Oral Answers to Questions

Peter Grant Excerpts

Wednesday 9th June 2021 Commons Chamber

[The Prime Minister]

I thank my right hon. Friend for her question. Of course, the families of the 96 who died in the Hillsborough disaster and those who were injured have shown tremendous courage and determination. My right hon. Friend raises a particular issue about the recent court case and asks for a review of the law. I can give her the reassurance that we will always consider opportunities to review the law and how it operates if necessary, and we will certainly be looking at the case she describes.

[Peter Grant (Glenrothes) (SNP) [V]]

In just over three years, the directors of Blackmore Bond plc took £46 million of other people’s money and made it disappear. Around 2,800 small investors, whose money the directors promised would be secure, now face losing everything. Most of the money—around £26 million—was taken by Blackmore Bond after the Financial Conduct Authority had received compelling evidence from an expert witness who told them that he thought the company was breaking the law, but before the FCA took any decisive action. How many more scandals like that will it take before we have a regulatory environment that is fit for purpose and that offers our constituents proper protection against investment scams?

[The Prime Minister]

I thank the hon. Gentleman for raising that case. I am afraid I had no advance notice of the question and cannot comment on the case, save to say that if he will send me details, we will get back to him as soon as we can.