Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will hold discussions with the Financial Conduct Authority and the Bank of England on the monitoring of the voting process in the proposed demutualisation of Liverpool Victoria to ensure that that voting process is effective and transparent; and if he will make a statement.

The assessment and approval of the proposed sale and demutualisation of Liverpool Victoria is an ongoing and independent process, overseen and scrutinised by the financial services regulators, and subject to approval by the Courts. It is not appropriate for the Government to intervene in an ongoing and independent process.

It is not the Government’s role to publish the names of future board members. It is a matter for the firm to decide on whether it publicly announces the new board members prior to regulatory approval. In due course, if and when these individuals are approved under the Senior Managers and Certification Regime, it will be searchable on The Financial Services register via the FCA’s website.