To ask Her Majesty's Government on what dates capital adequacy and stress tests were carried out on Greensill Capital; and what the outcome was of those checks.
31 March 2021
Greensill Capital (UK) Limited was not authorised by the FCA. It was a registered entity under the Money Laundering Regulations, which means that the FCA supervised it but only for compliance with Anti-Money Laundering rules, not for wider conduct issues. Greensill Capital Securities Ltd was an Appointed Representative of an FCA-regulated firm, under whose supervision it could conduct some regulated activities. However, it was not itself supervised or authorised by the FCA. Greensill Capital Securities Ltd is no longer an Appointed Representative.
At no time has the Bank of England authorised or supervised Greensill Capital (UK) Limited or any member of their group.
Given Greensill Capital was not authorised by the Bank of England or the FCA no capital adequacy or stress tests were required or carried out.