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1640225

registered interest
date	24/05/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Consumers: Protection
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to strengthen consumer protection measures, particularly for loans, for the 2023–24 financial year.
tabling member printed	Lord Taylor of Warwick
uin	HL8114
answer	answer is ministerial correction date of answer 05/06/2023 answer text <p>The government is committed to promoting high standards of consumer protection, to ensure that everyone can benefit from high quality financial services, including in the consumer lending market.</p><p> </p><p>On 16 June 2022, the government announced its intention to reform the Consumer Credit Act 1974, which forms a key part of the regulation of consumer credit (including personal loans), and recently consulted on the strategic direction of reform. Modernising the CCA will ensure that protections afforded to consumers are fit for purpose and are in step with technological advancements and product innovation. The government will seek to maintain high levels of consumer protection and consider what changes are required to existing protections to ensure better consumer outcomes. The government intends to publish a response to this consultation soon and develop detailed reform proposals ahead of a second consultation in due course.</p><p> </p><p>The government is also working to bring currently unregulated Buy-Now Pay-Later (BNPL) products into Financial Conduct Authority (FCA) regulation, recognising the potential detriment these products may pose to consumers. On 14 February 2023, the government published a consultation on the draft legislation that will bring BNPL products into FCA regulation in a proportionate way. This consultation closed on 11 April. The government is now carefully considering stakeholder feedback and is finalising its approach.</p><p> </p><p>In addition, the Government legislated in the Financial Services Act 2021 to require the FCA to consult on whether it should make rules giving regulated financial service providers a duty of care over their customers. Following extensive engagement with stakeholders, the FCA published a final Policy Statement on 27 July 2022 on its new Consumer Duty. The Consumer Duty will clarify and raise expectations for the standard of care that should be provided by financial services firms to consumers. The rules will come into effect for new and existing products in July 2023.</p> answering member printed Baroness Penn question first answered 05/06/2023 14:46:29 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1626789

registered interest
date	10/05/2023
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Consumers: Protection
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business and Trade, what assessment her Department has made of the adequacy of (a) consumer rights and (b) support available to consumers who purchase goods and services from a company that becomes insolvent.
tabling member constituency	Watford
tabling member printed	Dean Russell
uin	184530
answer	answer is ministerial correction date of answer 22/05/2023 answer text <p>In 2014 the Government asked the Law Commission to examine the protections for consumers in insolvency situations who have prepaid for goods and services. Its report was published in 2016 and found that the combination of existing law and chargeback rules provided important protection, and that substantial amounts could be refunded in this way.</p><p> </p><p>The Government’s response to the Commission’s recommendations was published in 2018 and has already led to new guidance to insolvency office-holders on chargeback provisions.</p><p> </p><p>The UK regime sets some of the highest standards of consumer protection in the world. The Digital Markets, Competition and Consumers Bill currently before Parliament establishes new tools to drive competition in digital markets, and boosts consumer rights and enforcement against unscrupulous businesses.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 22/05/2023 15:09:37 answering member 4474 label Biography information for Kevin Hollinrake
tabling member	4812 label Biography information for Dean Russell

1610070

registered interest
date	14/04/2023
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Consumers: Protection
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business and Trade, what steps her Department is taking to improve consumer protection for victims of rogue traders.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	180203
answer	answer is ministerial correction date of answer 24/04/2023 answer text <p>The DMCC Bill includes a delegated power to amend the list of unfair practices in the Consumer Protection from Unfair Trading Regulations 2008. This power will keep consumer protections up-to-date and responsive to emerging harms from rogue traders that impact consumers.</p><p>The first intended use of this power is to tackle fake and misleading reviews which will be consulted on during Bill passage.</p><p>Through the Consumer Protection Partnership, we will be delivering two campaigns this year that will focus on how consumers can protect themselves against scams and how to report a scam to help protect others.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 24/04/2023 13:34:00 answering member 4474 label Biography information for Kevin Hollinrake
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1605548

registered interest
date	20/03/2023
answering body	Department for Energy Security and Net Zero
answering dept id	215
answering dept short name	Energy Security and Net Zero
answering dept sort name	Energy Security and Net Zero
hansard heading	Consumers: Protection
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Energy Security and Net Zero, with reference to paragraph 5.2 of the Autumn Statement 2022, CP751, published on 17 November 2022, what recent progress his Department has made on developing a new approach to consumer protection after April 2024.
tabling member constituency	North West Norfolk
tabling member printed	James Wild
uin	169470
answer	answer is ministerial correction date of answer 28/03/2023 answer text <p>The Autumn Statement set out a commitment to work with consumer groups and industry on a new approach to consumer protection in energy markets. Officials are proactively reaching out to stakeholders, to discuss their views on the issue. The Government will set out its position when this assessment is complete, in time to deliver a new approach from April 2024.</p> answering member constituency Derby North answering member printed Amanda Solloway question first answered 28/03/2023 12:59:11 answering member 4372 label Biography information for Amanda Solloway
tabling member	4787 label Biography information for James Wild

