http://www.jmlsg.org.uk/<\/a><\/p> <\/p>
Discussions of the proposed Fourth Money Laundering Directive are continuing. The expectation is that in accordance with the updated global standards adopted by the Financial Action Task Force, domestic Politically Exposed Persons, including UK Parliamentarians may, on a risk-based assessment, be subject to enhanced due diligence.<\/p>
<\/p>
<\/p>
The Treasury expects that if the Directive is adopted and transposed into UK law, UK anti-money laundering guidance will need to be revised.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4262", "label" : {"_value" : "Biography information for Lord Deighton"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Deighton"}
, "dateOfAnswer" : {"_value" : "2014-07-10", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-07-10T14:32:58.2494806Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2014-06-30", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Money Laundering"}
, "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 Answer by Lord Deighton on 17 June (WA 42), whether the current industry guidance, which has been approved by Treasury Ministers, has yet been issued; whether a risk-based approach under the Fourth Money Laundering Directive means that in the United Kingdom, United Kingdom parliamentarians will be treated as politically exposed persons; and, if so, whether the industry guidance will need to be revised.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3396", "label" : {"_value" : "Biography information for Lord Clement-Jones"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Clement-Jones"}
], "uin" : "HL705"}
, {"_about" : "http://data.parliament.uk/resources/64623", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/64623/answer", "answerText" : {"_value" : "
It is likely that any eventual FTT directive will be significantly different to, and narrower than, the current draft proposal. We will assess any revised proposal carefully against our concerns.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4262", "label" : {"_value" : "Biography information for Lord Deighton"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Deighton"}
, "dateOfAnswer" : {"_value" : "2014-07-10", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-07-10T14:33:24.2794481Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2014-06-30", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Financial Services: Taxation"}
, "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 they have made of the eventual cost to HM Treasury of the European Union's proposed financial transaction tax should it be enforced in the United Kingdom.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3153", "label" : {"_value" : "Biography information for Lord Pearson of Rannoch"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Pearson of Rannoch"}
], "uin" : "HL706"}
, {"_about" : "http://data.parliament.uk/resources/64624", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/64624/answer", "answerText" : {"_value" : "
The Alternative Investment Fund Managers Directive (AIFMD) entered into force on 22 July 2013.<\/p>
<\/p>
Costs or benefits to the Exchequer as a result of the AIFMD will result from commercial decisions that have yet to be taken by investment management firms as to whether the regulatory cost of doing business in the UK against other jurisdictions leads them to increase or decrease their activity here. Therefore no reliable assessment can be made at this time. Nevertheless the Government will continue to monitor the effects of AIFMD on the UK investment management industry.<\/p>
<\/p>
The Government has worked closely with industry to ensure that the requirements of AIFMD have been applied in as proportionate manner as possible so as to cause minimal disruption to UK firms and to maintain the UK's competitive status as a global fund management centre.<\/p>
<\/p>
<\/p>
An impact assessment estimating the costs to UK business was published alongside the implementing regulations. It is publically available on the www.legislation.gov.uk website.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4262", "label" : {"_value" : "Biography information for Lord Deighton"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Deighton"}
, "dateOfAnswer" : {"_value" : "2014-07-10", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-07-10T14:34:25.0941145Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2014-06-30", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Financial Services: EU Action"}
, "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 they have made of the eventual cost to HM Treasury of the European Union's proposed Alternative Investment Fund Managers' Directive should it be enforced in the United Kingdom.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3153", "label" : {"_value" : "Biography information for Lord Pearson of Rannoch"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Pearson of Rannoch"}
], "uin" : "HL707"}
, {"_about" : "http://data.parliament.uk/resources/64625", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/64625/answer", "answerText" : {"_value" : "
The Prospectus Directive 2003/71/EC was proposed by the European Commission on 30 May 2001. The Directive was published in the Official Journal of the European Union on 31 December 2003 and was transposed into UK law before entering into force on 1 July 2005.<\/p>
<\/p>
The Prospectus Directive was updated by the Amending Directive 2010/73/EU on 11 December 2010. The Amending Directive was transposed into UK law in The Prospectus Regulations 2012.<\/p>
<\/p>
<\/p>
The Government published an Impact Assessment, which covers costs, alongside the Explanatory Memorandum to these Regulations. It is publically available on the www.legislation.gov.uk website.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4262", "label" : {"_value" : "Biography information for Lord Deighton"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Deighton"}
, "dateOfAnswer" : {"_value" : "2014-07-10", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-07-10T14:36:59.8004624Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2014-06-30", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Financial Services: EU Action"}
, "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 they have made of the eventual cost to HM Treasury of the European Union's proposed Prospectus Directive should it be enforced in the United Kingdom.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3153", "label" : {"_value" : "Biography information for Lord Pearson of Rannoch"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Pearson of Rannoch"}
], "uin" : "HL708"}
, {"_about" : "http://data.parliament.uk/resources/64626", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/64626/answer", "answerText" : {"_value" : "
The \u2018bonus cap' provisions of the Capital Requirements Directive came into force at the beginning of 2014. Given this short time period, an estimate of the Exchequer impact of the cap cannot be made.<\/p>
<\/p>
<\/p>
The \u2018bonus cap' was introduced by the European Parliament into the CRD4 package without an appropriate economic impact assessment. This is part of the reason the UK is challenging this measure in the European Court of Justice.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4262", "label" : {"_value" : "Biography information for Lord Deighton"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Deighton"}
