Financial Services

(asked on 20th March 2015) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority on the Connaught Income Fund Series 1 settlement negotiations.


Answered by
Andrea Leadsom Portrait
Andrea Leadsom
Parliamentary Under-Secretary (Department of Health and Social Care)
This question was answered on 26th March 2015

I was very sorry to hear about the difficulties faced by investors in the Connaught Income Fund Series 1 and hope that the Financial Conduct Authority (FCA) are able to finalise their investigation promptly.

On 10 March, the FCA provided an update on proceedings which can be found here:


https://www.fca.org.uk/news/fca-statement-on-connaught

The FCA is operationally independent from Government and carries out its functions within the framework of statutory objectives and duties agreed by Parliament. In view of the FCA’s independence it would not be appropriate for the Treasury to comment further on this ongoing investigation.

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