Arch Cru Compensation Scheme
Debate between Jim Cunningham and Tom Greatrex(12 years, 6 months ago)
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Tom Greatrex
I agree wholeheartedly with the hon. Gentleman and I will go on to develop the point about marketing to independent financial advisers.
Mr Jim Cunningham (Coventry South) (Lab)
A number of my constituents have written to me voicing their concern about this issue. Does my hon. Friend think that there should be an urgent inquiry into the matter? On the basis of what he has just said, the situation is more serious than a lot of people realised.
Tom Greatrex
I agree with my hon. Friend and I will make some of those points later in my remarks. We are only at the beginning of uncovering what went on, and the situation is worrying for many other funds. There are also questions for regulators that I will go on to address.