Investment: Complaints

HM Treasury written question – answered at on 9 March 2017.

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Photo of Alex Cunningham Alex Cunningham Shadow Minister (Work and Pensions) (Pensions)

To ask Mr Chancellor of the Exchequer, how many people who are certified as high net worth investors have made a complaint to the Financial Ombudsman Service about being advised to invest in a non-mainstream pooled investment in the last three years.

Photo of Alex Cunningham Alex Cunningham Shadow Minister (Work and Pensions) (Pensions)

To ask Mr Chancellor of the Exchequer, how many people who have been certified by a financial adviser as sophisticated investors have made a complaint to the Financial Ombudsman Service about being advised to invest in an inappropriate non-mainstream pooled investment in the last three years.

Photo of Simon Kirby Simon Kirby The Economic Secretary to the Treasury

This is an operational matter for the Financial Ombudsman Service (FOS), who are operationally independent from Government. The questions have been passed to the FOS. The FOS will reply directly to Alex Cunningham MP by letter. A copy of the letter will be placed in the Library of the House.

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