Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

1131836

registered interest
date	12/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policy of the recommendations of the First Comprehensive Report by the Network for Greening the Financial System, co-authored by the Bank of England, published on 17 April 2019.
tabling member constituency	Stroud
tabling member printed	Dr David Drew
uin	263673
answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>The government welcomes the report from the Network for Greening the Financial System and recognises that climate change is a source of financial risks. The government will publish a Green Finance Strategy this year that will set-out its approach to greening financial systems. The government has considered recommendations from the report as part of this process and is working closely with the Bank of England and the Financial Conduct Authority.</p> answering member constituency Salisbury answering member printed John Glen question first answered 17/06/2019 14:38:41 answering member 4051 label Biography information for John Glen
tabling member	252 label Biography information for Dr David Drew

1131377

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	London Capital & Finance: Insolvency
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he plans to establish an ad hoc compensation scheme for people affected by the collapse of London Capital and Finance.
tabling member constituency	Blackpool South
tabling member printed	Gordon Marsden
uin	263057
answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>The administrators for London Capital &amp; Finance (LCF) are currently estimating recoveries for investors affected by LCF’s failure.</p><p>The Financial Services Compensation Scheme (FSCS), as the compensation scheme of last resort, can only provide compensation for claims connected with certain types of regulated activities. They are working closely with LCF’s administrators and the Financial Conduct Authority to understand more about LCF’s activities and whether there are grounds for compensation.</p><p>If there are circumstances that give rise to potentially valid claims, the FSCS will communicate this on their website. They have invited LCF investors to register for updates on their website. More information on this can be found at https://www.fscs.org.uk/failed-firms/lcf/.</p> answering member constituency Salisbury answering member printed John Glen question first answered 17/06/2019 14:30:39 answering member 4051 label Biography information for John Glen
tabling member	465 label Biography information for Gordon Marsden

1131378

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 Compensation Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of making mini-bonds subject to the provisions of the Financial Services Compensation Scheme.
tabling member constituency	Blackpool South
tabling member printed	Gordon Marsden
uin	263058
answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at London Capital &amp; Finance (LCF), a mini-bond issuer that entered administration on 30 January 2018, and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it.</p><p> </p><p>Alongside the independent investigation, the Government announced it would review a number of the wider policy questions raised by the events at LCF.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 263059 question first answered 17/06/2019 14:33:33 answering member 4051 label Biography information for John Glen
tabling member	465 label Biography information for Gordon Marsden

1131379

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	Investment: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing Government regulations on mini-bonds.
tabling member constituency	Blackpool South
tabling member printed	Gordon Marsden
uin	263059
answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at London Capital &amp; Finance (LCF), a mini-bond issuer that entered administration on 30 January 2018, and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it.</p><p> </p><p>Alongside the independent investigation, the Government announced it would review a number of the wider policy questions raised by the events at LCF.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 263058 question first answered 17/06/2019 14:33:33 answering member 4051 label Biography information for John Glen
tabling member	465 label Biography information for Gordon Marsden

1130880

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	Workplace Pensions
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 that (a) investment choices available to workplace pension customers are regularly reviewed by Independent Governance Committees and (b) those investment choices are aligned with the interests of customers.
tabling member constituency	Wallasey
tabling member printed	Ms Angela Eagle
uin	262255
answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>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.</p><p>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><p>In 2016, the FCA reviewed IGCs and found that they were “generally effective” in influencing and advancing cost reductions for members. The review also found that the Independent Project Board’s work in auditing high legacy charges and implementing IGCs had been successful. As a result, a substantial majority of consumers received improved outcomes regarding costs and charges, with 1m consumers receiving reduced costs and charges.</p><p>The FCA has announced that it will undertake a further review of IGCs in 2019/20.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 262256 262257 question first answered 13/06/2019 13:34:39 answering member 4051 label Biography information for John Glen
tabling member	491 label Biography information for Dame Angela Eagle

