{ "format" : "linked-data-api", "version" : "0.2", "result" : {"_about" : "http://eldaddp.azurewebsites.net/answeredquestions.text?legislature.prefLabel=House+of+Lords&creator.label=Biography+information+for+Lord+Myners&answer.answeringMember.label=Biography+information+for+Lord+Young+of+Cookham", "definition" : "http://eldaddp.azurewebsites.net/meta/answeredquestions.text?legislature.prefLabel=House+of+Lords&creator.label=Biography+information+for+Lord+Myners&answer.answeringMember.label=Biography+information+for+Lord+Young+of+Cookham", "extendedMetadataVersion" : "http://eldaddp.azurewebsites.net/answeredquestions.text?legislature.prefLabel=House+of+Lords&_metadata=all&creator.label=Biography+information+for+Lord+Myners&answer.answeringMember.label=Biography+information+for+Lord+Young+of+Cookham", "first" : "http://eldaddp.azurewebsites.net/answeredquestions.text?_page=0&legislature.prefLabel=House+of+Lords&creator.label=Biography+information+for+Lord+Myners&answer.answeringMember.label=Biography+information+for+Lord+Young+of+Cookham", "hasPart" : "http://eldaddp.azurewebsites.net/answeredquestions.text?legislature.prefLabel=House+of+Lords&creator.label=Biography+information+for+Lord+Myners&answer.answeringMember.label=Biography+information+for+Lord+Young+of+Cookham", "isPartOf" : "http://eldaddp.azurewebsites.net/answeredquestions.text?legislature.prefLabel=House+of+Lords&creator.label=Biography+information+for+Lord+Myners&answer.answeringMember.label=Biography+information+for+Lord+Young+of+Cookham", "items" : [{"_about" : "http://data.parliament.uk/resources/1141932", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141932/answer", "answerText" : {"_value" : "
The Financial Conduct Authority (FCA) is responsible for the authorisation and regulation of peer to peer (P2P) platforms, and is currently carrying out an enforcement investigation into the circumstances that led to the administration of Lendy. It would be inappropriate for Government to pre-empt its findings.<\/p>
<\/p>
The FCA is operationally independent from Government. The question as it relates to the FCA 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-08-06", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-06T13:36:33.113Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-07-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Lendy"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government what steps they took to stop Lendy from declaring dividends to pay capital to that firm\u2019s owners when Lendy was under review by the Financial Conduct Authority (FCA); and whether the FCA intends to compensate any lenders who did not receive full remediation payments as a result of a shortfall in capital.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL17476"} , {"_about" : "http://data.parliament.uk/resources/1141933", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141933/answer", "answerText" : {"_value" : "
Following the suspension of the Woodford Equity Income Fund (WEIF), HM Treasury has discussed the liquidity rules for UK UCITS funds with the Financial Conduct Authority (FCA), which is responsible for the ongoing supervision and regulation of the UK\u2019s financial services sector, including investment funds.<\/p>
<\/p>
The FCA have launched an investigation into the events leading up to the suspension of the WEIF. The investigation will determine the facts of the case, including whether any rules have been broken, and inform any future decision on whether rule changes are required.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-08-06", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-06T13:37:13.733Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-07-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Financial Services"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government what assessment, if any, they have made of the case for specifying a higher liquidity test for UK-managed Undertakings for Collective Investment in Transferable Securities than is required by EU Directive 2009/65/EC; and what discussions they have had with the Financial Conduct Authority about that test.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL17477"} , {"_about" : "http://data.parliament.uk/resources/1141934", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141934/answer", "answerText" : {"_value" : "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."} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-08-06", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-06T13:37:27.17Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-07-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Banks: Loans"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL17478"} , {"_about" : "http://data.parliament.uk/resources/1141550", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141550/answer", "answerText" : {"_value" : "
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 & 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>
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\u2019s failure.<\/p>
<\/p>
Under the terms of the Economic Secretary\u2019s 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-08-06", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-06T13:32:53.057Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-07-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Financial Conduct Authority"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL17418"} , {"_about" : "http://data.parliament.uk/resources/1141551", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141551/answer", "answerText" : {"_value" : "
