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541740

registered interest
date	21/07/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	ARM: SoftBank
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have secured any commitments from SoftBank to avoid taking action through royalty payments or increased borrowing costs that would reduce or eliminate corporation tax payments made by ARM Holdings.
tabling member printed	Lord Myners
uin	HL1417
answer	answer is ministerial correction date of answer 29/07/2016 answer text <p>The government is committed to ensuring that corporation tax applies to profits generated from UK activities. It has taken a number of steps at both a domestic and international level to achieve this, including recently announced measures to protect the UK tax base from the payment of interest and royalties to overseas companies.</p><p>The government is not able to comment on how these steps will apply to individual taxpayers.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 29/07/2016 12:20:27 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

541210

registered interest
date	20/07/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Central Counterparties
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 proposed EU-wide recovery and resolution frameworks for failed central counterparties, and whether in their assessment there are any outstanding issues.
tabling member printed	Lord Myners
uin	HL1373
answer	answer is ministerial correction date of answer 29/07/2016 answer text <p>The government welcomes the European Commission’s commitment to publish a legislative proposal on a recovery and resolution framework for central counterparties (CCPs) and will assess the proposals once published. Given the global nature of CCPs, the recovery and resolution framework will need to take into account ongoing work by the Financial Stability Board, the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO).</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 29/07/2016 12:19:49 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

541211

registered interest
date	20/07/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	London Stock Exchange: Deutsche Borse
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 consequences for financial stability of combining four large central counterparties (CCPs), LCH.Clearnet Ltd, LCH.Clearnet SA, Eurex and CC&G, when the London Stock Exchange and Deutsche Borse merge; whether adequate recovery and resolution frameworks will be in place for each of these CCPs; and whether those frameworks will be ring-fenced from each other.
tabling member printed	Lord Myners
uin	HL1374
answer	answer is ministerial correction date of answer 29/07/2016 answer text <p>LCH.Clearnet Ltd, LCH.Clearnet SA, Eurex Clearing and CC&amp;G are separate CCPs regulated under European Regulation No 648/2012 (EMIR) by their respective regulators. The London Stock Exchange Group and Deutsche Borse have publicly stated their intention that “[t]he existing regulatory framework of all regulated entities within the Combined Group would remain unchanged” following the merger. Once notified by the companies of their proposal to merge, the Bank of England will assess the proposal for a change in control of LCH.Clearnet Ltd in line with the criteria set out in EMIR.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 29/07/2016 12:19:14 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

535605

registered interest
date	12/07/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Annuities
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they are considering requiring the providers of pension annuities to increase the rate at which they calculate benefits.
tabling member printed	Lord Myners
uin	HL1152
answer	answer is ministerial correction date of answer 25/07/2016 answer text <p>Annuity rates are set by individual providers and can vary in line with market conditions. The amount of income an individual gets each year from an annuity depends on a variety of factors including how much they had in their pension pot when they bought the annuity, whether they are seeking a joint annuity, and their age, health and lifestyle.</p><p> </p><p>As a result of this government’s pensions reforms, individuals aged 55 and over with a defined contribution pension are now able to make their own choice about how to use their pension savings. The Government’s Pension Wise service provides free, impartial guidance to help people understand their options.</p> answering member printed Lord O'Neill of Gatley question first answered 25/07/2016 08:48:15 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

528190

registered interest
date	20/06/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Brexit
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government which will be the lead regulator responsible after the acquisition of the London Stock Exchange by Deutsche Börse.
tabling member printed	Lord Myners
uin	HL756
answer	answer is ministerial correction date of answer 04/07/2016 answer text <p>As announced by the companies in February 2016, the existing regulatory framework of all regulated entities within the combined group would remain unchanged. This is subject to the regulatory review which will take place once the regulators are notified by the companies.</p><p> </p><p>European Regulation No 648/2012 (EMIR) requires coordination amongst regulators for supervisory and authorisation matters with regards to CCPs.</p> answering member printed Lord O'Neill of Gatley grouped question UIN HL757 question first answered 04/07/2016 13:40:21 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

