Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what steps he is taking to ensure that potential remedies for people affected by the collapse of the Connaught Income Services 1 Fund are not ruled unattainable as a result of the time taken by the Financial Conduct Authority to conclude its investigation into that matter.

This is a matter for the Financial Conduct Authority (FCA).

The FCA is an independent non-governmental body responsible for regulating and supervising the financial services industry within the framework of statutory objectives and duties agreed by Parliament. Although the Treasury is responsible for the legal framework, it has strictly limited powers in relation to the FCA.

This question has been passed on to the FCA. They will reply directly to the Honourable Member by letter. A copy of the letter will be placed in the Library of the House.