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1314148

registered interest
date	12/05/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Government Assistance
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether (1) HSBC, (2) Standard Charter, (3) Jardine Matheson, or (4) the Swire Group, have benefited from (a) the Coronavirus Job Retention Scheme, (b) the Recovery Loan Scheme, (c) the COVID-19 Corporate Financing Facility provided by the Bank of England, or (d) business rates relief.
tabling member printed	Lord Alton of Liverpool
uin	HL130
answer	answer is ministerial correction date of answer 26/05/2021 answer text <p>For claims since 1 December 2020, HMRC publishes information about employers who claim through the Coronavirus Job Retention Scheme (CJRS) on a monthly basis, on gov.uk.</p><p> </p><p>The Recovery Loan Scheme (RLS) launched on 6 April 2021 and is administered by the British Business Bank via a diverse network of accredited commercial lenders, of which HSBC are one.</p><p> </p><p>None of these firms are or have previously been listed in the Bank of England’s published data on firms with outstanding commercial paper in the COVID-19 Corporate Financing Facility (CCFF). This data is available on the Bank of England’s website.</p><p> </p><p>The Government has also provided business rates relief to eligible properties in the retail, hospitality and leisure sectors, and nurseries. It is for local authorities to determine eligibility for reliefs having regard to guidance issued by the Government. Central government does not hold any information on which businesses are in receipt of relief.</p> answering member printed Lord Agnew of Oulton question first answered 26/05/2021 15:15:53 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	738 label Biography information for Lord Alton of Liverpool

1314180

registered interest
date	12/05/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies: Carbon Emissions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the environmental impact of cryptocurrencies on companies trying to achieve carbon neutral status.
tabling member printed	Lord Mendelsohn
uin	HL175
answer	answer is ministerial correction date of answer 19/05/2021 answer text <p>The Government has been monitoring developments within the cryptoasset industry, including rising energy usage.</p><p>The Government has already taken action to ensure the UK is the world-leading centre for green finance including through announcing an intention to make disclosures aligned with the Taskforce on Climate-related Financial Disclosures (TCFD) fully mandatory across the economy by 2025, making the UK the first country to do so.</p><p>Additionally, the Government has committed to the implementation of a green taxonomy. This will allow us to accelerate our work towards a greener financial sector, by providing a common definition for environmentally sustainable economy activities.</p><p>The Government’s private finance objective for the upcoming COP26 climate change forum is to ensure that every professional financial decision takes climate change into account. The recovery from COVID-19 will determine the mitigation and adaptation pathways for decades to come.</p><p>The finance campaign will provide the conditions for a future that is genuinely greener, more resilient and more sustainable than the past. Action on finance underpins all the other COP campaigns: adaptation and resilience, energy transition, nature and zero-emission vehicles. Without the right levels of finance, the rest is not possible.</p><p>The Cryptoasset Taskforce, comprising HM Treasury, the Financial Conduct Authority, and the Bank of England, considers the impact of cryptoassets and assesses what, if any, regulation is required in response. The Government stands ready to respond to emerging risks or changes in the market and will continue to monitor developments in cryptoassets.</p> answering member printed Lord Agnew of Oulton grouped question UIN HL178 question first answered 19/05/2021 13:28:15 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4286 label Biography information for Lord Mendelsohn

1314188

registered interest
date	12/05/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the report by Monveo The Banks and the Fintechs: Creating Better Banking Together, published on 11 May; and what steps they are taking to encourage banks to partner with Fintech companies.
tabling member printed	Lord Taylor of Warwick
uin	HL197
answer	answer is ministerial correction date of answer 19/05/2021 answer text <p>The report highlights how collaboration between banks and fintechs can deliver a wide range of innovative products and services for consumers.</p><p> </p><p>The Government is committed to retaining the UK’s position at the global cutting edge of fintech. In line with this, the Government last year commissioned the independent Kalifa Review of UK Fintech; this Review was published in February and made important recommendations for the continued success of UK fintech; the Government has set out to Parliament the actions that it and the financial regulators are taking against these recommendations.</p><p> </p><p>The Kalifa Review highlighted the value of partnerships between banks and fintechs in both improving financial services for consumers, and supporting fintechs to scale. The Government recognises that combining the fintech sector’s strengths in innovation and agility, with the strengths of large financial services institutions, has the potential to deliver better products and services for a larger number of businesses and customers.</p><p> </p><p>That is why the Government has strongly supported initiatives such as the Fintech Pledge. The Pledge is the first initiative of its kind globally and is a commitment from signatory banks to provide increased transparency and guidance to support fintechs in navigating their onboarding processes. The Pledge has signatories from various leading financial services institutions, including the UK’s five largest banks.</p> answering member printed Lord Agnew of Oulton question first answered 19/05/2021 13:26:45 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1314206

