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850750

	registered interest
	date	27/02/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of RegTech's potential effect on reducing the administrative burden of regulation.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	129986
	answer	answer is ministerial correction date of answer 07/03/2018 answer text <p>RegTech has significant potential to reduce the administrative burden of regulation. The Financial Conduct Authority is already aware of the opportunities associated with RegTech, and have run a series of ‘tech sprints’ intended to address specific industry challenges.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 07/03/2018 13:47:09 answering member 4051 label Biography information for John Glen
	tabling member	1586 label Biography information for Adam Afriyie

419038

	registered interest
	date	16/09/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what plans he has to bring forward legislation to regulate (a) digital currencies, (b) crowdfunding and (c) peer-to-peer lending.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	10491
	answer	answer is ministerial correction date of answer 12/10/2015 answer text <p>At the March Budget, the Government said it would consult on how to regulate digital currency exchanges in the new Parliament.</p><p>Operating a P2P platform has been an activity regulated by the Financial Conduct Authority (FCA) since 2014. Crowdfunding is also a Regulated Activity and is subject to FCA rules.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 12/10/2015 14:17:54 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

1611271

	registered interest
	date	17/04/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, when the Government plans to deliver a consolidated tape of pre- and post-trade market data as considered in the Edinburgh Reforms.
	tabling member constituency	Vale of Glamorgan
	tabling member printed	Alun Cairns
	uin	180900
	answer	answer is ministerial correction date of answer 25/04/2023 answer text <p>As set out in the Chancellor’s Edinburgh Reforms statement, the government has committed to having a regime for a UK consolidated tape in place by 2024.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 25/04/2023 11:24:44 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4086 label Biography information for Alun Cairns

532364

	registered interest
	date	04/07/2016
	answering body	Department for Education
	answering dept id	60
	answering dept short name	Education
	answering dept sort name	Education
	hansard heading	Financial Services: Regulation
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government how many institutions received degree-awarding powers in (1) England, and (2) the UK, between (a) 1986 and 2000, and (b) 2001 and 2015.
	tabling member printed	Baroness Wolf of Dulwich
	uin	HL961
	answer	answer is ministerial correction date of answer 25/07/2016 answer text <p>As this is a devolved matter, we can only answer regarding the institutions that received degree awarding powers in England. These figures are based on the information available to us.</p><p> </p><p>(1a) Between 1986 and 2000 in England, 48 institutions were awarded degree awarding powers. At this time there was no distinction between taught and research degree awarding powers, and foundation degree awarding powers were not yet introduced.</p><p>(1b) Between 2001 and 2015 in England, 42 institutions were awarded taught degree awarding powers and 4 institutions were awarded foundation degree awarding powers. 8 institutions also added research degree awarding powers to their pre-existing awards of taught degree awarding powers. 46 institutions in total were awarded degree awarding powers.</p> answering member printed Lord Nash question first answered 25/07/2016 12:30:31 answering member 4270 label Biography information for Lord Nash
	tabling member	4347 label Biography information for Baroness Wolf of Dulwich

584018

	registered interest
	date	15/09/2016
	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	Financial Services: Regulation
	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 assessment he has made of the Financial Reporting Council's ability to work with other financial regulators in the UK to address the systematic financial risk of climate change.
	tabling member constituency	Brent North
	tabling member printed	Barry Gardiner
	uin	46611
	answer	answer is ministerial correction date of answer 10/10/2016 answer text <p>Although the Financial Reporting Council’s remit does not extend to the systemic financial risks of climate change, I am confident of its ability to collaborate effectively with any financial regulators, as required, within whose remit such risks fall.</p> answering member constituency Stourbridge answering member printed Margot James question first answered 10/10/2016 15:27:13 answering member 4115 label Biography information for Margot James
	tabling member	146 label Biography information for Barry Gardiner

1174282

	registered interest
	date	29/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans his Department has to strengthen financial regulations in response to the case of Isabel dos Santos.
	tabling member constituency	Ceredigion
	tabling member printed	Ben Lake
	uin	9762
	answer	answer is ministerial correction date of answer 03/02/2020 answer text <p>HM Treasury is responsible for the Money Laundering Regulations 2017 (‘the Regulations’). The Regulations set out the high-level requirements on regulated firms to combat money laundering and ensure that key professionals identify their customers and understand the purpose behind transactions, including the source of funds. The Regulations are designed to combat illicit finance, while minimising the burden on legitimate customers.</p><p> </p><p>The Regulations include requirements for firms in scope to have in place appropriate risk-management systems and procedures to determine whether a customer is a Politically Exposed Person (PEP), and conduct an appropriate range of Enhanced Due Diligence (EDD) measures. PEPs can pose a high money laundering risk because they may be able to abuse their position for private gain.</p><p> </p><p>The Financial Conduct Authority (FCA) is the anti-money laundering supervisor for financial services firms in the UK; it regularly takes action against firms who fail to meet their obligations under the Regulations. In 2015, the FCA fined Barclays Bank £72,069,400 for failing to conduct enhanced due diligence on a £1.88 billion transaction involving PEPs.</p><p> </p><p>The UK has been recognised as world leading in its response to economic crime. In 2018, the Financial Action Task Force found that the UK had one of the strongest systems for combatting money laundering and terrorist financing of over 60 countries it has assessed to date.</p> answering member constituency Salisbury answering member printed John Glen question first answered 03/02/2020 13:04:19 answering member 4051 label Biography information for John Glen
	tabling member	4630 label Biography information for Ben Lake