1549120

registered interest
date	06/12/2022
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	Consumers: Protection
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department plan to take to improve consumer protection for victims of rogue traders who are no longer able to make contact in order to gain redress.
tabling member constituency	Southport
tabling member printed	Damien Moore
uin	104469
answer	answer is ministerial correction date of answer 14/12/2022 answer text <p>The Government will bring forward the Digital Markets, Competition and Consumer Bill in this session of Parliament. The legislation includes measures that will considerably strengthen the UK's consumer protection framework, such as introducing civil fines for traders that infringe consumer protection law.</p><p> </p><p>Furthermore, the Department funds the Citizens Advice consumer service, which provides advice on general consumer issues, online or by phone. They can provide help and information on consumer rights, how to find trusted traders, using Alternate Dispute Resolution, and making a claim in the court. They provide referrals to partner consumer organisations for additional help or enforcement, such as Trading Standards.</p><p> </p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 14/12/2022 16:45:16 answering member 4474 label Biography information for Kevin Hollinrake
tabling member	4669 label Biography information for Damien Moore

1546973

registered interest
date	30/11/2022
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	Consumers: Protection
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will make an assessment of the potential merits of introducing legislation in order to prevent price gouging and strengthen consumer protection in case of rare and unexpected events.
tabling member constituency	The Wrekin
tabling member printed	Mark Pritchard
uin	99789
answer	answer is ministerial correction date of answer 13/12/2022 answer text <p>The Government is committed to tackling consumer rip-offs and bad business practices, including profiteering.</p><p> </p><p>The Competition and Markets Authority (CMA) monitors firms suspected of profiteering to challenge unjustifiable price increases and takes enforcement action where there is evidence that competition or consumer protection law has been broken.</p><p> </p><p>Through the Digital Markets, Competition and Consumer Bill, government has committed to give the CMA administrative enforcement powers to tackle businesses not treating customers fairly, bolstering protections for consumers across the economy.</p><p> </p><p>The Government continues to monitor the operation of consumer markets and keeps all options under review to ensure good value and service for consumers.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 13/12/2022 10:01:51 answering member 4474 label Biography information for Kevin Hollinrake
tabling member	1576 label Biography information for Mark Pritchard

1537028

registered interest
date	27/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Consumers: Protection
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have, if any, to introduce a statutory duty of care for consumers.
tabling member printed	The Lord Bishop of St Albans
uin	HL2982
answer	answer is ministerial correction date of answer 09/11/2022 answer text <p>The Consumer Protection from Unfair Trading Regulations 2008 (CPRs) prohibit traders from engaging in unfair commercial practices towards consumers. The CPRs already prohibit practices that contravene the requirements of professional diligence, which is defined as the standard of special skill and care that a trader may reasonably be expected to exercise towards consumers, commensurate with either honest market practice or the general principle of good faith.</p><p> </p><p>The Financial Services Act 2021 required the Financial Conduct Authority (FCA) to consult on whether it should make rules giving regulated financial services providers a duty of care over their customers. This was in response to concerns from Parliamentarians and others, who wanted to reduce levels of consumer harm in financial services.</p><p> </p><p>The FCA published a final Policy Statement on its new Consumer Duty on 27 July 2022, following two consultations in May and December 2021.</p><p> </p><p>The FCA has set out its views on how the Consumer Duty satisfies the requirement for it to consult on the introduction of a duty of care for financial services firms, and why the Consumer Duty amounts to a duty of care.</p><p> </p><p>The FCA, as an operationally independent regulator, is responsible for implementing and enforcing its Consumer Duty rules. It would not be appropriate for the government to comment on the specific rules introduced by the FCA.</p> answering member printed Baroness Penn grouped question UIN HL2980 HL2981 question first answered 09/11/2022 11:52:05 answering member 4726 label Biography information for Baroness Penn
tabling member	4308 label Biography information for The Lord Bishop of St Albans

