Insolvency of London Capital and Finance

I rise to present a petition that was brought to my attention at my constituency surgery by a constituent who was affected by the insolvency of London Capital and Finance.

The petition states:

The petition of residents of Linlithgow and East Falkirk,

Declares that investors affected by the insolvency of London Capital and Finance eight months ago have still to learn whether they will have access to the Financial Services Compensation Scheme; notes investors that include local residents of Linlithgow and East Falkirk have still to receive clarification about the Financial Conduct Authority’s role in regulation the activity of London Capital and Finance; and further notes no explanation has been given as to why London Capital and Finance was permitted to promote itself as regulated by the Financial Conduct Authority.

The petitioners therefore request that the House of Commons urge the Treasury to ensure that the independent investigation into the events around London Capital and Finance’s collapse is not in any way impeded and reaches a swift conclusion.

And the petitioners remain, etc.

[P002530]