Financial Services: Fraud

HM Treasury written question – answered on 23rd May 2016.

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Photo of Kirsten Oswald Kirsten Oswald Shadow SNP Spokesperson (Armed Forces and Veterans)

To ask Mr Chancellor of the Exchequer, on how many occasions the Financial Conduct Authority has reported fraudulent activity in the financial services sector to the police or prosecuting authorities in the last five years.

Photo of Kirsten Oswald Kirsten Oswald Shadow SNP Spokesperson (Armed Forces and Veterans)

To ask Mr Chancellor of the Exchequer, how many referrals the Financial Conduct Authority has made to (a) the Insolvency Service and (b) Companies House recommending that a person be disqualified from acting as a company director or investigated further with a view to such action being taken in the last five years.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

The issues raised are a matter for the Financial Conduct Authority (FCA) who are operationally independent from Government.

These questions have been passed on to the FCA. The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.

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