Asked by: Ashley Dalton (Labour - West Lancashire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential risk to the UK financial services industry of the Financial Conduct Authority investigation into the LF Woodford Equity Income Fund.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The FCA has been investigating the events leading to the suspension of the Woodford Equity Income Fund, as the independent regulator responsible for the supervision and regulation of conduct in financial services. While the Treasury continues to follow this case closely, it is the responsibility of the FCA to investigate and decide upon the appropriate course of action.