"I appreciate the points my hon. Friend is making—they are entirely reasonable—but I think that the difference between the FSA and FCA is being over-emphasised. The people who were FSA officers when the all-party group on interest rate swap mis-selling was established were the same people as the FCA officers …..." Guto Bebb - View Speech
"On behalf of myself, the hon. Member for Bassetlaw (John Mann) and the hon. Member for East Renfrewshire (Kirsten Oswald), I have to say that I think we were rumbled by my hon. Friend the Member for North East Somerset (Mr Rees-Mogg). The purpose of having this debate on the …..." Guto Bebb - View Speech
"Before we get into the detail of the questions I want to ask the Minister, I think it is important for me to provide some context and background on the issue.
The Connaught Income Fund Series 1 was established in April 2008. The aim of the fund was to invest …..." Guto Bebb - View Speech
"The hon. Gentleman makes an important point that I will come on to. Indeed, the need for information as to why that decision was taken is something I will be asking the Minister to comment on...." Guto Bebb - View Speech
"My hon. Friend has summarised my speech in a pithy intervention.
It is important to highlight that when the transfer of operator happened, the subsequent information memorandum issued by Blue Gate was virtually identical to the original information memorandum issued by Capita, and for a further 10 months, more or …..." Guto Bebb - View Speech
"I will join the hon. Lady in that call, and I agree entirely with her comments.
On 26 May 2011, three months after the whistleblower provided evidence of wrongdoing, the FSA finally published a note on its website stating that the fund should not be compared to a bank or …..." Guto Bebb - View Speech
"Absolutely. My hon. Friend has just covered part of my speech very well, and I agree entirely with her comments.
Despite the warnings, and the acknowledgment of those warnings by a note that was issued on the FSA’s website, money was still being invested in the fund for a further …..." Guto Bebb - View Speech
"I am grateful to my right hon. Friend for that intervention. I will come on to the way in which independent financial advisers have been badly treated under the regulatory framework in this regard...." Guto Bebb - View Speech
"I regret that I have to agree with my hon. Friend. The financial ombudsman service is too often seen as an option by the FCA when problems are brought to its attention. Unfortunately, I also have some comments to make on the performance of the ombudsman in relation to this …..." Guto Bebb - View Speech
"The hon. Lady speaks for all of us in this regard, and the constituents who are the worst affected are often old and vulnerable and have invested their life savings in the scheme. I share her concerns.
In March 2012, the fund was finally suspended. It is important to point …..." Guto Bebb - View Speech