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1135702

	registered interest
	date	01/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Freezing of Assets: Libya
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how much revenue has been raised from frozen Libyan assets in London in each of the last five years for which figures are available.
	tabling member printed	Lord Empey
	uin	HL16795
	answer	answer is ministerial correction date of answer 15/07/2019 answer text The Government’s response of 24 June to the Northern Ireland Affairs Committee report (into Government support for UK victims of IRA attacks that used Qadhafi-supplied Semtex and weapons) set out the information the Government had obtained about tax receipts on frozen Libyan assets held in UK banks. The response states: “Around £17 million has been received in total since the start of the 2016-17 tax year. HMRC currently receives around £5 million each year.” answering member printed Lord Young of Cookham question first answered 15/07/2019 14:36:41 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	4216 label Biography information for Lord Empey

1132189

	registered interest
	date	13/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Workplace Pensions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what steps they are taking to ensure that independent governance committees (IGCs) monitor and provide effective oversight of the suitability of all the retail fund choices available to pension scheme members through the firm which an IGC oversees.
	tabling member printed	Baroness Drake
	uin	HL16350
	answer	answer is ministerial correction date of answer 26/06/2019 answer text The Financial Conduct Authority (FCA) introduced rules in 2015 to require contract-based pension providers to set up independent governance committees (IGCs) to address poor consumer outcomes. IGCs have a duty to scrutinise the value for money of the provider’s workplace personal pension schemes, taking into account transaction costs, raising concerns and making recommendations to the provider’s board as appropriate. IGCs have a duty to assess whether all the investment choices available, including default options, are suitable for the interests of consumers.<p><strong> </strong></p>In 2016, the FCA reviewed IGCs and found that they were “generally effective” in influencing and advancing cost reductions for members. The FCA has announced that it will undertake a further review of IGCs in 2019/20. answering member printed Lord Young of Cookham question first answered 26/06/2019 16:50:19 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	4155 label Biography information for Baroness Drake

1133482

	registered interest
	date	19/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Equality
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what steps they have taken to ensure that the UK financial sector (1) increases its diversity, and (2) ensures equal pay.
	tabling member printed	Lord Taylor of Warwick
	uin	HL16517
	answer	answer is ministerial correction date of answer 02/07/2019 answer text It is the Government’s aspiration to see diversity across the UK economy, and HM Treasury’s Women in Finance Charter reflects our ambition to see an improved gender balance in the financial services industry. So far, over 330 financial services firms have signed the Charter, committing to implement strategic actions to improve their gender balance in senior positions.<p> </p>Regarding wider work to improve diversity in the UK labour market, we are supporting the government commissioned Hampton-Alexander review to push for 33% of all board and senior leadership positions to be held by women by 2020 in the FTSE 350. Government also fully supports the Parker Review, which recommends that FTSE100 and 250 boards should have at least one director of colour by 2021 and 2024, respectively. The Prime Minister also launched the Race at Work Charter and a consultation on mandatory ethnicity pay reporting as part of a package of measures to make the workplace fairer for people from ethnic minority groups. Over 150 employers have signed the Race at Work Charter, including a number of financial services firms.<p> </p>Equal pay for men and women doing the same work, equivalent work or work of equal value, has been a legal requirement since 1970. The Government remains fully committed to the Equal Pay protections in the Equality Act 2010.<p> </p>In 2017, the Government introduced regulations requiring large employers across all sectors, including financial services, to publish the differences in what they pay their male and female staff in average salaries and bonuses annually. The gender pay gap is caused by many factors and does not necessarily mean an employer has breached equal pay laws. Transparency is key to highlighting gender-based differences in pay and enabling employees to hold their employers to account, particularly where equal pay law may have been breached. answering member printed Lord Young of Cookham question first answered 02/07/2019 16:02:39 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1130834

