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999770

registered interest
date	01/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they anticipate that current Organisation for Economic Co-operation and Development rules relating to tax residency will be adhered to following Brexit.
tabling member printed	Viscount Waverley
uin	HL11215
answer	answer is ministerial correction date of answer 15/11/2018 answer text <p>The UK will continue to adhere to the OECD’s tax standards after Brexit. These include the provisions relating to residence in the OECD model treaty.</p> answering member printed Lord Bates question first answered 15/11/2018 17:22:05 answering member 1091 label Biography information for Lord Bates
tabling member	1744 label Biography information for Viscount Waverley

947642

registered interest
date	24/07/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to advance the UK’s position as an international financial centre.
tabling member printed	Viscount Waverley
uin	HL9898
answer	answer is ministerial correction date of answer 02/08/2018 answer text <p>The UK is home to the world’s preeminent financial centre and the government is committed to maintaining and enhancing this position. In addition to our natural advantages, such as a central time zone and the English language, we have strengths across all the major sectors – banking, asset management, and insurance – alongside a globally respected regulatory system, and world-class legal and professional services.</p><p> </p><p>As the Chancellor of the Exchequer set out in his Mansion House speech in June, the government has a long-term vision for the future of UK financial services, based on ensuring the continued innovation, resilience, and openness of the sector. This includes strengthening the UK’s already world-leading positions in the markets of the future, whether in Fintech, green and sustainable finance, or rupee and renminbi products.</p> answering member printed Lord Bates question first answered 02/08/2018 12:10:45 answering member 1091 label Biography information for Lord Bates
tabling member	1744 label Biography information for Viscount Waverley

940115

registered interest
date	12/07/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Asian Infrastructure Investment Bank
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what involvement the UK has with the Asian Infrastructure Investment Bank.
tabling member printed	Viscount Waverley
uin	HL9530
answer	answer is ministerial correction date of answer 25/07/2018 answer text <p>The UK became a founding member of the Asian Infrastructure Investment Bank (AIIB) in 2015, with a 3.18% shareholding, representing a capital contribution of $3.05 billion (of which 20% will be paid-in over five years, and 80% is callable).</p><p> </p><p>The Chancellor of the Exchequer represents the UK at the AIIB Board of Governors. The UK also holds one of the 12 seats on the AIIB Board of Directors, representing the Wider Europe Constituency (Denmark, Hungary, Iceland, Norway, Poland, Sweden, Switzerland and the UK).</p><p> </p><p>The UK is an active and committed shareholder of the Bank, in pursuit of the UK’s objectives of supporting economic growth in Asia, deepening economic ties globally, supporting the development of international financial institutions, and creating opportunities for British businesses.</p><p> </p> answering member printed Lord Bates question first answered 25/07/2018 13:23:58 answering member 1091 label Biography information for Lord Bates
tabling member	1744 label Biography information for Viscount Waverley

909661

registered interest
date	22/05/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Markets: Corruption
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 use of the UK’s financial markets for corrupt transactions by overseas investors; and what steps they are taking to combat such practices.
tabling member printed	Viscount Waverley
uin	HL8156
answer	answer is ministerial correction date of answer 06/06/2018 answer text <p>The UK’s openness and status as a global financial centre exposes it to the risk of illicit financial flows.</p><p> </p><p>The UK’s National Risk Assessment 2017 assessed that retail banking, wholesale banking, capital markets and wealth management are all exposed to high money laundering risks. This assessment can be viewed online.</p><p> </p><p>This government is committed to ensuring the UK’s financial system is hostile to illicit finance, and is taking action to protect the integrity of the UK financial system.</p><p> </p><p>This includes introducing the Criminal Finances Act 2017 to enhance law enforcement’s powers to investigate and tackle financial crime, and comprehensively updating the Money Laundering Regulations to bring them in line with the latest international standards.</p><p> </p><p>The Financial Conduct Authority (FCA), which supervises financial institutions conducts regular, detailed AML inspections of the major retail and investment banks operating in the UK. Where financial institutions fall short of their legal and regulatory obligations, the FCA has taken tough action.</p><p> </p> answering member printed Lord Bates question first answered 06/06/2018 16:03:05 answering member 1091 label Biography information for Lord Bates
tabling member	1744 label Biography information for Viscount Waverley

906033

registered interest
date	16/05/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Taxation: Domicil
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they intend to continue to adhere to the OECD residency criteria for tax purposes post-Brexit.
tabling member printed	Viscount Waverley
uin	HL7957
answer	answer is ministerial correction date of answer 24/05/2018 answer text <p>The UK will continue to adhere to the OECD’s tax standards after Brexit. These include the provisions relating to residence in the OECD model treaty that the UK uses as the basis for bilateral double taxation agreements.</p> answering member printed Lord Bates question first answered 24/05/2018 14:08:56 answering member 1091 label Biography information for Lord Bates
tabling member	1744 label Biography information for Viscount Waverley

870281

registered interest
date	23/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Trade Barriers
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how they intend to protect the economy from the effects of any trade war, following the UK's withdrawal from the EU.
tabling member printed	Viscount Waverley
uin	HL6615
answer	answer is ministerial correction date of answer 29/03/2018 answer text <p>The UK is a global advocate for free trade and continues to work with global partners and as part of multilateral discussions at the WTO to tackle protectionism and protectionist measures.</p><p> </p><p>When the UK leaves the EU, we will play a full part in promoting compliance with the rules-based trading system and, if necessary, make use of the WTO’s dispute resolution procedures in defence of our national interests.</p><p> </p><p>As part of preparations for the UK’s exit from the EU, we are also committed to creating a trade remedies framework which is able to react efficiently and effectively to tackle unfair trade where necessary.</p> answering member printed Lord Bates question first answered 29/03/2018 14:57:07 answering member 1091 label Biography information for Lord Bates
tabling member	1744 label Biography information for Viscount Waverley