Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority on its investigation into the circumstances that led to the collapse of firms with company numbers 743416 and 622666, currently known as Lendy Ltd.

The FCA is an independent non-governmental body responsible for regulating and supervising the financial services industry. Although the Treasury sets the legal framework for the regulation of financial services, it has strictly limited powers in relation to the FCA. The Treasury has no general power of direction over the FCA and cannot intervene in individual cases. This matter is the responsibility of the FCA.

There are currently no plans to undertake a review of the conduct of the Financial Conduct Authority in relation to the collapse of the firms known as Lendy Ltd.