1465114

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Consumers: Protection
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the impact on UK competitiveness of the Financial Conduct Authority's recently consulted proposals entitled A New Consumer Duty; and what cost benefit analysis he has done of those proposals.
tabling member constituency	West Worcestershire
tabling member printed	Harriett Baldwin
uin	6751
answer	answer is ministerial correction date of answer 26/05/2022 answer text <p>The Government is committed to ensuring that all consumers of financial services are appropriately protected.</p><p> </p><p>That is why the Government legislated in the Financial Services Act 2021 to require the Financial Conduct Authority (FCA) to consult on whether it should make rules, giving regulated financial service providers a duty of care over their customers. This was in response to concerns from Parliamentarians, who wanted to reduce levels of consumer harm in financial services.</p><p> </p><p>In response, the FCA has proposed a new Consumer Duty, which seeks to clarify and raise expectations for the standard of care that should be provided by financial services firms to consumers, and ensure consumers benefit from a higher level of care from financial services firms.</p><p> </p><p>The FCA has published a cost benefit analysis covering its proposed Consumer Duty which is available on its website.</p><p> </p><p>The FCA, as an operationally independent regulator, is responsible for carrying out its Consumer Duty consultation including assessing the potential costs and benefits of the proposals and for making any new rules which it considers appropriate following that consultation.</p> answering member constituency Salisbury answering member printed John Glen question first answered 26/05/2022 10:23:49 answering member 4051 label Biography information for John Glen
tabling member	4107 label Biography information for Dame Harriett Baldwin

1356779

registered interest
date	20/09/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Consumers: Protection
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 adequacy of the description of the legal meaning of a duty of care set out in the FCA consultation proposing a new consumer duty, published on 14 May 2021.
tabling member constituency	Linlithgow and East Falkirk
tabling member printed	Martyn Day
uin	51780
answer	answer is ministerial correction date of answer 27/09/2021 answer text <p>The Government is committed to ensuring financial services consumers are appropriately protected.</p><p> </p><p>In accordance with the requirements set out in the Financial Services Act 2021, the Financial Conduct Authority (FCA) published a consultation on 14 May 2021 proposing a new ‘Consumer Duty’. The Consumer Duty seeks to clarify and raise expectations for the standard of care that should be provided by financial services firms to consumers. This aims to ensure consumers benefit from a higher level of care from financial services firms.</p><p> </p>As set out in paragraph 2.31 of the FCA’s consultation paper, the consultation’s proposals have been specifically designed to meet the requirements of the Financial Services Act 2021. The FCA, as an operationally independent regulator, is responsible for carrying out the consultation and for making any new rules which it considers appropriate following the consultation. It would therefore be inappropriate for the Government to comment further on the specifics of the consultation’s proposals. answering member constituency Salisbury answering member printed John Glen grouped question UIN 51781 question first answered 27/09/2021 13:08:04 answering member 4051 label Biography information for John Glen
tabling member	4488 label Biography information for Martyn Day

1356785

registered interest
date	20/09/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Consumers: Protection
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 effectiveness of the consumer duty proposed by the Financial Conduct Authority in their 14 May 2021 consultation on meeting the objective of consumers being owed a duty of care by authorised persons as required by section 29 of the Financial Services Act 2021.
tabling member constituency	Linlithgow and East Falkirk
tabling member printed	Martyn Day
uin	51781
answer	answer is ministerial correction date of answer 27/09/2021 answer text <p>The Government is committed to ensuring financial services consumers are appropriately protected.</p><p> </p><p>In accordance with the requirements set out in the Financial Services Act 2021, the Financial Conduct Authority (FCA) published a consultation on 14 May 2021 proposing a new ‘Consumer Duty’. The Consumer Duty seeks to clarify and raise expectations for the standard of care that should be provided by financial services firms to consumers. This aims to ensure consumers benefit from a higher level of care from financial services firms.</p><p> </p>As set out in paragraph 2.31 of the FCA’s consultation paper, the consultation’s proposals have been specifically designed to meet the requirements of the Financial Services Act 2021. The FCA, as an operationally independent regulator, is responsible for carrying out the consultation and for making any new rules which it considers appropriate following the consultation. It would therefore be inappropriate for the Government to comment further on the specifics of the consultation’s proposals. answering member constituency Salisbury answering member printed John Glen grouped question UIN 51780 question first answered 27/09/2021 13:08:04 answering member 4051 label Biography information for John Glen
tabling member	4488 label Biography information for Martyn Day