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Financial Services: Misrepresentation

Question for Treasury

UIN 170388, tabled on 4 September 2018

To ask the Chancellor of the Exchequer, if he will bring forward legislative proposals to compensate people who have sustained losses due to the mis-selling of Integrity Cash Maximiser products.

Answered on

12 September 2018

The independent financial services regulator - the Financial Conduct Authority (FCA) – is responsible for the regulations in place to protect customers in their dealings with financial services firms. It requires firms to treat their customers fairly and has broad and robust powers to enforce breaches of its rules.

If consumers have a complaint about a regulated financial service, they may be able to take their complaint to the Financial Ombudsman Service (FOS). The FOS was established to provide for the proportionate, prompt and informal resolution of cases and is designed to be an alternative to resolution of cases through the courts.

Answered by

Treasury