Parliamentary Search

Written question asked by Kevin Hollinrake (Conservative) on Friday, 2 January 2026, in the House of Commons. It was due for an answer on Tuesday, 6 January 2026. It was answered by Lucy Rigby (Labour) on Thursday, 8 January 2026 on behalf of the Treasury.

Financial Services: Politically Exposed Persons

Question

To ask the Chancellor of the Exchequer, how Politically Exposed Persons and their families can complain about unreasonable withdrawal of services by companies which are not financial services institutions and not regulated by the Financial Services Ombudsman.

Answer

A wide range of business activities, not limited to financial services, are regulated under the Money Laundering Regulations. Relevant businesses must identify and carry out enhanced due diligence on Politically Exposed Persons and their close relatives or business associates. Guidance for different sectors makes clear that these checks should be proportionate to the risks posed on a case-by-case basis.

Individual businesses will be subject to various regulatory and accountability arrangements depending on the nature of the services they provide. Consumers are normally encouraged to direct any complaints first to a business’s own complaints department before escalating if necessary to the relevant ombudsman or equivalent organisation which is empowered to consider complaints.

Secondary information

Type
Written question
Reference
101768
Session
2024-26
Subjects
Complaints Financial services Politically exposed persons
Link
View this Written question on www.parliament.uk