Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill
Debate between Kevin Hollinrake and Guy OppermanTuesday 8th June 2021
(3 years, 6 months ago)
Commons ChamberRead Full debate Compensation (London Capital & Finance plc and Fraud Compensation Fund) Act 2021 View all Compensation (London Capital & Finance plc and Fraud Compensation Fund) Act 2021 Debates Read Hansard Text Read Debate Ministerial Extracts
Guy Opperman
Yes, I believe that is the case. The Treasury and the FCA are working together. The FCA is under new management, as the hon. Gentleman will be aware, and there is an acceptance by the FCA of all the findings in Dame Elizabeth Gloster’s report. More particularly there is fresh thinking, one hopes, that will be applied going forward.
Kevin Hollinrake
Powers are one thing, willingness is another. The FCA has shown a remarkable reluctance to hold people to account for incompetence or bad actors, as the Minister said. Will not those failings simply continue unless the FCA starts identifying individuals, within its own ranks or within the banks, for those failings, and holds them to account?
Oral Answers to Questions
Debate between Kevin Hollinrake and Guy Opperman(5 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Guy Opperman
If the individual case is sent to the Minister with responsibility for UC, they will take that up and respond accordingly.
Kevin Hollinrake (Thirsk and Malton) (Con)
If people are paid on a four-week cycle, once a year they get paid twice in the same month, which disrupts the UC payment for two months. Will the Minister meet me to see what we can do to prevent these cash flow issues?
Guy Opperman
I take the point that my hon. Friend makes, in his usual astute way, and I know that the Minister concerned will be happy to have a meeting with him.