HC Deb 15 December 1993 vol 234 c644W
Mr. Luff

To ask the Chancellor of the Exchequer what representations he has received on behalf of investors in C. J. How; and if he will make a statement on their prospects for compensation.

Mr. Nelson

A number of representations have been received on behalf of investors. C. J. How was never authorised to conduct investment business under the Financial Services Act and investors are not therefore eligible for compensation under the investors compensation scheme. I understand that in certain cases where holdings in unit trusts beneficially owned by investors were improperly redeemed by C. J. How, the unit trust firms have made ex gratia payments to individual clients of C. J. How.