London Capital and Finance plc (LCF) are a firm that issued mini-bonds, that entered administration on 30 January 2018. On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at LCF, and approved the FCA\u2019s appointment of Dame Elizabeth Gloster to lead it.<\/p>
<\/p>
Lendy Limited and Collateral (UK) Limited are peer to peer (P2P) platforms authorised by the FCA and subject to FCA rules.<\/p>
<\/p>
The operationally independent FCA\u2019s 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, or that of the investigation of the events at LCF.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-08-06", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-06T13:34:42.713Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-07-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Financial Institutions: Insolvency"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government whether they have identified any features in common in the cases of London Capital and Finance, Lendy Limited and Collateral (UK) Limited that require a change in regulation, law or process.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL17419"} , {"_about" : "http://data.parliament.uk/resources/1141552", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141552/answer", "answerText" : {"_value" : "
The Government monitors the development of the peer to peer (P2P) sector and engages regularly with P2P platforms and the Financial Conduct Authority (FCA), who are responsible for the regulation of the sector. This requires platforms to be authorised by the FCA and subject to FCA rules governing, among other areas, how they handle client money and promote themselves to consumers, and capital requirements.<\/p>
<\/p>
The regulatory status of Collateral (UK) Ltd, and the events which led to its register entry appearing to show that it held an interim permission, when it did not, are matters the FCA is investigating as they may involve fraud or misconduct by persons connected with the firm who may have misused the register. In order to avoid prejudicing any proceedings which may arise from the investigation, the FCA are unable to provide further details of how they believe the change to the register came about.<\/p>
<\/p>
The Financial Conduct Authority (FCA) is operationally independent from Government. These questions relate to the FCA and have been passed on to them. 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-08-06", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "HL17421"} , {"_value" : "HL17422"} , {"_value" : "HL17423"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-06T13:35:40.027Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-07-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Collateral (UK)"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government when they first became aware that Collateral (UK) Limited was acting without authorisation from the Financial Conduct Authority (FCA); and why that company was allowed to take new client money without advising clients that the firm was not authorised by the FCA.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL17420"} , {"_about" : "http://data.parliament.uk/resources/1141553", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141553/answer", "answerText" : {"_value" : "
The Government monitors the development of the peer to peer (P2P) sector and engages regularly with P2P platforms and the Financial Conduct Authority (FCA), who are responsible for the regulation of the sector. This requires platforms to be authorised by the FCA and subject to FCA rules governing, among other areas, how they handle client money and promote themselves to consumers, and capital requirements.<\/p>
<\/p>
The regulatory status of Collateral (UK) Ltd, and the events which led to its register entry appearing to show that it held an interim permission, when it did not, are matters the FCA is investigating as they may involve fraud or misconduct by persons connected with the firm who may have misused the register. In order to avoid prejudicing any proceedings which may arise from the investigation, the FCA are unable to provide further details of how they believe the change to the register came about.<\/p>
<\/p>
The Financial Conduct Authority (FCA) is operationally independent from Government. These questions relate to the FCA and have been passed on to them. 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-08-06", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "HL17420"} , {"_value" : "HL17422"} , {"_value" : "HL17423"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-06T13:35:40.073Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-07-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Collateral (UK)"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government whether they or the Financial Conduct Authority (FCA) have investigated the change of name on the FCA register of authorised parties of Regal Pawnbrokers Limited to Collateral (UK) Limited; whether they identified any concerns about that change in respect of Collateral (UK) Limited; and if so, when.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL17421"} , {"_about" : "http://data.parliament.uk/resources/1141554", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141554/answer", "answerText" : {"_value" : "
The Government monitors the development of the peer to peer (P2P) sector and engages regularly with P2P platforms and the Financial Conduct Authority (FCA), who are responsible for the regulation of the sector. This requires platforms to be authorised by the FCA and subject to FCA rules governing, among other areas, how they handle client money and promote themselves to consumers, and capital requirements.<\/p>
<\/p>
