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1468560

	registered interest
	date	08/06/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Advisory Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what measures his Department has in place to help ensure unregulated financial advisors cannot provide financial advice on pensions.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	14520
	answer	answer is ministerial correction date of answer 13/06/2022 answer text <p>The Government is committed to ensuring that consumers can access high-quality, affordable and suitable financial advice, as well as free-to-access financial guidance, when they need it.</p><p> </p><p>HM Treasury works closely with the Financial Conduct Authority (FCA), who are the independent regulator of the financial advice market, to ensure that this market works well, competitively and fairly for both firms and consumers, and that the advice being provided is of high quality.</p><p> </p><p>Individuals who provide advice on pensions need to be authorised by the FCA and have the appropriate qualifications, including an additional qualification if the advice involves a transfer from a defined benefit pension.</p><p> </p><p>The FCA can take action through the courts against firms or individuals who carry out regulated activity without authorisation. Consumers may also report any concerns through the FCA’s ScamSmart website (https://www.fca.org.uk/scamsmart).</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2022 13:35:52 answering member 4051 label Biography information for John Glen
	tabling member	4470 label Biography information for Alan Brown

1434595

	registered interest
	date	23/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Guaranteed Minimum Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many people have had their guaranteed minimum pensions reduced in financial year 2021-22 following reviews by HMRC in (a) Scotland and (b) the rest of the UK.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	128322
	answer	answer is ministerial correction date of answer 03/03/2022 answer text <p>HMRC do not hold the information requested.</p><p> </p><p>Pension Scheme Administrators (PSAs) can compare the Guaranteed Minimum Pension (GMP) value they hold against HMRC records using the online GMP Checker Service held on GOV.UK. However, if the information held by HMRC indicates to PSAs that its records are incorrect and a lower amount is payable than is in payment, it doesn’t mean that the scheme needs to reduce the pension in payment. This is a decision for the pension scheme.</p><p> </p><p>It is the responsibility of pension schemes and employers to maintain records of their pension scheme memberships and administer their members or employees’ pensions. It is for the pension provider to calculate and make the correct payments to individuals.</p> answering member constituency Salisbury answering member printed John Glen question first answered 03/03/2022 14:19:33 answering member 4051 label Biography information for John Glen
	tabling member	4470 label Biography information for Alan Brown

1422684

	registered interest
	date	18/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services Compensation Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what discussions he has had with representatives of the Financial Conduct Authority on its 2021 consultation on proposals to ban claim management companies from handling FSCS claims where they had a relevant connection to the claim.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	125296
	answer	answer is ministerial correction date of answer 28/02/2022 answer text <p>Consumers should have confidence that firms are acting in their best interests when using claims management companies (CMCs) to help them obtain compensation. The Government welcomes the FCA’s consultation on proposals to prevent the practice of ‘phoenixing’, which intend to ensure that CMCs are not seeking to profit from past misconduct of individuals connected with the CMC. The Government looks forward to the outcome of the FCA’s consultation.</p> answering member constituency Salisbury answering member printed John Glen question first answered 28/02/2022 15:15:15 answering member 4051 label Biography information for John Glen
	tabling member	4470 label Biography information for Alan Brown

1139296

	registered interest
	date	16/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Government Securities: Islam
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to his Mansion House dinner speech on 20 June 2019, what his timeframe is for his Department to issue a second sovereign sukuk; and if he will make a statement.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	277780
	answer	answer is ministerial correction date of answer 22/07/2019 answer text <p>Over the coming weeks the relevant teams at HM Treasury will work with the Debt Management Office and other officials on formulating the procurement process for the appointment of structuring and legal advisers. A specific timetable has not yet been determined for this. Further announcements, including on the timing of the issuance, will be made in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 277615 question first answered 22/07/2019 13:58:59 answering member 4051 label Biography information for John Glen
	tabling member	4470 label Biography information for Alan Brown

1139297

	registered interest
	date	16/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Islam
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment the Government has made of the potential merits of using sukuk to finance infrastructure projects; and if he will make a statement.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	277781
	answer	answer is ministerial correction date of answer 22/07/2019 answer text The proceeds from the Sukuk, like the proceeds from the wider gilt programme, flow into the consolidated fund. This is used for general expenditure, including expenditure on infrastructure. The government considers the core gilt program rather than the Sukuk to be the most cost-effective way of raising money for expenditure, including that of infrastructure projects. The main purpose behind the decision to issue a second Sukuk is to reaffirm the government’s commitment to the UK being the Western hub for Islamic finance, whilst also providing high-quality liquid assets to UK-based Islamic banks. answering member constituency Salisbury answering member printed John Glen grouped question UIN 277616 question first answered 22/07/2019 14:01:35 answering member 4051 label Biography information for John Glen
	tabling member	4470 label Biography information for Alan Brown