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172354

registered interest
date	06/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Regulation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what plans they have to reconsider the attitudes, capabilities and experience required for senior posts in regulation in the light of the outcome of the Davis Review of the Financial Conduct Authority.
tabling member printed	Lord Stewartby
uin	HL3937
answer	answer is ministerial correction date of answer 15/01/2015 answer text <p>The Davis Review contained no recommendations for the government. The response to the Davis review conclusions is a matter for the Financial Conduct Authority.</p><p> </p><p> </p><p> </p><p>This question has therefore been passed on to the FCA and the FCA will reply directly to the Noble Lord by letter. A copy of the letter will be placed in the Library of the House.</p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 15/01/2015 17:45:02 answering member 4262 label Biography information for Lord Deighton
tabling member	986 label Biography information for Lord Stewartby

172355

registered interest
date	06/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what steps they are taking to protect consumers from continuous payment authority abuses.
tabling member printed	Lord Kennedy of Southwark
uin	HL3938
answer	answer is ministerial correction date of answer 15/01/2015 answer text <p>There are two sets of regulations that protect consumers from abuses of continuous payment authorities (CPAs) – the Payment Services Regulations 2009, and the Consumer Protection from Unfair Trading Regulations 2008.</p><p> </p><p> </p><p> </p><p>In June 2013, the Financial Conduct Authority issued a warning to banks, reminding them of their obligation to cancel CPAs immediately at the customer’s request. Banks are also required to refund consumers if companies continue to take money without the account-holder’s permission.</p><p> </p><p> </p><p> </p><p>In addition, the FCA has introduced tough new rules limiting payday lenders’ use of CPAs to two unsuccessful attempts. These rules also prevent payday lenders from using CPAs to take partial payment – a lender can only take payment if the entire amount owed by the customer is available in their account.</p><p> </p> answering member printed Lord Deighton question first answered 15/01/2015 17:43:00 answering member 4262 label Biography information for Lord Deighton
tabling member	4153 label Biography information for Lord Kennedy of Southwark