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1141934
star this property registered interest false more like this
star this property date less than 2019-07-24more like thismore than 2019-07-24
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Banks: Loans more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether they or the Prudential Regulation Authority monitor loans by smaller banks to related parties; and what assessment, if any, they have made of how Wyelands Bank complies in this respect with regulatory limits. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL17478 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-08-06more like thismore than 2019-08-06
star this property answer text This is a matter for the Prudential Regulation Authority (PRA), which is operationally independent from Government. The question has been passed on to the PRA. The PRA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House. more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-08-06T13:37:27.17Zmore like thismore than 2019-08-06T13:37:27.17Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
star this property tabling member
3869
star this property label Biography information for Lord Myners remove filter
1141550
star this property registered interest false more like this
star this property date less than 2019-07-23more like thismore than 2019-07-23
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Financial Conduct Authority more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what tests they apply to determine whether an investigation into the Financial Conduct Authority (FCA) meets the standard required to be described as independent of the FCA; and what assessment they have made of whether FCA employees acting for an investigation compromises its independence. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL17418 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-08-06more like thismore than 2019-08-06
star this property answer text <p>Where such investigations are conducted, HM Treasury take steps to ensure their independence which is crucial to the integrity of their conclusions. For example, in the recent case of the events surrounding the failure of London Capital &amp; Finance plc (LCF), and following a request from the Financial Conduct Authority (FCA), the Economic Secretary to the Treasury required that an independent investigation be carried out under powers in section 77 of the Financial Services Act 2012.</p><p> </p><p>The Economic Secretary approved the appointment of Dame Elizabeth Gloster, an experienced QC and Judge at the High Court and Court of Appeal, to lead it. Prior to this approval, potential conflicts of interest were investigated and HM Treasury is satisfied that Dame Elizabeth is independent from the FCA, HM Treasury and the companies and individuals associated with LCF’s failure.</p><p> </p><p>Under the terms of the Economic Secretary’s Direction to the FCA, Dame Elizabeth has the discretion to appoint a team which is entirely independent of the FCA. A process is now underway to appoint an independent legal team to support Dame Elizabeth in her investigation. The FCA is also under a duty to facilitate the disclosure to Dame Elizabeth any information that she deems relevant to the scope of her investigation. Should Dame Elizabeth wish to raise any matters directly to HM Treasury, she can do so at any time, under the terms of the Direction, via an interim report.</p>
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-08-06T13:32:53.057Zmore like thismore than 2019-08-06T13:32:53.057Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
star this property tabling member
3869
star this property label Biography information for Lord Myners remove filter
1140034
star this property registered interest false more like this
star this property date less than 2019-07-17more like thismore than 2019-07-17
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Lendy: Insolvency more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government, further to the Written Answer by Lord Young of Cookham on 19 June (HL16113), what discussions they have had with the Financial Conduct Authority about the case for that body to conduct an investigation into its decision to authorise Lendy when it had concerns about that firm’s compliance with minimum regulatory standards and the adequacy of disclosure to lenders; and what assessment they have made of the case for any such investigation to include whether any investors in Lendy (1) suffered losses as a result of that authorisation, and (2) are entitled to compensation from the FCA or another institution. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL17269 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-07-23more like thismore than 2019-07-23
star this property answer text <p>Treasury Ministers and officials have regular meetings with a wide variety of organisations in the public and private sectors, including the Financial Conduct Authority (FCA).</p><p> </p><p>The operationally independent FCA’s investigation into the circumstances that led to the administration of Lendy is ongoing, and it would be inappropriate for Government to pre-empt its findings.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-07-23T11:10:37.227Zmore like thismore than 2019-07-23T11:10:37.227Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
star this property tabling member
3869
star this property label Biography information for Lord Myners remove filter
1122917
star this property registered interest false more like this
star this property date less than 2019-04-24more like thismore than 2019-04-24
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Asset Life more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether they, or the Financial Conduct Authority, are investigating the activities of Asset Life and the suitability of its directors. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL15308 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-05-08more like thismore than 2019-05-08
star this property answer text <p>This question has been passed on to the Financial Conduct Authority (FCA). The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-05-08T12:55:24.3Zmore like thismore than 2019-05-08T12:55:24.3Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
star this property tabling member
3869
star this property label Biography information for Lord Myners remove filter
1130845
star this property registered interest false more like this
star this property date less than 2019-06-10more like thismore than 2019-06-10
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Lendy more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether, when authorising Lendy, the Financial Conduct Authority (FCA) considered the company to be (1) an agent, or (2) a principal, in the relationship between the lender or borrower; or whether the FCA took no view on this matter. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16212 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-24more like thismore than 2019-06-24
star this property answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-06-24T13:56:52.107Zmore like thismore than 2019-06-24T13:56:52.107Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
star this property tabling member
3869
star this property label Biography information for Lord Myners remove filter
