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1051490

registered interest
date	30/01/2019
answering body	Home Office
answering dept id	1
answering dept short name	Home Office
answering dept sort name	Home Office
hansard heading	Overseas Loans: Mozambique
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for the Home Department, pursuant to the Answer of 28 January to Question 210062 on Loans: Mozambique, whether UK authorities plan to take action under the 2010 Bribery Act in relation to the allegations of K-based banks role in the $2 billion of loans to three state-owned companies in Mozambique.
tabling member constituency	Liverpool, Walton
tabling member printed	Dan Carden
uin	214663
answer	answer is ministerial correction date of answer 08/02/2019 answer text <p>As stated in the Answer of 28 January to Question 210062, the relevant UK authorities have considered the allegations against UK-based banks for undisclosed loans to three state owned enterprises in Mozambique and have offered assistance to Mozambique in relation to their investigations.</p><p>Any action to be taken pursuant to investigations, including under the 2010 Bribery Act, will be a matter for law enforcement authorities. The Government does not comment on law enforcement action for live investigations.</p> answering member constituency Wyre and Preston North answering member printed Mr Ben Wallace question first answered 08/02/2019 12:10:23 answering member 1539 label Biography information for Mr Ben Wallace
tabling member	4651 label Biography information for Dan Carden

1051487

registered interest
date	30/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Overseas Loans: Mozambique
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 28th January to Question 210062 on Loans: Mozambique, what information UK-based lenders to foreign governments have to disclose and to whom under UK prudential disclosure requirements.
tabling member constituency	Liverpool, Walton
tabling member printed	Dan Carden
uin	214660
answer	answer is ministerial correction date of answer 07/02/2019 answer text <p>UK-based lenders are subject to extensive prudential disclosure requirements under UK law, including for loans made to Governments. The Capital Requirements Regulation requires firms to disclose the geographic distribution of their credit exposures, including those to central banks and governments. These are only required to be disclosed if the loans are material, in accordance with European Banking Authority guidelines. Similarly, the geographical distribution will be broken down to show the areas for which there are material exposures. Lending to a specific country may not be disclosed specifically as lending to that country’s government if it makes up a relatively small amount of the firm’s activity. Instead, the lending would be grouped together with other small exposures to foreign governments under ‘other’ categories.</p><p> </p><p>It is firms’ responsibility to ensure adequate assurance over their disclosures and they are required to have policies for assessing the appropriateness of their disclosures, including their verification and frequency.</p><p> </p><p>Firms’ compliance with disclosure guidelines will generally be subject to review from their Internal Audit function. As the relevant competent authority, the Prudential Regulation Authority (PRA) takes a risk-based approach to supervision, which will affect whether each individual firm’s disclosures are subject to a compliance review.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 214661 214662 question first answered 07/02/2019 15:43:14 answering member 4051 label Biography information for John Glen
tabling member	4651 label Biography information for Dan Carden

1051488

registered interest
date	30/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Overseas Loans: Mozambique
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 28 January to Question 210062 on Loans: Mozambique, who conducts the independent assessment of compliance with those requirements; and where those assessments are published.
tabling member constituency	Liverpool, Walton
tabling member printed	Dan Carden
uin	214661
answer	answer is ministerial correction date of answer 07/02/2019 answer text <p>UK-based lenders are subject to extensive prudential disclosure requirements under UK law, including for loans made to Governments. The Capital Requirements Regulation requires firms to disclose the geographic distribution of their credit exposures, including those to central banks and governments. These are only required to be disclosed if the loans are material, in accordance with European Banking Authority guidelines. Similarly, the geographical distribution will be broken down to show the areas for which there are material exposures. Lending to a specific country may not be disclosed specifically as lending to that country’s government if it makes up a relatively small amount of the firm’s activity. Instead, the lending would be grouped together with other small exposures to foreign governments under ‘other’ categories.</p><p> </p><p>It is firms’ responsibility to ensure adequate assurance over their disclosures and they are required to have policies for assessing the appropriateness of their disclosures, including their verification and frequency.</p><p> </p><p>Firms’ compliance with disclosure guidelines will generally be subject to review from their Internal Audit function. As the relevant competent authority, the Prudential Regulation Authority (PRA) takes a risk-based approach to supervision, which will affect whether each individual firm’s disclosures are subject to a compliance review.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 214660 214662 question first answered 07/02/2019 15:43:14 answering member 4051 label Biography information for John Glen
tabling member	4651 label Biography information for Dan Carden

1051489

registered interest
date	30/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Overseas Loans: Mozambique
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 28 January to Question 210062 on Loans: Mozambique, whether those prudential disclosure requirements were complied with in the case of the $2 billion of loans from UK-based banks to three state owned companies in Mozambique.
tabling member constituency	Liverpool, Walton
tabling member printed	Dan Carden
uin	214662
answer	answer is ministerial correction date of answer 07/02/2019 answer text <p>UK-based lenders are subject to extensive prudential disclosure requirements under UK law, including for loans made to Governments. The Capital Requirements Regulation requires firms to disclose the geographic distribution of their credit exposures, including those to central banks and governments. These are only required to be disclosed if the loans are material, in accordance with European Banking Authority guidelines. Similarly, the geographical distribution will be broken down to show the areas for which there are material exposures. Lending to a specific country may not be disclosed specifically as lending to that country’s government if it makes up a relatively small amount of the firm’s activity. Instead, the lending would be grouped together with other small exposures to foreign governments under ‘other’ categories.</p><p> </p><p>It is firms’ responsibility to ensure adequate assurance over their disclosures and they are required to have policies for assessing the appropriateness of their disclosures, including their verification and frequency.</p><p> </p><p>Firms’ compliance with disclosure guidelines will generally be subject to review from their Internal Audit function. As the relevant competent authority, the Prudential Regulation Authority (PRA) takes a risk-based approach to supervision, which will affect whether each individual firm’s disclosures are subject to a compliance review.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 214660 214661 question first answered 07/02/2019 15:43:14 answering member 4051 label Biography information for John Glen
tabling member	4651 label Biography information for Dan Carden

1092180

registered interest
date	20/03/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Overseas Loans: Mozambique
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 progress of investigations by UK authorities into alleged financial crimes related to $2 billion in loans arranged by London branches of Credit Suisse and VTB to Proindicus, Ematum Mozambique Asset Management in Mozambique.
tabling member constituency	Birmingham, Hall Green
tabling member printed	Mr Roger Godsiff
uin	234659
answer	answer is ministerial correction date of answer 28/03/2019 answer text <p>The relevant UK authorities have considered the allegations against UK-based banks and have offered assistance to Mozambique in relation to their investigations. The Treasury is not in a position to comment on any criminal investigations by law enforcement authorities.</p><p> </p><p>Separate to any criminal investigation, the Financial Conduct Authority is currently progressing a regulatory investigation into Credit Suisse’s systems and controls concerning and relating to the loans it provided to the Mozambique government.</p> answering member constituency Salisbury answering member printed John Glen question first answered 28/03/2019 11:16:48 answering member 4051 label Biography information for John Glen
tabling member	304 label Biography information for Mr Roger Godsiff