury
tabling member printed	Rosie Duffield
uin	256332
answer	answer is ministerial correction date of answer 23/05/2019 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> answering member constituency Salisbury answering member printed John Glen question first answered 23/05/2019 12:48:49 answering member 4051 label Biography information for John Glen
tabling member	4616 label Biography information for Rosie Duffield

1127522

registered interest
date	20/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	1
legislature	25259 pref label House of Commons
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.
tabling member constituency	Weaver Vale
tabling member printed	Mike Amesbury
uin	256333
answer	answer is ministerial correction date of answer 23/05/2019 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> answering member constituency Salisbury answering member printed John Glen grouped question UIN 256334 question first answered 23/05/2019 12:46:44 answering member 4051 label Biography information for John Glen
tabling member	4667 label Biography information for Mike Amesbury

1127523

registered interest
date	20/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	1
legislature	25259 pref label House of Commons
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.
tabling member constituency	Weaver Vale
tabling member printed	Mike Amesbury
uin	256334
answer	answer is ministerial correction date of answer 23/05/2019 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> answering member constituency Salisbury answering member printed John Glen grouped question UIN 256333 question first answered 23/05/2019 12:46:44 answering member 4051 label Biography information for John Glen
tabling member	4667 label Biography information for Mike Amesbury

1126946

registered interest
date	15/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	1
legislature	25259 pref label House of Commons
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.
tabling member constituency	Hove
tabling member printed	Peter Kyle
uin	254850
answer	answer is ministerial correction date of answer 20/05/2019 answer text <p>Further details of this investigation will be published shortly.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 254851 254852 question first answered 20/05/2019 15:59:43 answering member 4051 label Biography information for John Glen
tabling member	4505 label Biography information for Peter Kyle

1126949

registered interest
date	15/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	1
legislature	25259 pref label House of Commons
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.
tabling member constituency	Hove
tabling member printed	Peter Kyle
uin	254851
answer	answer is ministerial correction date of answer 20/05/2019 answer text <p>Further details of this investigation will be published shortly.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 254850 254852 question first answered 20/05/2019 15:59:43 answering member 4051 label Biography information for John Glen
tabling member	4505 label Biography information for Peter Kyle

1126951

registered interest
date	15/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	1
legislature	25259 pref label House of Commons
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.
tabling member constituency	Hove
tabling member printed	Peter Kyle
uin	254852
answer	answer is ministerial correction date of answer 20/05/2019 answer text <p>Further details of this investigation will be published shortly.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 254850 254851 question first answered 20/05/2019 15:59:43 answering member 4051 label Biography information for John Glen
tabling member	4505 label Biography information for Peter Kyle

1126719

registered interest
date	14/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether the proposed independent review of the Financial Conduct Authority's (FCA) supervision of London Capital and Finance will be supported by (1) an independent secretariat, or (2) secondees from the (a) FCA, (b) Prudential Regulation Authority, (c) HM Treasury, or (d) Bank of England.
tabling member printed	Lord Myners
uin	HL15736
answer	answer is ministerial correction date of answer 23/05/2019 answer text <p>On 23<sup>rd</sup> May, the Economic Secretary to the Treasury laid before Parliament a Direction requiring the Financial Conduct Authority (FCA) to carry out an independent investigation into the events and circumstances surrounding the failure of London Capital and Finance. The operational resourcing of this investigation will be a matter for the FCA and Dame Elizabeth Gloster, the independent investigator it appointed.</p> answering member printed Lord Young of Cookham question first answered 23/05/2019 16:38:21 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

1124419

registered interest
date	01/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether Treasury ministers or officials have been in discussions with the Financial Conduct Authority (FCA) about the establishment by the latter of an independent review into the FCA’s supervision of London Capital & Finance; and why the terms of reference of the review and the identity of the independent reviewer have not yet been published.
tabling member printed	Lord Myners
uin	HL15468
answer	answer is ministerial correction date of answer 15/05/2019 answer text <p>This Government takes the failure of London Capital &amp; Finance (LCF) and its impact on consumers very seriously. The independent investigation will seek to 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>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 the appointment of the independent investigator, will be published shortly.</p> answering member printed Lord Young of Cookham question first answered 15/05/2019 11:31:21 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

1110006

registered interest
date	05/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on the collapse of London Capital & Finance Ltd.
tabling member constituency	Croydon North
tabling member printed	Mr Steve Reed
uin	241437
answer	answer is ministerial correction date of answer 10/04/2019 answer text <p>The Government takes very seriously the failure of London Capital and Finance (LCF). On 1 April, I wrote to the Chair at the Financial Conduct Authority, Charles Randell, to say I will use powers under the Financial Services Act 2012 to direct the FCA to launch an investigation into the events at LCF and the circumstances surrounding them. This followed a request to me from Charles Randell to launch such an investigation.</p> answering member constituency Salisbury answering member printed John Glen question first answered 10/04/2019 15:20:43 answering member 4051 label Biography information for John Glen
tabling member	4268 label Biography information for Steve Reed