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861107
star this property registered interest false more like this
star this property date less than 2018-03-13more like thismore than 2018-03-13
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury remove filter
unstar this property hansard heading Shareholders: Sanctions more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Mr Chancellor of the Exchequer, what steps she is taking to ensure that funds raised by foreign companies through initial public offerings in London do not finance companies under US and EU sanctions; and if she will make a statement. more like this
star this property tabling member constituency Hemel Hempstead more like this
star this property tabling member printed
Sir Mike Penning more like this
star this property uin 132256 remove filter
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2018-03-16more like thismore than 2018-03-16
star this property answer text <p>The Financial Conduct Authority (FCA) is the competent authority responsible for the UK initial public offering (IPO) process. Companies seeking to admit securities to the Official List must apply to the UK Listing Authority (UKLA), a division of the Financial Conduct Authority.</p><p> </p><p>The UKLA is responsible for assessing the eligibility of any potential issuer and approving the prospectus of any company that wishes to list its securities on the London Stock Exchange. The UKLA can request advice from the Office of Financial Sanctions (OFSI), which is part of HM Treasury, in relation to UN, UK or EU sanctions but responsibility for the admission of companies to the Official List lies with the UKLA.</p><p> </p><p>OFSI assesses all reported suspected breaches of UN, EU or UK financial sanctions to determine whether a breach has occurred and if so, the extent of any breach before taking action. OFSI refers the most serious cases to the National Crime Agency (&quot;NCA&quot;) for criminal investigation.</p><p> </p><p>The Office of Foreign Assets Control (OFAC) of the US Treasury Department enforces US economic and trade sanctions. OFSI regularly engages with OFAC on financial sanctions but OFSI has no role in ensuring compliance with or enforcement with US sanctions.</p><p> </p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2018-03-16T13:14:28.73Zmore like thismore than 2018-03-16T13:14:28.73Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
1528
star this property label Biography information for Sir Mike Penning more like this