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99779

registered interest
date	20/10/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Interest Rate Hedging Products
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what recent discussions he has had with the Financial Conduct Authority on the interest rate swap redress scheme.
tabling member constituency	Aberconwy
tabling member printed	Guto Bebb
uin	211066
answer	answer is ministerial correction date of answer 27/10/2014 answer text <p>We have asked the Chief Executive of the Financial Conduct Authority (FCA) for an assurance that redress offers which take the form of a substitute hedging product are only being offered where it is fair and reasonable to do so. In response, the FCA has said that robust oversight and challenge processes are in place to ensure that this is the case and that a replacement product offer can only be made if an independent reviewer is satisfied that there is sufficient evidence to support the decision.</p><p>In addition, my officials liaise regularly with the FCA to draw the regulator’s attention to swaps redress cases that have been raised with the department where we think this is justified.</p> answering member constituency West Suffolk answering member printed Matthew Hancock question first answered 27/10/2014 14:15:56 answering member 4070 label Biography information for Matt Hancock
tabling member	3910 label Biography information for Guto Bebb

99789

registered interest
date	20/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Interest Rate Hedging Products
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority on the interest rate swap redress scheme.
tabling member constituency	Aberconwy
tabling member printed	Guto Bebb
uin	211065
answer	answer is ministerial correction date of answer 28/10/2014 answer text <p>Treasury Ministers and officials meet with a wide range of organisations as part of the usual policy making process.</p><p> </p><p> </p><p> </p><p>However, the Chancellor has had no recent discussions with the FCA specifically regarding its review on the mis-selling of interest rate hedging products.</p><p> </p><p> </p><p> </p><p>It might be useful to know that the Treasury publishes a list of ministerial meetings with external organisations. This is available online at: http://www.hm-treasury.gov.uk/minister_hospitality.htm.</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 28/10/2014 16:23:36 answering member 4117 label Biography information for Andrea Leadsom
tabling member	3910 label Biography information for Guto Bebb