Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Kirsten Oswald on 2015-12-08.

To ask Mr Chancellor of the Exchequer, if he will encourage the Financial Conduct Authority to bring its investigation into the Connaught Fund to an early conclusion; and if he will make a statement.

Harriett Baldwin

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 setting the legal framework, oversight of business practicesis a matter for the FCA Board.

The Government appreciates the real difficulties and the serious implications the Connaught issue has had for investors and is following the situation closely.