The regulatory status of Collateral (UK) Ltd, and the events which led to its register entry appearing to show that it held an interim permission, when it did not, are matters the FCA is investigating as they may involve fraud or misconduct by persons connected with the firm who may have misused the register. In order to avoid prejudicing any proceedings which may arise from the investigation, the FCA are unable to provide further details of how they believe the change to the register came about.<\/p>
<\/p>
The Financial Conduct Authority (FCA) is operationally independent from Government. These questions relate to the FCA and have been passed on to them. 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-08-06", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "HL17420"} , {"_value" : "HL17421"} , {"_value" : "HL17423"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-06T13:35:40.103Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-07-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Collateral (UK)"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government whether any action was taken to protect (1) documents of, and (2) client money in, Collateral (UK) Limited when they were made aware that that firm was acting without the authorisation of the Financial Conduct Authority; and if not, why not.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL17422"} , {"_about" : "http://data.parliament.uk/resources/1141555", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141555/answer", "answerText" : {"_value" : "
The Government monitors the development of the peer to peer (P2P) sector and engages regularly with P2P platforms and the Financial Conduct Authority (FCA), who are responsible for the regulation of the sector. This requires platforms to be authorised by the FCA and subject to FCA rules governing, among other areas, how they handle client money and promote themselves to consumers, and capital requirements.<\/p>
<\/p>
The regulatory status of Collateral (UK) Ltd, and the events which led to its register entry appearing to show that it held an interim permission, when it did not, are matters the FCA is investigating as they may involve fraud or misconduct by persons connected with the firm who may have misused the register. In order to avoid prejudicing any proceedings which may arise from the investigation, the FCA are unable to provide further details of how they believe the change to the register came about.<\/p>
<\/p>
The Financial Conduct Authority (FCA) is operationally independent from Government. These questions relate to the FCA and have been passed on to them. 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-08-06", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "HL17420"} , {"_value" : "HL17421"} , {"_value" : "HL17422"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-06T13:35:40.15Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-07-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Collateral (UK)"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government whether they were aware that Collateral (UK) Limited advertised itself as having interim authorisation from the Financial Conduct Authority (FCA) when this was not the case; whether the FCA has taken any action against that firm, its shareholders or directors; and what assessment they have made of whether that firm continued to raise money from investors after the Government were made aware of it falsifying its authorisation.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL17423"} , {"_about" : "http://data.parliament.uk/resources/1141173", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141173/answer", "answerText" : {"_value" : "
Investment fund suspensions arise when demand for redemptions exceeds the liquidity in the fund. To service these redemptions, a fund may need to sell assets at a depressed market value, to the detriment of investors, while selling only the liquid assets could result in a fund breaching its investment mandate and possibly FCA rules. The Government recognises that fund suspensions can thereby act to protect the interests of investors in the fund.<\/p>
<\/p>
The Financial Conduct Authority (FCA) is responsible for the ongoing supervision and regulation of the UK\u2019s financial services sector, including investment funds. The FCA\u2019s detailed rule book ensures that firms treat their customer fairly, and its robust supervision and enforcement powers mean it can, and does, take action where a firm breaches the rules. Whether or not there has been any breach of regulatory requirements relating to UK funds and any possible investigation would be a matter for the FCA.<\/p>
<\/p>
In circumstances where an investment fund is domiciled outside of the UK, the supervision of its compliance with applicable rules, such as the UCITS Directive, is a matter for the home state regulator.<\/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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-08-05", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-05T12:01:44.223Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-07-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "H2O Asset Management"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government, further to the Written Answers by Lord Young of Cookham on 15 July (HL16842 and HL16843), whether they will now answer the questions put.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL17356"} ], "itemsPerPage" : 10, "next" : "http://eldaddp.azurewebsites.net/answeredquestions.text?_page=1&legislature.prefLabel=House+of+Lords&creator.label=Biography+information+for+Lord+Myners&answer.answeringMember.label=Biography+information+for+Lord+Young+of+Cookham", "page" : 0, "startIndex" : 1, "totalResults" : 59, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }