Seventy Ninth Group: Insolvency
Commons · Question 68719 · Tabled 17 Jul 2025 · Treasury · Official record
Answered 23 Jul 2025
Question
Asked by Sir John Whittingdale
To ask the Chancellor of the Exchequer, what recent assessment she has made of the adequacy of Financial Conduct Authority support for victims of financial fraud in the context of the insolvency of 79th Group.
Answer
Answered by Emma Reynolds, 23 Jul 2025
As an important point of principle, the Government does not step in to pay compensation in respect of failed financial services firms that fall outside of the Financial Services Compensation Scheme (FSCS). Doing so would create the wrong set of incentives...