Asked by: Bill Grant (Conservative - Ayr, Carrick and Cumnock)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what support is available for people who sustained losses as a result of misleading selling of Integrity Cash Maximiser products.
Answered by John Glen - Shadow Paymaster General
The independent financial services regulator - the Financial Conduct Authority (FCA) – is responsible for the regulations in place to protect customers in their dealings with financial services firms. It requires firms to treat their customers fairly and has broad and robust powers to enforce breaches of its rules.
If consumers have a complaint about a regulated financial service, they may be able to take their complaint to the Financial Ombudsman Service (FOS). The FOS was established to provide for the proportionate, prompt and informal resolution of cases and is designed to be an alternative to resolution of cases through the courts.
Asked by: Bill Grant (Conservative - Ayr, Carrick and Cumnock)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will bring forward legislative proposals to compensate people who have sustained losses due to the mis-selling of Integrity Cash Maximiser products.
Answered by John Glen - Shadow Paymaster General
The independent financial services regulator - the Financial Conduct Authority (FCA) – is responsible for the regulations in place to protect customers in their dealings with financial services firms. It requires firms to treat their customers fairly and has broad and robust powers to enforce breaches of its rules.
If consumers have a complaint about a regulated financial service, they may be able to take their complaint to the Financial Ombudsman Service (FOS). The FOS was established to provide for the proportionate, prompt and informal resolution of cases and is designed to be an alternative to resolution of cases through the courts.
Asked by: Bill Grant (Conservative - Ayr, Carrick and Cumnock)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made on the potential effect on (a) businesses and (b) levels of employment of increasing the duty paid on the dilution of wine and made-wine.
Answered by Robert Jenrick - Shadow Secretary of State for Justice
At Autumn Budget 2017, the government announced a review of the practice of diluting wine and made-wine after the excise duty has been accounted for. HMRC has invited views from representative bodies and affected businesses. Responses are currently being analysed and assessments of impact will be considered as part of the review process.