Question to the HM Treasury:

To ask Her Majesty's Government whether the interim permission granted to Regal Pawnbroker Limited, subsequently renamed Collateral (UK) in the Financial Conduct Authority’s register, would have lapsed automatically on 31 March 2016 if an application had not been passed for Part 4A Permission under the Financial Services and Markets Act 2000.

The FCA is responsible for the regulation of the financial services sector and is operationally independent from Government. These questions relate to the FCA and have been passed on to them. The FCA will reply directly to Lord Myners by letter, and a copy of the letter will be placed in the Library of the House.