1-8 of 8 results for subject:"Keydata Investment Services"
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To ask Mr Chancellor of the Exchequer, if he will take steps to ensure that Financial Conduct Authority disciplinary proceedings relating to Stewart Ford, formerly of Keydata Investment Services, are concluded as quickly as possible.
To ask Mr Chancellor of the Exchequer, if he will take steps to ensure that Financial Conduct Authority disciplinary proceedings relating to Stewart Ford, formerly of Keydata Investment Services, are concluded as quickly as possible.
The Government appreciates the real difficulties and the serious implications the Keydata issue has had for investors and is following the situation closely.
The Financial Conduct Authority (FCA) is an independent non-governmental body responsible for regulating and supervising the financial services industry within the framework of statutory objectives and duties agreed by Parliament. Although the Treasury is responsible for the legal framework, it has strictly limited powers in relation to the FCA. In particular the Treasury has no general power of direction over the FCA and cannot direct its enforcement activities.
To ask the Chancellor of the Exchequer what progress the Financial Services Compensation Scheme has made on compensating consumers who were mis-sold Keydata products; and if he will make a statement.
To ask the Chancellor of the Exchequer what progress the Financial Services Compensation Scheme has made on compensating consumers who were mis-sold Keydata products; and if he will make a statement.
Keydata Investment Services was declared in default in June 2009. Since that time the FSCS has processed over 38,000 claims, paying compensation of around £329 million. 70 claims remain under investigation; primarily the outstanding claims are those which have been received in recent months.
To ask the Chancellor of the Exchequer what progress the Financial Conduct Authority has made on investigating claims that independent financial advisers mis-sold Keydata products; and if he will make a statement.
To ask the Chancellor of the Exchequer what progress the Financial Conduct Authority has made on investigating claims that independent financial advisers mis-sold Keydata products; and if he will make a statement.
The Financial Services Compensation Scheme's (FSCS) court proceedings against a large number of IFA firms in connection with the sale of Keydata Investment Services products are still continuing. To date, FSCS has settled claims with a number of defendants for a variety of reasons, the terms of which are confidential.
Since the Case Management Conference in the Lifemark and SLS proceedings in March, FSCS has selected six Lead Case Defendants (LCD) to advance defences in relation to a number of lead cases, which will give a representative set of investor claims to be heard by the court. Based on the current timetable, LCDs' defences are expected shortly. A further Case Management Conference is scheduled for February 2014.
To ask the Attorney-General how much the Serious Fraud Office has spent to date on its investigation into missing assets at Keydata Investment Services.
[138850]
To ask the Attorney-General how much the Serious Fraud Office has spent to date on its investigation into missing assets at Keydata Investment Services.
[138850]
The Serious Fraud Office (SFO) began investigating Keydata Investment Services Ltd (Keydata) following a referral by the Financial Services Authority (FSA) in 2009. The total external spend on this investigation is £18,150.
SFO staff working on the investigation were also engaged in other work, so it is not possible to estimate the cost of permanent staff time relating to the investigation.
To ask Her Majesty’s Government whether they will order an inquiry into the collapse of Keydata Investment Services and the contribution, if any, of regulatory failures.
To ask Her Majesty’s Government whether they will order an inquiry into the collapse of Keydata Investment Services and the contribution, if any, of regulatory failures.
To ask the Chancellor of the Exchequer what recent discussions he has had with the Financial Services Authority on its regulation of Keydata; and if he will make a statement.
To ask the Chancellor of the Exchequer what recent discussions he has had with the Financial Services Authority on its regulation of Keydata; and if he will make a statement.
SI 2010/835. With an explanatory memorandum from the Treasury. Coming into force 9 April 2010.
SI 2010/835. With an explanatory memorandum from the Treasury. Coming into force 9 April 2010.
To ask the Chancellor of the Exchequer what estimate he has made of the number of UK residents affected by the entry into administration of Key Data Investment Services (KIS); and what assessment he has made of the financial consequences of the Financial Services Authority's decision to require KIS to...
To ask the Chancellor of the Exchequer what estimate he has made of the number of UK residents affected by the entry into administration of Key Data Investment Services (KIS); and what assessment he has made of the financial consequences of the Financial Services Authority's decision to require KIS to...