1131477
star this property registered interest false more like this
star this property date less than 2019-06-11more like thismore than 2019-06-11
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Financial Services more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what discussions they have had with the Financial Conduct Authority about establishing an independent review into the (1) role of corporate directors of open-ended investment funds, (2) limitations placed on unlisted and illiquid investments in such funds, and (3) systemic risks arising from daily dealing in the units of investment funds. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16271 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-24more like thismore than 2019-06-24
star this property answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-06-24T15:31:06.62Zmore like thismore than 2019-06-24T15:31:06.62Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
star this property tabling member
3869
star this property label Biography information for Lord Myners remove filter
1140491
star this property registered interest false more like this
star this property date less than 2019-07-18more like thismore than 2019-07-18
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Financial Services more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether they have ever formally reviewed the case for the UK establishing its own requirements for liquidity standards for Undertakings for the Collective Investment in Transferable Securities at higher levels than specified by EU Directives; or whether the UK is currently bound by EU rules and cannot introduce higher standards. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL17324 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-07-23more like thismore than 2019-07-23
star this property answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-07-23T11:17:13.213Zmore like thismore than 2019-07-23T11:17:13.213Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
star this property tabling member
3869
star this property label Biography information for Lord Myners remove filter
1141175
star this property registered interest false more like this
star this property date less than 2019-07-22more like thismore than 2019-07-22
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Lendy more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government, further to the Financial Conduct Authority's (FCA) letter as part of the Written Answer by Lord Young of Cookham on 24 June (HL16212), whether the FCA was (1) informed, or (2) otherwise aware, that investors via Lendy Limited were creditors to a peer-to-peer platform; and whether such information could have been determined from the accounts of Lendy Limited. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL17358 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-08-05more like thismore than 2019-08-05
star this property answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-08-05T12:02:13.007Zmore like thismore than 2019-08-05T12:02:13.007Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
star this property tabling member
3869
star this property label Biography information for Lord Myners remove filter
1124419
star this property registered interest false more like this
star this property date less than 2019-05-01more like thismore than 2019-05-01
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading London Capital and Finance: Insolvency more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether Treasury ministers or officials have been in discussions with the Financial Conduct Authority (FCA) about the establishment by the latter of an independent review into the FCA’s supervision of London Capital &amp; Finance; and why the terms of reference of the review and the identity of the independent reviewer have not yet been published. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL15468 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-05-15more like thismore than 2019-05-15
star this property answer text <p>This Government takes the failure of London Capital &amp; Finance (LCF) and its impact on consumers very seriously. The independent investigation will seek to better understand the circumstances around the collapse of LCF and make sure we are properly protecting those who invest their money in the future.</p><p>It is essential that the terms of the investigation are set in a way that ensures these objectives are met and take into account any issues arising from current regulatory and enforcement investigations. HM Treasury officials are working to develop these with the relevant bodies as a matter of priority. Further details on this investigation, including the appointment of the independent investigator, will be published shortly.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-05-15T11:31:21.033Zmore like thismore than 2019-05-15T11:31:21.033Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
star this property tabling member
3869
star this property label Biography information for Lord Myners remove filter
1135749
star this property registered interest false more like this
star this property date less than 2019-07-01more like thismore than 2019-07-01
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading H2O Asset Management more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether they intend to conduct, or commission, an investigation into the management of investment portfolios by H2O Asset Management with particular reference to (1) the valuation of unlisted investments, and (2) the accuracy and completeness of statements by that firm’s management of the "gating" of future redemptions. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16842 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-07-15more like thismore than 2019-07-15
star this property answer text <p>There is no requirement for asset management firms to discuss their specific investment strategies with either HM Treasury or the FCA.</p><p> </p><p>The overarching regulatory framework for UK UCITS funds comprises EU and UK legislation and Financial Conduct Authority (FCA) rules.</p><p> </p><p>The FCA is responsible for the supervision of UK funds including UCITS, and have a broad suite of supervisory and investigative powers. For example, the FCA is required to approve the investment objective and policy of UK domiciled funds, as well as statements in the prospectus about the application of investment limits, and firms are required to treat customers fairly.</p><p> </p><p>In circumstances where a UCITS fund is domiciled outside of the UK, the supervision of its compliance with applicable UCITS investment restrictions is a matter for the home state regulator.</p><p> </p><p>If individuals have concerns about their investments, they should speak to their advisor or platform. If individuals have purchased units in a fund directly, they should speak with the relevant firm.</p>
star this property answering member printed Lord Young of Cookham more like this
star this property grouped question UIN HL16843 more like this
star this property question first answered
less than 2019-07-15T14:03:24.2Zmore like thismore than 2019-07-15T14:03:24.2Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
star this property tabling member
3869
star this property label Biography information for Lord Myners remove filter