Crown Currency Exchange

Debate between Tessa Munt and Peter Aldous

Tuesday 7th December 2010 Commons Chamber

[Tessa Munt]

It is certainly clear that a number of people alerted various sections of the authorities. A year ago, the Financial Times and the financial pages of The Daily Telegraph and The Mail on Sunday were raising concerns, and they were right to do so.

[Peter Aldous (Waveney) (Con)]

I congratulate the hon. Lady on securing this debate. I have had a response from the FSA. It says:

“In our judgement it would not be possible for the FSA to ban firms such as CCE from describing themselves as “registered for payment services”. Any amendment to the register requirements in the Payment Services Regulations would be a matter for HM Treasury.”

Will she ask the Minister whether he will consider that?

[Tessa Munt]

I will do precisely that.