Treasury Committee starts Greensill Capital inquiry

The Treasury Committee has launched an inquiry into lessons that can be learnt from the failure of Greensill Capital.  The inquiry is supported by letters to various regulators, including a letter to FCA asking for detail son the two Greensill entities that appeared on its register. It asks what the entities did and how FCA supervised them, including seeking information on the indirect supervision of one of the entities, which was an appointed representative. It also asks to what extent FCA had responsibility for combating economic crime in relation to the entities and what analysis it may have carried out on them other than for the purposes of direct supervision.  It also wants to know more generally what work FCA has done to assess the prudential and conduct risk of non-regulated non-bank lending by authorised firm, and how it has assessed the perimeter around the firms’ activities.

Emma Radmore