Building Societies: Shares

Treasury written question – answered on 15th October 2020.

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Photo of Gareth Thomas Gareth Thomas Shadow Minister (International Trade)

To ask the Chancellor of the Exchequer, what assessment he has made of the level of risk involved for purchasers in the sale of redeemable shares by building societies; and if he will make a statement.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

HM Treasury has not made any specific assessment of the level of risk involved for purchasers in the sale of redeemable shares by building societies. When making an investment decision, consumers should make sure they are aware of the risks and seek advice where appropriate.

The Government wants to make sure we have a strong and safe financial system which is why HM Treasury continues to work with the Financial Conduct Authority to protect consumers, including by ensuring that they have the necessary information to weigh up the risks and rewards of any decision they make.

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