Peter Aldous speaks in an Adjournment Debate calling for a swift conclusion to the Financial Conduct Authority (FCA) investigation into the former operators of the Connaught Series 1 Income Fund which went into liquidation in 2012 losing investors up to £110 million.
Peter Aldous (Waveney) (Con): I understand this situation very well. My constituent, Charles Rodbourne, has lost the bulk of his life savings. This scandal has been going on for seven years now. Will my hon. Friend urge the Minister to do all she can to bring it to a conclusion as swiftly as possible, as so many people across this country are affected?
Guto Bebb: I join my hon. Friend in urging the Minister to do just that. In relation to my five questions, I think that the FCA has hidden behind its claims that, because this is a live investigation, it is not in a position to comment. Will the Minister confirm that there is in fact no statutory reason why the FCA cannot provide a progress report for those who are interested in this issue?