Treasury written question – answered at on 9 June 2026.
Maya Ellis
Labour, Ribble Valley
To ask the Chancellor of the exchequer, what assessment she has made of whether the FCA’s supervisory actions prior to the collapse of Hartley Pensions were sufficient to protect SIPP holders.
Rachel Blake
The Economic Secretary to the Treasury
Hartley Pensions is authorised and regulated by the Financial Conduct Authority (FCA), which is responsible for supervising firms and protecting consumers. The FCA imposed requirements on the firm prior to its failure, as soon as it became aware of operational, financial and regulatory issues. In July 2022 the FCA requested that the firm enter administration in the interests of clients. FCA supervisory action in relation to this case is ongoing.
HMT works closely with the FCA to monitor the sector and address emerging risks.
Yes0 people think so
No1 person thinks not
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
