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, when he became aware that Connaught Fund investors pursuing compensation awarded by the Financial Ombudsman Service are having their professional indemnity claims rejected because the Financial Conduct Authority handbook IPRU-INV sch13 allows independent financial advisers to operate with insurer-imposed restrictions on their insurance that exclude schemes the adviser had already recommended to clients.

Harriett Baldwin

This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government.

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.