Oral Answers to Questions

Debate between Andrew Griffith and Virendra Sharma

Tuesday 15th November 2022 Commons Chamber

[Mr Virendra Sharma (Ealing, Southall) (Lab)]

T8.   My constituent registered with a regulated firm and invested in the financial product that an FCA-regulated broker recommended. My constituent and her father both lost money on the fraudulent product that the broker recommended. Does the Minister agree that the FCA should step in and support victims of scams, and will he empower and instruct the FCA and other regulators to be more aggressive in their support of the defrauded?

[Andrew Griffith]

I will happily meet the hon. Member to understand more details of the case. It is important that the FCA provides protection for consumers. That is one of the objectives of the Financial Services and Markets Bill, which is currently going through Parliament.