	registered interest
	date	10/06/2019
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	By-elections: Peterborough
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answers by Lord Bourne of Aberystwyth on 3 July 2017 (HL3), 15 September 2017 (HL1448), and 13 October 2017 (HL1671), and by Lord Duncan of Springbank on 21 December 2017 (HL3975), 16 March 2018 (HL6045), 20 November 2018 (HL11393 and HL11394), and 17 May (HL15556), what assessment they have made of whether there was any abuse of the electoral system in the conduct of the by-election for Peterborough on 6 June; and if there was any such abuse, what assessment they have made of whether this is part of a wider pattern of abuse of the electoral system.
	tabling member printed	Lord Maginnis of Drumglass
	uin	HL16201
	answer	answer is ministerial correction date of answer 20/06/2019 answer text <p>We take the security and integrity of our democratic processes very seriously.</p><p>The running of polls is a matter for independent returning officers, not the Government. The Electoral Commission engage with the returning officers, electoral staff and registered parties providing assistance in disseminating information and advice to individuals delivering or participating in elections.</p><p>We have processes in place to defend against electoral fraud. There is ongoing work with electoral administrators to ensure our elections remain secure and robust, both now and in the future. Measures like voter ID are the latest in our efforts to respect, protect and promote our democracy.</p><p>Where abuse of the electoral system is alleged, it is for the Electoral Commission or Police to investigate such claims.</p> answering member printed Lord Young of Cookham question first answered 20/06/2019 14:55:39 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	648 label Biography information for Lord Maginnis of Drumglass

1130590

	registered interest
	date	06/06/2019
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	European Parliament: Elections
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the statement by Lord Young of Cookham on 5 June (HL Deb, cols 110–14), how many European Parliament Voter Registration (UC1) forms they received from the government of Belgium in respect of UK citizens, resident in Belgium, who had declared their intention to vote in the European Parliament elections in (1) 2014, and (2) 2019, in Belgium under the terms of EU Council Directive 93/109/EC; where those forms were received; how they distributed those forms to the respective UK constituencies; and how many such forms they sent to the government of Belgium in respect of EU citizens, resident in the UK, who had declared their intention to vote in the European Parliament elections in (a) 2014, and (b) 2019, in the UK.
	tabling member printed	Lord Balfe
	uin	HL16134
	answer	answer is ministerial correction date of answer 20/06/2019 answer text <p>Under EU law, EU citizens living in another Member State are able to vote in their State of residence in European Parliamentary elections. Member States will, therefore, arrange for EU nationals to register to vote in their State of residence for these elections. Member States in advance of an upcoming European Parliamentary poll will exchange with each other data on EU nationals who have chosen to register to vote in another Member State. This is intended to identify and avoid double voting at European elections.</p><p> </p><p>In the UK, the UC1 form implements this requirement under EU law. EU Council Directive 93/109/EC requires all Member States to send the details of any EU citizens’ declarations to the state they are a citizen of, “sufficiently in advance of polling day” to ensure an EU citizen does not vote twice in the same European Parliamentary election. This is not a new requirement and has been in place for previous European Parliamentary elections. A similar provision applies to UK citizens living in the other EU Member States.</p><p> </p><p>The UK Government receives data about UK citizens from the other Member States via a secure online portal managed by the European Commission. Data that can be matched to a local authority is then shared with the relevant local authority via encrypted file transfers. Electoral Registration Officers are responsible for sending the data in respect of EU nationals in the UK to the relevant Member States; the Cabinet Office does not see this data. The requested figures are attached in a deposited paper.</p><p> </p><p>In practice, we have found that the Commission’s voter information exchange process is of poor quality, as Member States record different information in respect of persons registering to vote and this may not be sufficient for other States to identify them.</p><p> </p><p>For the avoidance of doubt, this does not hinder the ability of the citizen to register to vote, nor indeed, to vote legally in elections.</p><p> </p><p>Rather, this is a deficiency in the European Commission’s mechanism to identify double voting. Notwithstanding, it is a criminal offence to vote twice in such elections, and information on voting participation will be recorded in marked registers.</p><p><strong><p><p><br></strong></p><p> </p><p><strong> </strong></p><p> </p><p>The requested figures for the European Parliamentary elections in 2014 and 2019 are as follows:</p><p> </p><table><tbody><tr><td><p>Belgium</p></td><td><p> </p></td><td><p> </p></td></tr><tr><td><p> </p></td><td><p>Usable Records Received</p></td><td><p>Records Sent to Member State</p></td></tr><tr><td><p>2014</p></td><td><p>1</p></td><td><p>1,699</p></td></tr><tr><td><p>2019</p></td><td><p>0</p></td><td><p>Not available yet*</p></td></tr><tr><td><p> </p></td><td><p> </p></td><td><p> </p></td></tr><tr><td><p>Germany</p></td><td><p> </p></td><td><p> </p></td></tr><tr><td><p> </p></td><td><p>Usable Records Received</p></td><td><p>Records Sent to Member State</p></td></tr><tr><td><p>2014</p></td><td><p>28</p></td><td><p>13,101</p></td></tr><tr><td><p>2019</p></td><td><p>18</p></td><td><p>Not available yet*</p></td></tr></tbody></table><p> </p><p>*The figures for the 2019 European Parliamentary elections are not currently available.</p><p> </p> answering member printed Lord Young of Cookham grouped question UIN HL16135 question first answered 20/06/2019 14:30:34 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	4302 label Biography information for Lord Balfe

