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1329566

	registered interest
	date	04/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Royal Bank of Scotland: Small Businesses
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has plans to establish an independent quality assurance review of RBS Global Restructuring Group's treatment of SMEs.
	tabling member constituency	Stirling
	tabling member printed	Alyn Smith
	uin	10648
	answer	answer is ministerial correction date of answer 10/06/2021 answer text <p>It would be inappropriate for the Government to comment on or intervene in the independent redress process overseen by Sir William Blackburne.</p><p>The Government believes that the financial services industry has changed significantly since the challenging period leading up to and following the financial crisis. For example, all of the major SME lenders have signed up to the Standards of Lending Practice (SLP), which are overseen by the independent Lending Standards Board and contain clear guidance on best practice.</p><p>The Government has always been clear that the fact that there were areas of widespread inappropriate treatment of firms by RBS GRG is unacceptable. RBS has rightly apologised for these mistakes and as stated above, has set up a scheme to compensate victims. The redress scheme has paid out over £130 million so far and the Government continues to monitor how much redress is being paid out.</p><p>There are currently no plans to undertake a review of RBS Global Restructuring Group's treatment of SMEs.</p> answering member constituency Salisbury answering member printed John Glen question first answered 10/06/2021 08:54:36 answering member 4051 label Biography information for John Glen
	tabling member	4738 label Biography information for Alyn Smith

1282392

	registered interest
	date	01/02/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Stock Market: Internet
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure (a) Trading 212, (b) Robinhood and (c) other stock trading companies protect consumer rights to buy and sell stocks.
	tabling member constituency	Stirling
	tabling member printed	Alyn Smith
	uin	147054
	answer	answer is ministerial correction date of answer 04/02/2021 answer text <p>The Financial Conduct Authority (FCA) is the UK’s financial markets conduct regulator and is responsible for protecting consumers, ensuring market integrity and promoting effective competition. As set out in the FCA’s statement of 29 January, broking firms are not obliged to offer trading facilities to clients and may withdraw or suspend services if it is necessary or prudent to do so. The FCA’s statement also said that they would take appropriate action wherever they see evidence of UK firms or individuals causing harm to UK consumers or markets.</p><p> </p><p>The Government recognises that the pace and creativity of innovation in UK financial services creates new opportunities for businesses and consumers to participate in markets through technologies such as app-based platforms. However, investors should be aware that investing in securities comes with risks. The FCA’s statement of 29 January warned consumers that any losses that result from such investments are unlikely to be covered under the Financial Services Compensation Scheme.</p> answering member constituency Salisbury answering member printed John Glen question first answered 04/02/2021 11:58:44 answering member 4051 label Biography information for John Glen
	tabling member	4738 label Biography information for Alyn Smith

1134219

	registered interest
	date	24/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cash Dispensing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what discussions he has had with UK banks on the costs of running ATMs at their branches.
	tabling member constituency	Stirling
	tabling member printed	Stephen Kerr
	uin	268598
	answer	answer is ministerial correction date of answer 02/07/2019 answer text The UK has over 60,000 ATMs, almost all connected to the LINK network. These ATMs are owned and operated by banks and building societies (40%), in addition to independent ATM operators (60%). According to the Access to Cash Review, of the estimated £5bn annual cost of the UK’s cash infrastructure, £1bn of this relates to the running and maintenance of ATMs.<p> </p><p>Regarding specific discussions, Treasury Ministers and Officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a>.</p> answering member constituency Salisbury answering member printed John Glen question first answered 02/07/2019 14:25:31 answering member 4051 label Biography information for John Glen
	tabling member	4604 label Biography information for Stephen Kerr