registered interest
date	12/05/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies: Environment Protection
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what estimate they have made of the environmental impact of cryptocurrencies.
tabling member printed	Lord Mendelsohn
uin	HL178
answer	answer is ministerial correction date of answer 19/05/2021 answer text <p>The Government has been monitoring developments within the cryptoasset industry, including rising energy usage.</p><p>The Government has already taken action to ensure the UK is the world-leading centre for green finance including through announcing an intention to make disclosures aligned with the Taskforce on Climate-related Financial Disclosures (TCFD) fully mandatory across the economy by 2025, making the UK the first country to do so.</p><p>Additionally, the Government has committed to the implementation of a green taxonomy. This will allow us to accelerate our work towards a greener financial sector, by providing a common definition for environmentally sustainable economy activities.</p><p>The Government’s private finance objective for the upcoming COP26 climate change forum is to ensure that every professional financial decision takes climate change into account. The recovery from COVID-19 will determine the mitigation and adaptation pathways for decades to come.</p><p>The finance campaign will provide the conditions for a future that is genuinely greener, more resilient and more sustainable than the past. Action on finance underpins all the other COP campaigns: adaptation and resilience, energy transition, nature and zero-emission vehicles. Without the right levels of finance, the rest is not possible.</p><p>The Cryptoasset Taskforce, comprising HM Treasury, the Financial Conduct Authority, and the Bank of England, considers the impact of cryptoassets and assesses what, if any, regulation is required in response. The Government stands ready to respond to emerging risks or changes in the market and will continue to monitor developments in cryptoassets.</p> answering member printed Lord Agnew of Oulton grouped question UIN HL175 question first answered 19/05/2021 13:28:15 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4286 label Biography information for Lord Mendelsohn

1314215

registered interest
date	12/05/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Kuflink
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government on what dates the tripartite meetings between the Financial Conduct Authority, directors of Kuflink Ltd and related entities, and their auditors took place; and what was discussed at each such meeting.
tabling member printed	Lord Sikka
uin	HL188
answer	answer is ministerial correction date of answer 26/05/2021 answer text 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 the noble Lord by letter. A copy of the letter will be placed in the Library of the House. answering member printed Lord Agnew of Oulton question first answered 26/05/2021 15:16:33 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4885 label Biography information for Lord Sikka

1314216

registered interest
date	12/05/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Kuflink
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government when the Prudential Regulation authority carried out capital adequacy tests on Kuflink Ltd and related entities; and what was the outcome of those tests.
tabling member printed	Lord Sikka
uin	HL189
answer	answer is ministerial correction date of answer 19/05/2021 answer text <p>As you may be aware, Kufflink Ltd is not a regulated deposit taking firm, i.e. a bank, and hence are not regulated by the Prudential Regulation Authority. Peer to peer firms are instead regulated by the Financial Conduct Authority (FCA), which in this instance extends to rules regarding capital requirements.</p><p>The FCA is an independent non-governmental body responsible for regulating and supervising the financial services industry. Although the Treasury sets the legal framework for the regulation of financial services, it has strictly limited powers in relation to the FCA. In particular, the Treasury has no general power of direction over the FCA and therefore it is not appropriate to request information regarding capital adequacy tests of individual firms.</p> answering member printed Lord Agnew of Oulton question first answered 19/05/2021 13:27:37 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4885 label Biography information for Lord Sikka

