Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the adequacy of steps taken to hold to account companies and directors responsible for promoting and managing the affairs of Connaught Asset Management.

This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government.

These questions have been passed on to the FCA. They will reply directly to the Honorable Member Kirsten Oswald by letter. A copy of the letter will be placed in the Library of the House.