The All Party Parliamentary Group (APPG) on Investment Fraud and Fairer Financial Services has reconvened following the general election.
Bob Blackman, Conservative MP for Harrow East, has been re-elected as co-chair of the group. He will chair the APPG alongside Labour’s Sam Rushworth, MP for Bishop Auckland.
The group has also reaffirmed its purpose statement, which is to “advocate for the victims of financial misconduct, crimes, scandals, frauds and regulatory failures, by driving positive, progressive, and purposeful reforms that achieve a fair, trusted and just system, where the service providers, regulators and government agencies provide appropriate protection and deliver good outcomes, including redress for historical wrongs”.
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Meanwhile, newly-elected Conservative MP for South Northamptonshire Sarah Bool has been elected as vice chair, alongside Lord Davies of Brixton.
“I’m pleased that we have a truly diverse APPG with the full political and social spectrum represented by its officers,” Lord Davies said.
“Most of us would disagree about most things most of the time; but when it comes to the desire to improve the workings of our financial system and its regulatory framework, we are united. We want to achieve good financial outcomes for individuals and society as a whole.
“We also agree on the need to stimulate growth in the economy, and to restore trust and confidence in the workings of our financial sector. There’s a great deal to be done.”
Vice chair Bool added: “Financial services misconduct can impact anybody, wherever they are on the socio-economic spectrum.
“Parliament has a duty to do all it can to protect the interests of everybody in society and if there is more we can do to improve the situation by passing new laws and/or ensuring that existing ones are being fairly and properly enforced by the regulators and other authorities, we must. The human suffering caused by such wrongdoing is universal – nobody is insulated from it.”
The APPG on Investment Fraud and Fairer Financial Services is a platform for dialogue with a view to helping to solve shortcomings in the financial services space.
This story was written by our sister title, Portfolio Adviser
