Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if he will establish a cross-departmental working group to implement consistent reporting standards across all asset classes and product structures.

The Government and the Financial Conduct Authority (FCA) are committed to ensuring that savers and investors are treated fairly when they make investment decisions and are able to get the best outcomes from their investments.

The Government welcomes the FCA’s final report on their competition market study on the asset management sector.

We will be studying the final findings and remedies closely to see what the Government can do to support the regulator’s work and deliver the right outcomes for people who rely on their pension savings.