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1130842

	registered interest
	date	10/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Takeovers: Conflict of Interests
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 20 May (HL15640), whether they have reviewed the decision-making processes in investment institutions which hold equity investments in both the offeror and the offeree in a takeover situation but on behalf of different clients and where a particular outcome might favour one group of clients over another .
	tabling member printed	Lord Myners
	uin	HL16209
	answer	answer is ministerial correction date of answer 19/06/2019 answer text <p>Asset managers act as agents of investors in their funds. They are required to manage their funds in the best interests of all of their fund investors and to appropriately avoid, manage and disclose conflicts of interests that could, and do arise between different investor groups. This is a requirement of Markets in Financial Instruments Directive II (MiFID II).</p><p> </p><p>Asset managers should have policies, procedures and governance in place to effectively manage any conflicts arising from their stewardship obligations.</p><p> </p><p>The FCA has recently published a Policy Statement (PS 19/13) ‘Proposals to promote shareholder engagement: Feedback to CP 19/7 and final rules.’ This sets out final rules to implement requirements of the Revised Shareholder Rights Directive (SRD II). SRD II introduced new requirements to improve shareholder engagement and increase transparency around stewardship. The rules came into effect on 10 June 2019 requiring asset managers to disclose and make publicly available their policies on how they engage with the companies they invest in. They also require asset managers to provide certain information to institutional investors, including occupational pension schemes. The new rules are designed to foster stewardship, and better stewardship should lead to better decision making in relation to mergers and acquisitions.</p> answering member printed Lord Henley question first answered 19/06/2019 16:42:37 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1131491

	registered interest
	date	11/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Business: Investment
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of the report by KPMG 2018 Global CEO Outlook: UK, published on 11 June, in regard to business investment in the UK after Brexit.
	tabling member printed	Lord Taylor of Warwick
	uin	HL16285
	answer	answer is ministerial correction date of answer 19/06/2019 answer text <p>The report concluded that uncertainty had weakened CEOs’ confidence in their own country’s growth prospects since the 2017 report; which fell in 6 of the 11 top economies surveyed.</p><p>In the 2019 KPMG report, confidence in the UK economy improved and was matched in official statistics by a 0.5% expansion in business investment in the first quarter of 2019, according to the ONS ‘GDP first quarterly estimate’.</p><p> </p> answering member printed Lord Henley question first answered 19/06/2019 16:42:10 answering member 2616 label Biography information for Lord Henley
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1131490

	registered interest
	date	11/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Shopping Centres
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what steps they are taking to support businesses increase footfall in shopping centres.
	tabling member printed	Lord Taylor of Warwick
	uin	HL16284
	answer	answer is ministerial correction date of answer 19/06/2019 answer text <p>The Retail Sector is changing, we are committed to helping communities adapt and support the retail sector during this change. The Government and the retail sector recognise that action is needed to ensure the sector thrives. The creation of the Retail Sector Council demonstrates this commitment to the continued success of the retail sector.</p><p>In Budget 2018, we set out Our Plan for the High Street, a £1.6bn package to support the sustainable transformation of our high streets, including a £675m Future High Streets Fund and a High Streets Task Force to support local leadership.</p> answering member printed Lord Henley question first answered 19/06/2019 16:41:54 answering member 2616 label Biography information for Lord Henley
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1131489

	registered interest
	date	11/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Draft Registration of Overseas Entities Bill
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when they intend to introduce the Registration of Overseas Entities Bill.
	tabling member printed	Baroness Stern
	uin	HL16283
	answer	answer is ministerial correction date of answer 19/06/2019 answer text <p>The Government published a Draft Registration of Overseas Entities Bill on 23 July 2018.</p><p> </p><p>A Joint Committee was appointed to consider and report on the Draft Bill. The Committee made recommendations in a report to both Houses, published on 20 May 2019. The Government welcomes the Committee’s thorough and helpful scrutiny of the Bill. We are considering their recommendations and will publish a response in due course.</p><p> </p><p>The Government intends to introduce the Bill to Parliament early in the second session. Following Royal Assent and the making of secondary legislation, the Government anticipates that the register will be operational in 2021.</p> answering member printed Lord Henley question first answered 19/06/2019 16:41:36 answering member 2616 label Biography information for Lord Henley
	tabling member	2475 label Biography information for Baroness Stern