MPs table motion over FCA and Connaught case

Formal call for Commons debate

Tom Ellis
clock • 2 min read

10 MPs have signed an early day motion to debate the Financial Conduct Authority (FCA) and its handling of the collapsed Connaught Income Series 1 fund.

Tabled by SNP MP for East Renfrewshire Kirsten Oswald, the early day motion - a formal call for debate in the House of Commons - supports and welcomes the findings of the Complaints Commissioner Antony Townsend in reply to two complaints from ex-CEO of Tuita and whistle-blower George Patellis and financial adviser Adam Nettleship. Oswald's early day motion said: "That this House regrets the refusal of the FCA to accept the Commissioner's recommendation that Mr Patellis receive a public apology for the lack of care over his treatment as a whistle-blower and the defensive and insensitive m...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Complaints against financial services firms fall below 1.8 million

Complaints against financial services firms fall below 1.8 million

All major product groups saw fewer complaints

Sahar Nazir
clock 30 April 2025 • 2 min read
FCA backs artificial intelligence with live testing service

FCA backs artificial intelligence with live testing service

Wants AI to keep the UK competitive

clock 29 April 2025 • 2 min read
FCA to cut red tape for investment firms in bid to streamline regulation

FCA to cut red tape for investment firms in bid to streamline regulation

Volume of legal text cut by 70%

Linus Uhlig
clock 24 April 2025 • 2 min read