Financial Services

Treasury written question – answered on 24th June 2019.

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Photo of Lord Myners Lord Myners Non-affiliated

To ask Her Majesty's Government what discussions they have had with the Financial Conduct Authority about establishing an independent review into the (1) role of corporate directors of open-ended investment funds, (2) limitations placed on unlisted and illiquid investments in such funds, and (3) systemic risks arising from daily dealing in the units of investment funds.

Photo of Lord Young of Cookham Lord Young of Cookham Lord in Waiting (HM Household) (Whip), Lords Spokesperson (Cabinet Office)

This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.

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