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1171817

registered interest
date	20/01/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, further to the Written Answer by Lord Duncan of Springbank on 28 October 2019 (HL48), whether the decision to classify the default rate of loans made by the British Business Bank via peer-to-peer platforms as commercially sensitive information was to protect (1) the British Business Bank, or (2) the identify of borrowers; and if it was to protect the identity of borrowers, whether they will publish the aggregate value of (a) defaulted, and (b) provisional, loans through peer-to-peer platforms for each of the last three financial years.
tabling member printed	Lord Myners
uin	HL579
answer	answer is ministerial correction date of answer 28/01/2020 answer text <p>Data provided to the British Business Bank (BBB) by its delivery partners to meet portfolio monitoring and reporting requirements remains commercially sensitive to the delivery partners and as such is governed by confidentiality agreements. An individual delivery partner may choose to publish data on the overall performance of their loan book, which may include but will not be limited to BBB backed investments. A list of BBB’s delivery partners can be found on their website.</p><p> </p><p>The BBB’s Annual Report and Accounts (“Enabling Small Businesses to Grow and Prosper”) includes information on the BBB’s overall performance and is available on the website</p> answering member printed Lord Duncan of Springbank question first answered 28/01/2020 15:47:32 answering member 4686 label Biography information for Lord Duncan of Springbank
tabling member	3869 label Biography information for Lord Myners

1167255

registered interest
date	29/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Ministerial Powers
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government on how many occasions since 24 July Permanent Secretaries or Senior Civil Servants required ministerial direction to act, broken down by Government Department.
tabling member printed	Lord Myners
uin	HL523
answer	answer is ministerial correction date of answer 01/11/2019 answer text <p>Ministerial directions are published on gov.uk.</p><p> </p><p>There have been no ministerial directions since 24<sup>th</sup> July 2019.</p> answering member printed The Earl of Courtown question first answered 01/11/2019 09:28:48 answering member 3359 label Biography information for The Earl of Courtown
tabling member	3869 label Biography information for Lord Myners

1156587

registered interest
date	28/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Coinage
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how many 50p coins to commemorate Brexit on 31 October have been minted.
tabling member printed	Lord Myners
uin	HL467
answer	answer is ministerial correction date of answer 05/11/2019 answer text <p>Approximately 1 million coins were minted in October to mark the UK’s exit from the European Union. Coins bearing this date will now be recycled and the value from the materials will be recouped by the Exchequer.</p> answering member printed The Earl of Courtown question first answered 05/11/2019 14:29:32 answering member 3359 label Biography information for The Earl of Courtown
tabling member	3869 label Biography information for Lord Myners

1156588

registered interest
date	28/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Regulation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to review the impact of regulation on the competitiveness of financial services in the UK.
tabling member printed	Lord Myners
uin	HL468
answer	answer is ministerial correction date of answer 04/11/2019 answer text <p>The Government keeps the regulatory framework for financial services under review, and is committed to ensuring the competitiveness of the sector. It has also given the independent financial services regulators a statutory mandate to have regard to aspects of the Government’s economic policy (including competitiveness), which is communicated through letters of recommendations.</p> answering member printed The Earl of Courtown question first answered 04/11/2019 14:00:31 answering member 3359 label Biography information for The Earl of Courtown
tabling member	3869 label Biography information for Lord Myners

1156589

registered interest
date	28/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Forecasts
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government when they intend to publish their next economic forecasts in accordance with the Industry Act 1975.
tabling member printed	Lord Myners
uin	HL469
answer	answer is ministerial correction date of answer 04/11/2019 answer text <p>The schedule pertaining to economic forecasting in the Industry Act 1975 has been repealed in consequence of the provisions in the Budget Responsibility and National Audit Act 2011.</p><p> </p><p>The Budget Responsibility and National Audit Act 2011 established the creation of the independent Office for Budget Responsibility. This legislation outlines that it is the duty of the Office to produce, on at least two occasions for each financial year, a fiscal and economic forecast. As a result, the government’s medium-term economic and fiscal forecasting is undertaken by the Office for Budget Responsibility in line with its statutory duty.</p><p> </p><p>The Office for Budget Responsibility will produce a new economic and fiscal forecast to accompany the next fiscal event.</p> answering member printed The Earl of Courtown question first answered 04/11/2019 13:59:51 answering member 3359 label Biography information for The Earl of Courtown
tabling member	3869 label Biography information for Lord Myners

