Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, with reference to the Oral Contribution of the Economic Secretary to the Treasury of 1 February 2016, Official Report, column 748, what further progress has been made on investigations into the Connaught Income Fund, series 1.

The issues raised are a matter for the Financial Conduct Authority (FCA) who are operationally independent from Government.

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