1130881

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	Workplace Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make it his policy that Independent Governance Committees attached to contract-based workplace pensions have a duty to monitor the suitability of the retail fund choices available to scheme members.
tabling member constituency	Wallasey
tabling member printed	Ms Angela Eagle
uin	262256
answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>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.</p><p>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><p>In 2016, the FCA reviewed IGCs and found that they were “generally effective” in influencing and advancing cost reductions for members. The review also found that the Independent Project Board’s work in auditing high legacy charges and implementing IGCs had been successful. As a result, a substantial majority of consumers received improved outcomes regarding costs and charges, with 1m consumers receiving reduced costs and charges.</p><p>The FCA has announced that it will undertake a further review of IGCs in 2019/20.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 262255 262257 question first answered 13/06/2019 13:34:39 answering member 4051 label Biography information for John Glen
tabling member	491 label Biography information for Dame Angela Eagle

1130882

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	Workplace Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the adequacy of scrutiny by Independent Governance Committees of the retail funds offered within workplace pensions products.
tabling member constituency	Wallasey
tabling member printed	Ms Angela Eagle
uin	262257
answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>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.</p><p>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><p>In 2016, the FCA reviewed IGCs and found that they were “generally effective” in influencing and advancing cost reductions for members. The review also found that the Independent Project Board’s work in auditing high legacy charges and implementing IGCs had been successful. As a result, a substantial majority of consumers received improved outcomes regarding costs and charges, with 1m consumers receiving reduced costs and charges.</p><p>The FCA has announced that it will undertake a further review of IGCs in 2019/20.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 262255 262256 question first answered 13/06/2019 13:34:40 answering member 4051 label Biography information for John Glen
tabling member	491 label Biography information for Dame Angela Eagle

1130883

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	Workplace Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if his Department will make an assessment of the potential conflict of interests in the business model of vertically integrated companies offering retail investment platforms, asset management and workplace pensions products.
tabling member constituency	Wallasey
tabling member printed	Ms Angela Eagle
uin	262258
answer	answer is ministerial correction date of answer 13/06/2019 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 the Member by letter. A copy of the letter will be placed in the Library of the House.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2019 13:30:26 answering member 4051 label Biography information for John Glen
tabling member	491 label Biography information for Dame Angela Eagle

1130985

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	Cash Dispensing: Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to improve free access to cash in Scotland.
tabling member constituency	Coatbridge, Chryston and Bellshill
tabling member printed	Hugh Gaffney
uin	262435
answer	answer is ministerial correction date of answer 18/06/2019 answer text <p>The Government recognises that widespread free access to cash remains important to the day-to-day lives of many people and small businesses in Scotland and across the UK.</p><p>The UK has one of the most extensive free-to-use ATM networks in the world; around 80% of the ATM network in Scotland is free and there are now around 700 more free ATMs in Scotland compared to 2015. From January 2018 to March 2019, there were no publicly accessible Protected ATMs in Scotland that closed which did not have alternative free access to cash via another source, such as a Post Office.</p><p> </p><p>In addition, the Government is engaging, and will continue to engage, with the regulators and industry on this important topic. In 2015, the Government established the Payment Systems Regulator (PSR), with a statutory objective to ensure that the UK’s payment systems work in the interests of their users. As a result, the PSR is closely monitoring developments within ATM provision, and has used its powers to ensure LINK meets its commitment on maintaining the broad geographical spread of free-to-use ATMs.</p><p> </p><p>To support this, LINK has introduced premiums through its Financial Inclusion programme to boost interchange fees, helping protect ATMs in remote, rural and deprived locations.</p> answering member constituency Salisbury answering member printed John Glen question first answered 18/06/2019 13:02:36 answering member 4051 label Biography information for John Glen
tabling member	4614 label Biography information for Hugh Gaffney

1131004

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	Insurance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to ensure that insurance companies do not unfairly discriminate against consumers with (a) historical and (b) current mental health conditions.
tabling member constituency	Livingston
tabling member printed	Hannah Bardell
uin	262447
answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The Government is determined that all insurers should treat customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules.</p><p> </p><p>The FCA has placed access and vulnerability at the core of the its Mission and Business Plan. For example, it is currently exploring options for signposting consumers with pre-existing and historic medical conditions, such as mental health conditions, to specialist travel insurance providers so that these consumers are better able to access suitable insurance.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2019 13:27:04 answering member 4051 label Biography information for John Glen
tabling member	4486 label Biography information for Hannah Bardell