1130591

	registered interest
	date	06/06/2019
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	European Parliament: Elections
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the statement by Lord Young of Cookham on 5 June (HL Deb, cols 110–14), how many European Parliament Voter Registration (UC1) forms they received from the government of Germany in respect of UK citizens, resident in Germany, who had declared their intention to vote in the European Parliament elections in (1) 2014, and (2) 2019, in Germany under the terms of EU Council Directive 93/109/EC; where those forms were received; how they distributed those forms to the respective UK constituencies; and how many such forms they sent to the government of Germany in respect of EU citizens, resident in the UK, who had declared their intention to vote in the European Parliament elections in (a) 2014, and (b) 2019, in the UK.
	tabling member printed	Lord Balfe
	uin	HL16135
	answer	answer is ministerial correction date of answer 20/06/2019 answer text <p>Under EU law, EU citizens living in another Member State are able to vote in their State of residence in European Parliamentary elections. Member States will, therefore, arrange for EU nationals to register to vote in their State of residence for these elections. Member States in advance of an upcoming European Parliamentary poll will exchange with each other data on EU nationals who have chosen to register to vote in another Member State. This is intended to identify and avoid double voting at European elections.</p><p> </p><p>In the UK, the UC1 form implements this requirement under EU law. EU Council Directive 93/109/EC requires all Member States to send the details of any EU citizens’ declarations to the state they are a citizen of, “sufficiently in advance of polling day” to ensure an EU citizen does not vote twice in the same European Parliamentary election. This is not a new requirement and has been in place for previous European Parliamentary elections. A similar provision applies to UK citizens living in the other EU Member States.</p><p> </p><p>The UK Government receives data about UK citizens from the other Member States via a secure online portal managed by the European Commission. Data that can be matched to a local authority is then shared with the relevant local authority via encrypted file transfers. Electoral Registration Officers are responsible for sending the data in respect of EU nationals in the UK to the relevant Member States; the Cabinet Office does not see this data. The requested figures are attached in a deposited paper.</p><p> </p><p>In practice, we have found that the Commission’s voter information exchange process is of poor quality, as Member States record different information in respect of persons registering to vote and this may not be sufficient for other States to identify them.</p><p> </p><p>For the avoidance of doubt, this does not hinder the ability of the citizen to register to vote, nor indeed, to vote legally in elections.</p><p> </p><p>Rather, this is a deficiency in the European Commission’s mechanism to identify double voting. Notwithstanding, it is a criminal offence to vote twice in such elections, and information on voting participation will be recorded in marked registers.</p><p><strong><p><p><br></strong></p><p> </p><p><strong> </strong></p><p> </p><p>The requested figures for the European Parliamentary elections in 2014 and 2019 are as follows:</p><p> </p><table><tbody><tr><td><p>Belgium</p></td><td><p> </p></td><td><p> </p></td></tr><tr><td><p> </p></td><td><p>Usable Records Received</p></td><td><p>Records Sent to Member State</p></td></tr><tr><td><p>2014</p></td><td><p>1</p></td><td><p>1,699</p></td></tr><tr><td><p>2019</p></td><td><p>0</p></td><td><p>Not available yet*</p></td></tr><tr><td><p> </p></td><td><p> </p></td><td><p> </p></td></tr><tr><td><p>Germany</p></td><td><p> </p></td><td><p> </p></td></tr><tr><td><p> </p></td><td><p>Usable Records Received</p></td><td><p>Records Sent to Member State</p></td></tr><tr><td><p>2014</p></td><td><p>28</p></td><td><p>13,101</p></td></tr><tr><td><p>2019</p></td><td><p>18</p></td><td><p>Not available yet*</p></td></tr></tbody></table><p> </p><p>*The figures for the 2019 European Parliamentary elections are not currently available.</p><p> </p> answering member printed Lord Young of Cookham grouped question UIN HL16134 question first answered 20/06/2019 14:30:34 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	4302 label Biography information for Lord Balfe

