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79717

registered interest
date	28/07/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Debts
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 effectiveness of regulation of debt management companies.
tabling member printed	Lord Kennedy of Southwark
uin	HL1609
answer	answer is ministerial correction date of answer 11/08/2014 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market, including the debt management industry, by transferring regulation from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) on 1 April 2014.</p><p> </p><p>The Government welcomes the binding rules the FCA has placed on debt management firms, including new prudential and client money requirements to better protect consumers’ money.</p><p> </p><p>Under the new regime the FCA has robust powers to protect borrowers – there is no limit to the fines which the FCA can levy and it can require firms to provide redress to consumers.</p><p> </p><p>The FCA will thoroughly assess every debt management firm’s fitness to trade as part of the authorisation process. The debt management industry has been called forward first for authorisation, from this October.</p><p> </p><p> </p> answering member printed Lord Deighton question first answered 11/08/2014 11:58:15 answering member 4262 label Biography information for Lord Deighton
tabling member	4153 label Biography information for Lord Kennedy of Southwark

79718

registered interest
date	28/07/2014
answering body	Department for Culture Media and Sport
answering dept id	10
answering dept short name	Culture, Media and Sport
answering dept sort name	Culture, Media and Sport
hansard heading	Telephone Preference Service
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what plans they have to review the effectiveness of the Telephone Preference Service.
tabling member printed	Lord Kennedy of Southwark
uin	HL1610
answer	answer is ministerial correction date of answer 18/08/2014 answer text <p>Whilst we have no such plans in place I am pleased to note that Ofcom and the Information Commissioner’s Office published new consumer research on the effectiveness of the Telephone Preference Service (TPS) on 24 July 2014. This independent research showed that registering with the TPS reduced all types nuisance calls, including live sales calls, recorded messages and silent and abandoned calls by around a third. The full Ofcom report can be accessed at: <a href="http://stakeholders.ofcom.org.uk/market-data-research/other/telecoms-research/tps-effectiveness/" target="_blank">http://stakeholders.ofcom.org.uk/market-data-research/other/telecoms-research/tps-effectiveness/</a></p><p> </p><p>As noted in our Nuisance Calls Action Plan of March this year we are keen to improve the enforcement of the existing regulations as we believe this will further increase the effectiveness of the TPS.</p><p> </p> answering member printed Baroness Northover question first answered 18/08/2014 09:49:34 answering member 2539 label Biography information for Baroness Northover
tabling member	4153 label Biography information for Lord Kennedy of Southwark

79719

registered interest
date	28/07/2014
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Debts: Advisory Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what further plans they have to support charities and other organisations that seek to help people in financial difficulty.
tabling member printed	Lord Kennedy of Southwark
uin	HL1611
answer	answer is ministerial correction date of answer 11/08/2014 answer text <p>The Government is committing to supporting charities working with the vulnerable and disadvantaged, including those supporting people in financial difficulty.</p><p>For example, Cabinet Office has contributed over £32 million towards the Big Lottery Fund’s Advice Service Transition Fund. This fund is supporting many not-for-profit advice providers working with individuals in financial difficulty. We have also convened an Affordable Lending Steering Group, working to address the barriers that limit community lenders’ ability to provide services to those in need.</p><p> </p><p> </p><p> </p> answering member printed Lord Wallace of Saltaire question first answered 11/08/2014 11:12:19 answering member 1816 label Biography information for Lord Wallace of Saltaire
tabling member	4153 label Biography information for Lord Kennedy of Southwark