1313698

registered interest
date	11/05/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Change and Innovation in the Unsecured Credit Market Review
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to implement the recommendations made by the Financial Conduct Authority in The Woolard Review - A review of change and innovation in the unsecured credit market, published on 2 February.
tabling member printed	Baroness Ritchie of Downpatrick
uin	HL90
answer	answer is ministerial correction date of answer 20/05/2021 answer text <p>The Government has welcomed The Woolard Review – A review of change and innovation in the unsecured credit market. The review will contribute to the evidence base to inform the Government’s future decisions in relation to this market.</p><p> </p><p>The review made recommendations to the Financial Conduct Authority (FCA), including many calling for the FCA to work closely with government. The FCA has stated that it supports the recommendations directed to the FCA and will build these recommendations into their forthcoming Business Plan, as one driver of their priorities for 2021-22.</p><p> </p><p>While many of the recommendations are for the FCA and are, as the review acknowledges, longer-term recommendations there was one recommendation relating to Buy-Now-Pay-Later which required urgent Government action.</p><p> </p><p>We have already responded to this recommendation. On 2 February the Government announced it would legislate to regulate interest-free Buy-Now-Pay-Later agreements, and these agreements will be regulated by the FCA. On 17 March, the Government tabled an amendment to the Financial Services Bill to provide the Government with the powers to ensure a proportionate approach to this regulation. The Government will bring forward secondary legislation to bring currently unregulated Buy-Now-Pay-Later products into regulation when Parliamentary time allows. The final approach to regulation will be determined following public consultation.</p> answering member printed Lord Agnew of Oulton question first answered 20/05/2021 14:59:09 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

1313701

registered interest
date	11/05/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts: Advisory Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, further to the findings in the Christian’s Against Poverty’s Our Story, Client Report 2021, published in April, that 45 per cent of clients did not initially know where to access help to manage their debts, what plans they have to better (1) signpost, and (2) raise awareness of, debt advice services as part of the recovery from COVID-19.
tabling member printed	The Lord Bishop of St Albans
uin	HL93
answer	answer is ministerial correction date of answer 20/05/2021 answer text <p>The Government recognises that some people are struggling with their personal finances as the impact of the COVID-19 pandemic continues to unfold. The Government is committed to helping people access the support they need to get their finances back on track. This is why it has agreed to maintain record levels of debt advice funding for the Money and Pension Service (MaPS) in 2021/22, bringing the budget for free debt advice in England to £94.6 million, an increase of over 70% compared to 2019/20 levels.</p><p>Support from MaPS is available to all online, and the website includes a debt advice locator tool to help people find local free advice services. MaPS also launched a Money Navigator Tool last year, promoted via various channels, which helps people navigate their finances during the pandemic and avoid financial issues worsening in future.</p><p>To ensure that people are signposted to the help they need, MaPS services are referenced in the Financial Conduct Authority’s (FCA) guidance, which is issued to all financial services lenders regulated by the FCA. Further, MaPS-funded free-to-client debt advice service providers have been pro-actively reaching out to customers during the pandemic, including by using video-calls and webchat to offer broader ways for clients to engage.</p><p>In addition, the MaPS-led Pilot of Adviser Capacity and Efficiency (PACE) was launched in March 2019, offering a new route into debt advice. This pro-actively engages people by working closely with creditors, who introduce those who are missing payments to the service and promote the benefits of seeking help. In addition to creditor referrals, MaPS launched a self-referral route into PACE in November 2019 to engage with customers directly. The pilot’s evaluation is ongoing, and MaPS will move successful elements of the work to full-scale from this Autumn.</p> answering member printed Lord Agnew of Oulton question first answered 20/05/2021 14:58:49 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4308 label Biography information for The Lord Bishop of St Albans

1312579

registered interest
date	28/04/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money Laundering and Terrorist Financing (Amendment) (High Risk Countries) Regulations 2021
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they are reviewing the decision not to include Russia in Schedule 3ZA of High-Risk Third Countries in the Money Laundering and Terrorist Financing (Amendment) (High Risk Countries) Regulations 2021; and if not, why not.
tabling member printed	Lord Robathan
uin	HL15339
answer	answer is ministerial correction date of answer 29/04/2021 answer text <p>It has not proved possible to respond to this question in the time available before Prorogation. The Minister will write directly to the Member with a response shortly.</p><p> </p> answering member printed Lord Agnew of Oulton question first answered 29/04/2021 11:15:18 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	334 label Biography information for Lord Robathan

1312584

registered interest
date	28/04/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Greensill: Administration
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the financial impact of the administration of (1) Greensill Capital (UK) Limited, and (2) Greensill Capital Management Company (UK) Limited, upon entities regulated and authorised by the (a) Financial Conduct Authority, and (b) Prudential Regulation Authority.
tabling member printed	Lord Sikka
uin	HL15344
answer	answer is ministerial correction date of answer 29/04/2021 answer text <p>It has not proved possible to respond to this question in the time available before Prorogation. The Minister will write directly to the Member with a response shortly.</p><p> </p> answering member printed Lord Agnew of Oulton question first answered 29/04/2021 11:15:09 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4885 label Biography information for Lord Sikka