Phil Boswell – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Phil Boswell on 2016-10-13.

To ask Mr Chancellor of the Exchequer, what assessment he has made of the level of financial protection available to investors in mini-bonds not covered under the financial services compensation scheme.

Simon Kirby

The government is committed to regulating only where there is a clear case for doing so, in order to avoid putting additional costs on lenders that would ultimately lead to higher costs for businesses and consumers.

The marketing and promotion of mini-bonds is subject to financial promotion restrictions set out in the Financial Services and Markets Act (FSMA). Firms that fail to meet any of these requirements may be subject to enforcement action by the Financial Conduct Authority (FCA).