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707219

	registered interest
	date	02/03/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Foreign Exchange
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what progress the Government has made on bringing greater transparency to foreign currency transactions.
	tabling member constituency	Linlithgow and East Falkirk
	tabling member printed	Martyn Day
	uin	66412
	answer	answer is ministerial correction date of answer 07/03/2017 answer text <p>A competitive and transparent financial services sector is vital to ensuring that the UK economy delivers for consumers and businesses.</p><p> </p><p>As with all policy areas, the Government continues to keep transparency of foreign exchange fees under review, and is currently conducting research on the effects of this on consumer decisions to inform its policy approach.</p><p> </p><p>The Government is also currently consulting on its draft regulations for the implementation of the Second Payment Services Directive and will respond in due course.</p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby grouped question UIN 66413 question first answered 07/03/2017 10:07:45 answering member 3929 label Biography information for Simon Kirby
	tabling member	4488 label Biography information for Martyn Day

707220

	registered interest
	date	02/03/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Foreign Exchange
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if the Government will take steps to make currency conversion fully transparent in forthcoming payment services regulations.
	tabling member constituency	Linlithgow and East Falkirk
	tabling member printed	Martyn Day
	uin	66413
	answer	answer is ministerial correction date of answer 07/03/2017 answer text <p>A competitive and transparent financial services sector is vital to ensuring that the UK economy delivers for consumers and businesses.</p><p> </p><p>As with all policy areas, the Government continues to keep transparency of foreign exchange fees under review, and is currently conducting research on the effects of this on consumer decisions to inform its policy approach.</p><p> </p><p>The Government is also currently consulting on its draft regulations for the implementation of the Second Payment Services Directive and will respond in due course.</p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby grouped question UIN 66412 question first answered 07/03/2017 10:07:45 answering member 3929 label Biography information for Simon Kirby
	tabling member	4488 label Biography information for Martyn Day

751685

	registered interest
	date	13/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Foreign Exchange
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 5 July 2017 to Question 2292, from the hon. Member for Edinburgh South, whether he plans to publish the results of the research on foreign exchange (a) separately from the Government's response to the consultation, (b) in conjunction with the Government's response to the consultation or (c) not at all; if he will bring forward amendments to the draft Payment Services Regulations as a direct result of those findings; and if he will make a statement.
	tabling member constituency	Linlithgow and East Falkirk
	tabling member printed	Martyn Day
	uin	4869
	answer	answer is ministerial correction date of answer 20/07/2017 answer text <p>In my answer of 5 July I stated that the Government was conducting research on the effects of transparency in overseas money transfers (involving foreign exchange) on consumer decisions. This research helped to inform the Government’s response to the consultation on the implementation of the second Payment Services Directive (PSDII), which was published on 19 July 2017.</p><p> </p><p>The Government’s response to the consultation explains that, as the second Payment Services Directive is a maximum harmonising Directive, the Government has limited flexibility as to how far we can go beyond its explicit requirements. Although the Government could see some benefit in requiring firms to display the difference between the exchange rate they offer and the interbank exchange rate, it is clear that including such a requirement in PSDII would be gold-plating, and the Government has therefore decided not to do so.</p><p>The Government does not intend to publish the research at this point in time as it relates to the formulation and development of ongoing Government policy.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 20/07/2017 14:29:01 answering member 4095 label Biography information for Steve Barclay
	tabling member	4488 label Biography information for Martyn Day

753989

	registered interest
	date	19/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Foreign Exchange
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 17 July 2017 to Question 4713, how he will ensure that the research on the effect of pricing structures on consumer value choices is used to inform policy; and if he will make a statement.
	tabling member constituency	Linlithgow and East Falkirk
	tabling member printed	Martyn Day
	uin	6150
	answer	answer is ministerial correction date of answer 07/09/2017 answer text <p>In my answer of 17 July I stated that Government does not intend to publish the research it conducted earlier in the year on the effects of transparency in overseas money transfers (involving foreign exchange) on consumer decisions as it relates to the formulation and development of ongoing Government policy.</p><p> </p><p>The research helped to inform the Government’s response to its consultation on the implementation of the second Payment Services Directive, which was published on 19 July 2017.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 07/09/2017 16:01:57 answering member 4095 label Biography information for Steve Barclay
	tabling member	4488 label Biography information for Martyn Day