Asked by: Angela Watkinson (Conservative - Hornchurch and Upminster)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what information he holds on the reasons why the Financial Conduct Authority has not sought a restitution order against (a) Capita, (b) Blue Gate and (c) the directors of Tinta plc in relation to the Connaught Income Fund.
Answered by Harriett Baldwin
The issues raised are a matter for the Financial Conduct Authority (FCA) who are operationally independent from Government.
The questions have been passed on to the FCA. The FCA will reply directly to the Honorable Member by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Angela Watkinson (Conservative - Hornchurch and Upminster)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what information he holds on the reasons why the Financial Conduct Authority has not made use of the powers granted to it under sections 382 and 384 of the Financial Services and Markets Act 2000 to require restitution from parties who by breaking regulatory requirements cause less to others.
Answered by Harriett Baldwin
The issues raised are a matter for the Financial Conduct Authority (FCA) who are operationally independent from Government.
The questions have been passed on to the FCA. The FCA will reply directly to the Honorable Member by letter. A copy of the letter will be placed in the Library of the House.