1542135

	registered interest
	date	15/11/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to improve the regulatory framework for the financial services sector.
	tabling member constituency	Harrow East
	tabling member printed	Bob Blackman
	uin	902262
	answer	answer is ministerial correction date of answer 15/11/2022 answer text <p>The Financial Services and Markets Bill seizes the opportunities of Brexit, tailoring financial services regulation to UK markets to bolster our competitiveness and deliver better outcomes for consumers and businesses.</p><p>The Bill implements the outcomes of the Future Regulatory Framework Review, revoking retained EU law, so it can be replaced with an approach designed for the UK.</p><p>The Bill introduces secondary growth and competitiveness objectives and measures to ensure clear accountability, appropriate democratic input, and transparent oversight of the regulators.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 15/11/2022 15:25:50 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4005 label Biography information for Bob Blackman

720972

	registered interest
	date	13/04/2017
	answering body	Department for Exiting the European Union
	answering dept id	203
	answering dept short name	Exiting the European Union
	answering dept sort name	Exiting the European Union
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Exiting the European Union, what discussions he has had on financial regulation after the UK leaves the EU with representatives of (a) the British Virgin Islands, (b) the Cayman Islands and (c) Bermuda.
	tabling member constituency	Hornsey and Wood Green
	tabling member printed	Catherine West
	uin	70353
	answer	answer is ministerial correction date of answer 20/04/2017 answer text <p>The UK Government is committed to involving the Overseas Territories as we prepare to exit the EU, and ensuring their interests are properly taken into account.</p><p>UK Ministers and leaders of the Overseas Territories have committed to taking forward future engagement through the creation of the UK – Overseas Territories Joint Ministerial Council (JMC) on European Negotiations.</p><p>The JMC met for the first time on 6-7 February 2017, chaired jointly by Robin Walker, Parliamentary Under-Secretary of State at the Department for Exiting the European Union, and Foreign Office Minister Baroness Anelay and discussed the interests of the Overseas Territories. The Premiers of Bermuda, the Cayman Islands and the British Virgin Islands were present. The UK's commitment to financial transparency was reiterated at the meeting.</p><p>As we approach our negotiations with the European Union we will go on working closely with the Overseas Territories, helping to ensure that we get a deal that works for everyone.</p><p> </p> answering member constituency Worcester answering member printed Mr Robin Walker question first answered 20/04/2017 16:20:53 answering member 4091 label Biography information for Mr Robin Walker
	tabling member	4523 label Biography information for Catherine West

1551092

	registered interest
	date	13/12/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Regulation
	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 impact on financial stability of the proposals to amend regulation of the financial sector announced in Edinburgh on 9th December 2022.
	tabling member constituency	Warrington North
	tabling member printed	Charlotte Nichols
	uin	109751
	answer	answer is ministerial correction date of answer 19/12/2022 answer text <p>The Edinburgh Reforms, launched by the Chancellor on 9 December, take forward the government’s ambition for the UK to be the world’s most innovative and competitive global financial centre.</p><p> </p><p>The government’s approach recognises and protects the foundations on which the UK’s success as a financial services hub is built: agility, consistently high regulatory standards, and openness. This approach will continue to ensure that the sector is resilient and able to support economic growth, while ensuring consumers and citizens benefit from high-quality services, appropriate consumer protection, and a sector that embraces the latest technology.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/12/2022 14:18:40 answering member 4051 label Biography information for John Glen
	tabling member	4799 label Biography information for Charlotte Nichols

752529

	registered interest
	date	17/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment the Government has made of the merits of bringing the asset management industry into the Financial Conduct Authority's regulatory remit.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	5321
	answer	answer is ministerial correction date of answer 21/07/2017 answer text <p>The Financial Conduct Authority (FCA) is responsible for the prudential and conduction regulation for UK asset managers and UK authorised funds.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 21/07/2017 12:40:07 answering member 4095 label Biography information for Steve Barclay
	tabling member	4124 label Biography information for Chi Onwurah