1156326

registered interest
date	24/10/2019
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 whether they will (1) establish an independent review into the Financial Conduct Authority's supervision of Woodford Investment Management and Link Financial Solutions, and (2) review the protections in place for investors in open-ended funds in circumstances similar to those managed by Woodford.
tabling member printed	Lord Myners
uin	HL410
answer	answer is ministerial correction date of answer 04/11/2019 answer text <p>The government takes the suspension and winding up of the Woodford Equity Income Fund (WEIF) very seriously and is monitoring the response. The Financial Conduct Authority (FCA) is continuing its investigation into the activities that led to the suspension of the WEIF. At this stage, the government has not seen evidence that would justify establishing an independent review into the FCA’s supervision of the fund.</p><p> </p><p>As part of its investigation, the FCA is considering what FCA rule changes may be necessary to protect investors and to prevent similar issues in future. The FCA is also working with the Bank of England’s Financial Policy Committee to assess how funds’ redemption terms might be better aligned with the liquidity of their assets. Once the FCA publishes its findings, we will be able to assess whether there is any further role for the government.</p><p> </p> answering member printed The Earl of Courtown question first answered 04/11/2019 13:59:30 answering member 3359 label Biography information for The Earl of Courtown
tabling member	3869 label Biography information for Lord Myners

1152016

registered interest
date	23/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	FundingSecure: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to establish an independent inquiry into the failure of peer-to-peer lender Fund Secure; and on which date they first became aware that the firm was experiencing difficulty.
tabling member printed	Lord Myners
uin	HL360
answer	answer is ministerial correction date of answer 31/10/2019 answer text <p>The Government does not intend to establish an inquiry into the failure of the peer-to-peer (P2P) lending platform Funding Secure, which entered into administration on 23 October. The Government monitors the P2P lending sector on an ongoing basis and engages regularly with P2P platforms and the Financial Conduct Authority (FCA), who are responsible for the regulation of the sector.</p><p> </p><p>The FCA is operationally independent from Government. The second part of the question as it relates to the FCA has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter and a copy of the letter will be placed in the Library of the House.</p> answering member printed The Earl of Courtown question first answered 31/10/2019 13:43:02 answering member 3359 label Biography information for The Earl of Courtown
tabling member	3869 label Biography information for Lord Myners

1149828

registered interest
date	15/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Collateral (UK)
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether when the FCA processed the FSMA full Part A application made by Collateral (UK) Limited on 23 March 2016, for which Collateral paid a fee of £1,500, whether it checked the information already contained in its Interim Permission file 656714; and whether it checked details on Collateral at Companies House and the date of Collateral's incorporation in respect of the date of grant of Interim Permission.
tabling member printed	Lord Myners
uin	HL120
answer	answer is ministerial correction date of answer 22/10/2019 answer text <p>The FCA is responsible for the regulation of the financial services sector and is operationally independent from Government. These questions relate to the FCA and have been passed on to them. The FCA will reply directly to Lord Myners by letter, and a copy of the letter will be placed in the Library of the House.</p> answering member printed The Earl of Courtown grouped question UIN HL46 question first answered 22/10/2019 14:41:22 answering member 3359 label Biography information for The Earl of Courtown
tabling member	3869 label Biography information for Lord Myners

1149752

registered interest
date	14/10/2019
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Thomas Cook: Insolvency
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 actions of financial and other advisers to Thomas Cook Group in seeking the payment of fees before the Group collapsed; what plans they have, if any, to launch an investigation into such actions; and whether such an investigation will examine whether these actions constituted an act of fraudulent preference to the disadvantage of UK taxpayers.
tabling member printed	Lord Myners
uin	HL45
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The Business Secretary has written to the Insolvency Service to ask them to prioritize and fast-track their investigation into the circumstances surrounding Thomas Cook going into liquidation.</p><p> </p><p>Under the Insolvency Act 1986, the Official Receiver as liquidator may seek to overturn a range of transactions made prior to the liquidation, for example where preference payments have been made to a creditor/s or where a transaction is to the detriment of creditors.</p> answering member printed Lord Duncan of Springbank question first answered 28/10/2019 12:45:47 answering member 4686 label Biography information for Lord Duncan of Springbank
tabling member	3869 label Biography information for Lord Myners

1149753

registered interest
date	14/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Collateral (UK)
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether the interim permission granted to Regal Pawnbroker Limited, subsequently renamed Collateral (UK) in the Financial Conduct Authority’s register, would have lapsed automatically on 31 March 2016 if an application had not been passed for Part 4A Permission under the Financial Services and Markets Act 2000.
tabling member printed	Lord Myners
uin	HL46
answer	answer is ministerial correction date of answer 22/10/2019 answer text <p>The FCA is responsible for the regulation of the financial services sector and is operationally independent from Government. These questions relate to the FCA and have been passed on to them. The FCA will reply directly to Lord Myners by letter, and a copy of the letter will be placed in the Library of the House.</p> answering member printed The Earl of Courtown grouped question UIN HL120 question first answered 22/10/2019 14:41:22 answering member 3359 label Biography information for The Earl of Courtown
tabling member	3869 label Biography information for Lord Myners