Lendy: Complaints

Treasury written question – answered on 21st January 2021.

Alert me about debates like this

Photo of Seema Malhotra Seema Malhotra Shadow Minister (Work and Pensions) (Employment)

To ask the Chancellor of the Exchequer, how many complaints the Financial Conduct Authority received on financial promotions issued by the firms with company numbers 743416 and 622666, currently known as Lendy Ltd, in each year since 2014.

Photo of Seema Malhotra Seema Malhotra Shadow Minister (Work and Pensions) (Employment)

To ask the Chancellor of the Exchequer, how many times the Financial Conduct Authority intervened with firms with company numbers 743416 and 622666, currently known as Lendy Ltd, to ask them to modify or withdraw a financial promotion in each year since 2014.

Photo of Seema Malhotra Seema Malhotra Shadow Minister (Work and Pensions) (Employment)

To ask the Chancellor of the Exchequer, what assessment the Financial Conduct Authority has undertaken on promotions issued by firms with company numbers 743416 and 622666, currently known as Lendy Ltd.

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

As you may be aware, there is an ongoing Financial Conduct Authority (FCA) enforcement investigation into the collapse of the firms known as Lendy Ltd. It is important to stress that the independence of the FCA’s investigation, and its wider supervision of firms, is vital to its role. The FCA’s credibility, authority and value to consumers would be undermined if it were possible for the Government to intervene in such operational matters.

As such, it is not appropriate for the Government to publicly discuss the FCA’s discharging of their supervisory duties in respect of Lendy’s financial promotions. However, I have passed your requests onto the FCA for them to respond to directly. A copy of the letter will be placed in the Library of the House.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.