Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, on how many occasions the Financial Conduct Authority and the Financial Services Authority used powers under Section 382 of the Financial Services and Markets Act 2000 to compel a registered firm to compensative investors for losses incurred as a result of that firm's breaches of its statutory obligations; and whether he is satisfied that the legislation is being implemented effectively.

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

This question has been passed on to the FCA. They will reply directly to the Honourable Member by letter. A copy of the letter will be placed in the Library of the House.