Business of the House

Edward Argar Excerpts

Thursday 5th November 2015 Commons Chamber

[Chris Grayling]

I can assure the hon. Lady that this remains a matter of concern to Ministers. The responsible Minister will be in the House next Tuesday, and I encourage her to put this point directly at that time. I will make sure that Ministers are aware of her concerns and are properly equipped to give her the latest update.

[Edward Argar (Charnwood) (Con)]

I have been contacted by a constituent concerned that the abolition some years ago of the 15-year “long stop” rule for claims against independent financial advisers leaves open time-unlimited opportunities to pursue such claims. This situation applies to no other profession. Will the Leader of the House find time for us to debate this important issue of fairness and the Financial Conduct Authority’s approach to it?

[Chris Grayling]

My hon. Friend raises an important point. Complaints should be brought in a timely fashion, although it is difficult to strike the right balance. It is important that complaints be made in a timely fashion and that people are not left hanging on forever at risk of a case being brought against them, but occasionally the full facts only emerge after some time, so we cannot have too tight a deadline either. I will make sure that his concerns are drawn to the attention of my colleagues in the Treasury, and I will ask them to respond to him.