528191

registered interest
date	20/06/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Electronic Warfare
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 O’Neill of Gatley on 6 June (HL348 and HL349), whether the Bank of England will have regulatory responsibility for the subsidiary clearing house of Deutsche Börse incorporated in Germany; and, if it will not, which regulator would have responsibility in the event of a dispute between the clearing house based in the UK and the one based in Germany.
tabling member printed	Lord Myners
uin	HL757
answer	answer is ministerial correction date of answer 04/07/2016 answer text <p>As announced by the companies in February 2016, the existing regulatory framework of all regulated entities within the combined group would remain unchanged. This is subject to the regulatory review which will take place once the regulators are notified by the companies.</p><p> </p><p>European Regulation No 648/2012 (EMIR) requires coordination amongst regulators for supervisory and authorisation matters with regards to CCPs.</p> answering member printed Lord O'Neill of Gatley grouped question UIN HL756 question first answered 04/07/2016 13:40:21 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

522907

registered interest
date	06/06/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Medical Records: Data Protection
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether the financial regulators have completed their review of the risk algorithms to be used to permit cross-margining by central counterparties to facilitate the takeover of the London Stock Exchange by Deutsche Borse; whether the results of this review will be published, and whether any further steps will be taken to strengthen confidence in central clearing houses.
tabling member printed	Lord Myners
uin	HL458
answer	answer is ministerial correction date of answer 15/06/2016 answer text <p>The timings of regulatory reviews of any proposal by a CCP to make significant changes to its margining arrangements would be a matter for the company and regulators acting in accordance with the relevant legislation. The Bank of England's 2016 Annual Report on the supervision of financial market infrastructures, laid before Parliament on 4 March 2016, provides further information about ongoing regulatory initiatives in relation to CCPs.</p> answering member printed Lord O'Neill of Gatley question first answered 15/06/2016 14:48:03 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

521491

registered interest
date	25/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	UK Consumer Product Recall Review
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government who has regulatory responsibility for approving cross-margining agreements between central clearing houses and the determination of priority in the event of default.
tabling member printed	Lord Myners
uin	HL348
answer	answer is ministerial correction date of answer 06/06/2016 answer text <p>Under European Regulation No 648/2012 (EMIR) CCPs in the UK are regulated by the Bank of England. For other information I refer the noble Lord to my written answers of 1 April (HL7153) and 26 April (HL7583, HL7584, HL7585, and HL7586).</p><p> </p> answering member printed Lord O'Neill of Gatley grouped question UIN HL349 question first answered 06/06/2016 11:48:42 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

521492

registered interest
date	25/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Fire Regulations
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government when they last reviewed the risks posed to financial stability by central clearing houses; and whether such a review took account of the increasing practice of cross-margining linking two or more clearing houses.
tabling member printed	Lord Myners
uin	HL349
answer	answer is ministerial correction date of answer 06/06/2016 answer text <p>Under European Regulation No 648/2012 (EMIR) CCPs in the UK are regulated by the Bank of England. For other information I refer the noble Lord to my written answers of 1 April (HL7153) and 26 April (HL7583, HL7584, HL7585, and HL7586).</p><p> </p> answering member printed Lord O'Neill of Gatley grouped question UIN HL348 question first answered 06/06/2016 11:48:42 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

520589

registered interest
date	23/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Affordable Housing
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they or the Financial Conduct Authority have commenced reviewing the regulatory conditions to be applied to the takeover of the London Stock Exchange by Deutsche Bourse, and whether that takeover can proceed without regulatory approval.
tabling member printed	Lord Myners
uin	HL227
answer	answer is ministerial correction date of answer 02/06/2016 answer text <p>I refer the noble Lord to my written answer of 26 April (HL7583, HL7584, HL7585, and HL7586), and to the investor relations section of the London Stock Exchange Group website, which contains information about the proposed merger, including on the required regulatory approvals.</p><p> </p><p>The timings of the regulatory notifications are a matter for the companies acting in accordance with the relevant legislation.</p><p> </p><p> </p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 02/06/2016 14:05:05 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners