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Speech in Commons Chamber - Wed 22 Sep 2021
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill

"The hon. Member may be right. I simply put out the idea at this stage, and I hope Ministers will be sympathetic to it, that we should not just accept the sense that, following Dame Elizabeth Gloster’s report, the payment of compensation and the introduction by the FCA of this …..."
Gareth Thomas - View Speech

View all Gareth Thomas (LAB - Harrow West) contributions to the debate on: Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill
Written Question
Liverpool Victoria
Monday 28th June 2021

Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, whether her Department holds information relating to the views of the With-Profits Committee of Liverpool Victoria on the proposed demutualisation and sale to Bain Capital; and if he will make a statement.

Answered by Guy Opperman

The Department has received one email about the impact of the proposed demutualisation and sale of LV= (Liverpool and Victoria) on the company’s occupational pension scheme. No further information on the proposed transaction is held by the Department.

Written Question
Liverpool Victoria
Monday 28th June 2021

Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, how many letters she has received on the proposed demutualisation of Liverpool Victoria; and if he will make a statement.

Answered by Guy Opperman

The Department has received one email about the impact of the proposed demutualisation and sale of LV= (Liverpool and Victoria) on the company’s occupational pension scheme. No further information on the proposed transaction is held by the Department.

Speech in Public Bill Committees - Tue 15 Jun 2021
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)

"Q Thank you, Ms Ghani. I would like to take you back to the FCA’s handling of the consumers who phoned up the FCA about London Capital & Finance. Can you tell me whether there was ever a meeting between FCA officials and some of those customer investors—unsophisticated or …..."
Gareth Thomas - View Speech

View all Gareth Thomas (LAB - Harrow West) contributions to the debate on: Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)
Speech in Public Bill Committees - Tue 15 Jun 2021
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)

"First, during the time that LCF was in operation.

Sheree Howard: I am not aware of any, but I would need to go and check that...."
Gareth Thomas - View Speech

View all Gareth Thomas (LAB - Harrow West) contributions to the debate on: Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)
Speech in Public Bill Committees - Tue 15 Jun 2021
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)

"Q Has there been any meeting with them subsequently, perhaps to help with the lessons learned process within the FCA?

Sheree Howard: I think there has been, but I would need to go and check the details on that and get back to the Committee separately, if that is …..."
Gareth Thomas - View Speech

View all Gareth Thomas (LAB - Harrow West) contributions to the debate on: Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)
Speech in Public Bill Committees - Tue 15 Jun 2021
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)

"Q Moving forward, do you think that if a substantial number of consumers got in touch to raise concerns about the way a particular financial services business was operating, it would be sensible for the FCA to meet those consumers or just deal with them over the telephone or …..."
Gareth Thomas - View Speech

View all Gareth Thomas (LAB - Harrow West) contributions to the debate on: Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)
Speech in Public Bill Committees - Tue 15 Jun 2021
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)

"Q With due respect, you have not really answered my question, so let me ask you specifically: if a series of consumers phoned up separately to raise concerns about the way a major financial services business was operating, would you seek to meet them to try to guide your …..."
Gareth Thomas - View Speech

View all Gareth Thomas (LAB - Harrow West) contributions to the debate on: Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)
Speech in Public Bill Committees - Tue 15 Jun 2021
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)

"Q So you would gather the intelligence and the data, but if they asked for a meeting with you, would you turn that request down or accept it?

Sheree Howard: I am sure we would consider it. From my perspective, of course we want to listen to them, and …..."
Gareth Thomas - View Speech

View all Gareth Thomas (LAB - Harrow West) contributions to the debate on: Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)
Speech in Public Bill Committees - Tue 15 Jun 2021
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)

"Q But you would meet the representatives of the business if they asked for a meeting.

Sheree Howard: For the businesses that we regulate, authorise and supervise, yes, we would. As I said, we would take it into consideration and—potentially do what we do with whistleblowers, for example,..."
Gareth Thomas - View Speech

View all Gareth Thomas (LAB - Harrow West) contributions to the debate on: Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill (First sitting)