, "dateOfAnswer" : {"_value" : "2014-07-10", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-07-10T14:37:25.0979097Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2014-06-30", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Banks: Pay"}
, "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 they have made of the eventual cost to HM Treasury of the European Union's proposed bonus caps should it be enforced in the United Kingdom.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3153", "label" : {"_value" : "Biography information for Lord Pearson of Rannoch"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Pearson of Rannoch"}
], "uin" : "HL709"}
, {"_about" : "http://data.parliament.uk/resources/64627", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/64627/answer", "answerText" : {"_value" : "
There is no proposed ban on short selling of securities so it is not possible for the Government to assess the costs.<\/p>
<\/p>
<\/p>
The Short Selling Regulation, which came into force on 1 November 2012, is an EU-wide Regulation that lays down a common regulatory framework for powers and requirements related to the short selling of securities. In particular, it gives powers to the Financial Conduct Authority (FCA) to ban or impose restrictions on short selling of securities in certain circumstances, as well as impose the requirement on investors to disclose net short positions (both publicly, and privately to the FCA).<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4262", "label" : {"_value" : "Biography information for Lord Deighton"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Deighton"}
, "dateOfAnswer" : {"_value" : "2014-07-10", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-07-10T14:38:20.0733604Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2014-06-30", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Financial Services: EU Action"}
, "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 they have made of the eventual cost to HM Treasury of the European Union's proposed ban on short selling should it be enforced in the United Kingdom.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3153", "label" : {"_value" : "Biography information for Lord Pearson of Rannoch"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Pearson of Rannoch"}
], "uin" : "HL710"}
, {"_about" : "http://data.parliament.uk/resources/64628", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/64628/answer", "answerText" : {"_value" : "
The Government cannot opine on the potential cost of the ECB's location policy if enforced in the UK, until the Court of the European Union has ruled on this matter in a legal challenge brought by the UK.<\/p>
<\/p>
<\/p>
The UK has brought this challenge because, if imposed, the policy would require UK-based and other non-Eurozone CCPs to relocate to the Euro area. We believe this breaches principles of EU law and the Single Market.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4262", "label" : {"_value" : "Biography information for Lord Deighton"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Deighton"}
, "dateOfAnswer" : {"_value" : "2014-07-10", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-07-10T14:38:55.7910559Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2014-06-30", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Financial Services: EU Action"}
, "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 they have made of the eventual cost to HM Treasury of the European Union's proposed restriction of euroclearing to eurozone clearing houses should it be enforced in the United Kingdom.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3153", "label" : {"_value" : "Biography information for Lord Pearson of Rannoch"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Pearson of Rannoch"}
], "uin" : "HL711"}
, {"_about" : "http://data.parliament.uk/resources/64637", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/64637/answer", "answerText" : {"_value" : "
The Government notes the judgment in which the Supreme Court upheld an individual's right to rescind a contract of sale and a related credit agreement. The Government believes that existing consumer credit law adequately protects individuals in this regard.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4117", "label" : {"_value" : "Biography information for Andrea Leadsom"}
}
, "answeringMemberConstituency" : {"_value" : "South Northamptonshire"}
, "answeringMemberPrinted" : {"_value" : "Andrea Leadsom"}
, "dateOfAnswer" : {"_value" : "2014-07-07", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-07-07T15:14:39.8798331Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2014-06-30", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Consumers: Protection"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask Mr Chancellor of the Exchequer, what consideration he has given to the decision of the Supreme Court in the case of Durkin v DSG Retail Limited and another and its effect on existing consumer law.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/570", "label" : {"_value" : "Biography information for Mr Frank Doran"}
}
, "tablingMemberConstituency" : {"_value" : "Aberdeen North"}
, "tablingMemberPrinted" : [{"_value" : "Mr Frank Doran"}
], "uin" : "202977"}
, {"_about" : "http://data.parliament.uk/resources/64656", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/64656/answer", "answerText" : {"_value" : "
The Government takes the enforcement of the National Minimum Wage (NMW) very seriously. HMRC review every complaint that is referred to them by the Pay and Work Rights Helpline. In addition, by collating and analysing data received from various sources, HMRC ensure targeted enforcement through robust risk assessment processes to identify employers across the United Kingdom who are more likely to be not paying NMW.<\/p>
<\/p>
I would refer the hon. Member to the answer I gave on 6 May 2014, Official Report, Column 111W, that HMRC deploys resources to risk, so work relating to a specific geographical area is not always undertaken by the NMW team based in that area.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1529", "label" : {"_value" : "Biography information for Mr David Gauke"}
}
, "answeringMemberConstituency" : {"_value" : "South West Hertfordshire"}
, "answeringMemberPrinted" : {"_value" : "Mr David Gauke"}
, "dateOfAnswer" : {"_value" : "2014-07-10", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-07-10T16:07:43.1392484Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2014-06-30", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Minimum Wage: Scotland"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 10 April 2013, Official Report, column 1177W, on minimum wage: Scotland, how many staff were in the national minimum wage team monitoring Scotland at the most recent date in 2014 for which records are available.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3909", "label" : {"_value" : "Biography information for Pamela Nash"}
}
, "tablingMemberConstituency" : {"_value" : "Airdrie and Shotts"}
, "tablingMemberPrinted" : [{"_value" : "Pamela Nash"}
], "uin" : "203022"}
, {"_about" : "http://data.parliament.uk/resources/64657", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/64657/answer", "answerText" : {"_value" : "
I have been asked to respond on behalf of the Department for Business, Innovation and Skills.<\/p>
Calls to the Pay and Work Rights Helpline are as follows:<\/p>