Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on the administration of London Capital and Finance PLC.

The Treasury is monitoring developments relating to the failure of London Capital & Finance (LCF) very closely and is in regular contact with the Financial Conduct Authority.

However, the Treasury has no formal role in the administration process of a firm such as LCF and it would be inappropriate for us to comment on the administration process, which is a matter for the joint administrators – in this case, Finbarr O’Connell, Adam Stephens, Colin Hardman and Henry Shinners of Smith & Williamson LLP.

Further information regarding the administration itself can be found on the joint administrators’ website at the following link:

https://smithandwilliamson.com/business/services/restructuring-and-recovery-services/london-capital