1130845

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Lendy
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether, when authorising Lendy, the Financial Conduct Authority (FCA) considered the company to be (1) an agent, or (2) a principal, in the relationship between the lender or borrower; or whether the FCA took no view on this matter.
	tabling member printed	Lord Myners
	uin	HL16212
	answer	answer is ministerial correction date of answer 24/06/2019 answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Young of Cookham question first answered 24/06/2019 13:56:52 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1131477

	registered interest
	date	11/06/2019
	answering body	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 discussions they have had with the Financial Conduct Authority about establishing an independent review into the (1) role of corporate directors of open-ended investment funds, (2) limitations placed on unlisted and illiquid investments in such funds, and (3) systemic risks arising from daily dealing in the units of investment funds.
	tabling member printed	Lord Myners
	uin	HL16271
	answer	answer is ministerial correction date of answer 24/06/2019 answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Young of Cookham question first answered 24/06/2019 15:31:06 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1135749

	registered interest
	date	01/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	H2O Asset Management
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they intend to conduct, or commission, an investigation into the management of investment portfolios by H2O Asset Management with particular reference to (1) the valuation of unlisted investments, and (2) the accuracy and completeness of statements by that firm’s management of the "gating" of future redemptions.
	tabling member printed	Lord Myners
	uin	HL16842
	answer	answer is ministerial correction date of answer 15/07/2019 answer text <p>There is no requirement for asset management firms to discuss their specific investment strategies with either HM Treasury or the FCA.</p><p> </p><p>The overarching regulatory framework for UK UCITS funds comprises EU and UK legislation and Financial Conduct Authority (FCA) rules.</p><p> </p><p>The FCA is responsible for the supervision of UK funds including UCITS, and have a broad suite of supervisory and investigative powers. For example, the FCA is required to approve the investment objective and policy of UK domiciled funds, as well as statements in the prospectus about the application of investment limits, and firms are required to treat customers fairly.</p><p> </p><p>In circumstances where a UCITS fund is domiciled outside of the UK, the supervision of its compliance with applicable UCITS investment restrictions is a matter for the home state regulator.</p><p> </p><p>If individuals have concerns about their investments, they should speak to their advisor or platform. If individuals have purchased units in a fund directly, they should speak with the relevant firm.</p> answering member printed Lord Young of Cookham grouped question UIN HL16843 question first answered 15/07/2019 14:03:24 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1135750

	registered interest
	date	01/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	H2O Asset Management
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether H20 Asset Management consulted (1) them, or (2) the Financial Conduct Authority, before that company indicated that it would never "gate" redemptions for its funds; what assessment they have made of the accuracy of that statement; and whether H2O Asset Management has been required to back that statement up with a guarantee or credit line.
	tabling member printed	Lord Myners
	uin	HL16843
	answer	answer is ministerial correction date of answer 15/07/2019 answer text <p>There is no requirement for asset management firms to discuss their specific investment strategies with either HM Treasury or the FCA.</p><p> </p><p>The overarching regulatory framework for UK UCITS funds comprises EU and UK legislation and Financial Conduct Authority (FCA) rules.</p><p> </p><p>The FCA is responsible for the supervision of UK funds including UCITS, and have a broad suite of supervisory and investigative powers. For example, the FCA is required to approve the investment objective and policy of UK domiciled funds, as well as statements in the prospectus about the application of investment limits, and firms are required to treat customers fairly.</p><p> </p><p>In circumstances where a UCITS fund is domiciled outside of the UK, the supervision of its compliance with applicable UCITS investment restrictions is a matter for the home state regulator.</p><p> </p><p>If individuals have concerns about their investments, they should speak to their advisor or platform. If individuals have purchased units in a fund directly, they should speak with the relevant firm.</p> answering member printed Lord Young of Cookham grouped question UIN HL16842 question first answered 15/07/2019 14:03:24 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners