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1059214

registered interest
date	11/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Investment: Property
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to ensure that the risk balance of portfolios of open-ended property funds are not, and will not be, distorted by favouring redeeming investors.
tabling member printed	Lord Myners
uin	HL13600
answer	answer is ministerial correction date of answer 20/02/2019 answer text <p>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 Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Bates question first answered 20/02/2019 12:39:08 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners

1059215

registered interest
date	11/02/2019
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Honours Forfeiture Committee
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government on how many occasions the Honours Forfeiture Committee met in each of the last eight calendar years; and when that committee last met.
tabling member printed	Lord Myners
uin	HL13601
answer	answer is ministerial correction date of answer 20/02/2019 answer text <p>Prior to 2017, the Forfeiture Committee met to consider cases on an ad-hoc basis, or by correspondence as business required. The Committee now only meets formally and in person. Since 2017 has met on three occasions, and it last met in September 2018.</p> answering member printed Lord Young of Cookham question first answered 20/02/2019 13:53:44 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

1052390

registered interest
date	31/01/2019
answering body	Department for Digital, Culture, Media and Sport
answering dept id	10
answering dept short name	Digital, Culture, Media and Sport
answering dept sort name	Digital, Culture, Media and Sport
hansard heading	Evening Standard
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they were advised of the change in ownership of Lebedev Holdings and the grant of an option to acquire the Evening Standard and a board seat at that newspaper.
tabling member printed	Lord Myners
uin	HL13335
answer	answer is ministerial correction date of answer 14/02/2019 answer text <p>I refer the noble Lord to the answer to WPQ 218767 from 13th February by the Secretary of State.</p> answering member printed Lord Keen of Elie question first answered 14/02/2019 12:24:33 answering member 4538 label Biography information for Lord Keen of Elie
tabling member	3869 label Biography information for Lord Myners

1047842

registered interest
date	24/01/2019
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Patisserie Valerie: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they have instructed the Insolvency Service to review matters relating to Patisserie Valerie and its ownership; and if not, why not.
tabling member printed	Lord Myners
uin	HL13120
answer	answer is ministerial correction date of answer 05/02/2019 answer text <p>When a company enters administration, the administrators have to report to my rt. hon. Friend the Secretary of State for Business, Energy and Industrial Strategy on the conduct of the directors.</p><p> </p><p>In the case of Patisserie Valerie the Insolvency Service will be making early contact with the administrators and other authorities to discuss the directors’ conduct, and to consider whether further steps, such as a detailed investigation, may be necessary.</p><p> </p> answering member printed Lord Henley question first answered 05/02/2019 12:41:35 answering member 2616 label Biography information for Lord Henley
tabling member	3869 label Biography information for Lord Myners

1045450

registered interest
date	21/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Advisory Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they are taking steps to contact all members of the public who have taken pensions advice from Financial Conduct Authority (FCA) regulated pensions advisers who have had their authorisations revoked or have been otherwise instructed to cease giving pensions advice; if not, why not; and whether each case is being individually reviewed by the FCA.
tabling member printed	Lord Myners
uin	HL12986
answer	answer is ministerial correction date of answer 04/02/2019 answer text <p>The Government is committed to working with the Financial Conduct Authority (FCA) to ensure consumers have access to high quality financial advice. The FCA, as the independent financial services regulator, has responsibility for ensuring that the financial advice market works well, competitively and fairly.</p><p> </p><p>The FCA conducts investigations into firms in relation to pension transfer advice. If this work results in formal action the FCA publicly sets out their detailed findings on those firms responsible for serious failings and ensures affected customers are aware.</p><p> </p><p>In cases where the FCA suspects serious misconduct may have occurred and harm needs to be prevented immediately, as a first step the FCA may also ask firms voluntarily to accept a variation of permission or the imposition of a requirement (VREQ). Typically, when the FCA uses this power it will be displayed on the FCA’s Financial Services Register which is free to access and publicly available. Through their work on pension transfers advice, they identified a number of firms which gave cause for concern. This resulted in VREQs being put in place.</p> answering member printed Lord Bates question first answered 04/02/2019 14:49:19 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners

1041223

registered interest
date	14/01/2019
answering body	Ministry of Housing, Communities and Local Government
answering dept id	7
answering dept short name	Housing, Communities and Local Government
answering dept sort name	Housing, Communities and Local Government
hansard heading	Local Government: Investment
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they monitor (1) investments made in commercial real estate by local authorities financed by the Public Loans Board, (2) the location of such real estate, and (3) the consequences of local authorities assuming the associated risk.
tabling member printed	Lord Myners
uin	HL12805
answer	answer is ministerial correction date of answer 28/01/2019 answer text <p>The decision making process for capital investment and borrowing decisions is a local authority decision. The Ministry for Housing, Communities and Local Government is responsible for the overall framework for local authority capital activity which local authorities operate within. This would include investments in commercial real estate.</p><p>Government does not routinely monitor specific investments that local authorities make in commercial real estate, this includes those that are financed by loans from the Public Works Loan Board. Therefore, we do not collect any information on the location of any real estate investments made by local authorities.</p><p>The Statutory Guidance on Investments was recently updated by the Ministry for Housing, Communities and Local Government and took effect from 1st April 2018. It was updated to ensure that the framework that local authorities operate within reflects the activities of the sector. One of the key aims of the recent changes to the Statutory Guidance was to enhance requirements of transparency and risk management for all investments including those in real estate.</p><p>In addition local authorities must ensure that all of their activities are managed well financially. This includes the legal requirement to have regard for best value. This means that a council must make arrangements to continuously improve the way its functions are exercised and have regard to economy, efficiency and effectiveness.</p> answering member printed Lord Bourne of Aberystwyth question first answered 28/01/2019 16:50:45 answering member 4282 label Biography information for Lord Bourne of Aberystwyth
tabling member	3869 label Biography information for Lord Myners

1036901

registered interest
date	07/01/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
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 cost to public expenditure of repatriating to the UK customers of Monarch Airlines; and what contribution to this cost they are seeking to reclaim from the airline's owners, investors, and associates.
tabling member printed	Lord Myners
uin	HL12543
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>In October 2017, the Government estimated that the total cost of Monarch’s repatriation operation would be £60m. The actual cost of repatriation is estimated to be about £50m and the Government does not expect this number to change significantly.</p><p> </p><p>As the administration of Monarch has yet to conclude, the Department continues to discuss contributions from the travel industry and the investors and estate of the company towards taxpayers costs.</p> answering member printed Baroness Sugg question first answered 21/01/2019 17:50:24 answering member 4584 label Biography information for Baroness Sugg
tabling member	3869 label Biography information for Lord Myners

1036902

registered interest
date	07/01/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Railways: Franchises
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 use of auctions to award rail franchises; and whether they intend to use the same process to award future franchises.
tabling member printed	Lord Myners
uin	HL12544
answer	answer is ministerial correction date of answer 17/01/2019 answer text <p>The Williams Rail Review is looking at the current franchising system and considering how it can best support the public and private sector to work together, while delivering benefits for passengers, freight and taxpayers.</p><p> </p><p>The Department will publish a White Paper on the review’s recommendations, with the implementation of reforms planned to start from 2020. Whilst the Review is underway, we will continue to work closely with the industry to ensure that rail delivers the day-to-day performance and transformational improvements that passengers expect.</p><p> </p> answering member printed Baroness Sugg question first answered 17/01/2019 13:28:43 answering member 4584 label Biography information for Baroness Sugg
tabling member	3869 label Biography information for Lord Myners

1036903

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Investment: Property
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they intend to take to investigate the operation of real estate investment funds, in particular (1) the property valuations used by these funds, (2) whether fund investors and redeemers are treated equally, and (3) the calculation of fund management fees.
tabling member printed	Lord Myners
uin	HL12545
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>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 Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Bates question first answered 21/01/2019 15:39:18 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners

1036905

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Unions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to support and enable the growth of credit unions.
tabling member printed	Lord Myners
uin	HL12547
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector.</p><p> </p><p>At Autumn Budget 2018, the Chancellor announced a two-year pilot of a new prize-linked savings scheme offered through credit unions. This will support the credit union sector through increased membership, awareness and deposits, as well as encouraging participants to build up savings to help them cope with financial shocks.</p><p> </p><p>The Chancellor also announced a new £2 million challenge fund to promote innovative solutions from the UK’s Fintech sector to address challenges faced by social and community lenders, including credit unions. This follows the success of last year’s Rent Recognition Challenge, where UK Fintechs were invited to develop digital solutions for incorporating rental data into credit scores.</p> answering member printed Lord Bates question first answered 21/01/2019 15:38:44 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners