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1005780

	registered interest
	date	12/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: EU Law
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 6 November 2018 to Question 187143 on EU Internal Trade, how his Department plans to transpose provisions from EU law into UK law involving thresholds measuring the proportion of the entire market or a specified number of grouping of member states, in the Markets in Financial Instruments Regulations Article (a) 5(1)(a) and 1(b), subparagraphs (3) to (6) and subparagraph (9), (b) Article 9(5), (c) Article 14(5) and (d) Article 36(5) in the event that the UK leaves the EU without a deal.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	type	WrittenParliamentaryQuestion
	uin	190537
	answer	answer is ministerial correction date of answer 15/11/2018 answer text <p>Article 5(1)(a) and 1(b), subparagraphs (3) to (6) and subparagraph (9) in the Markets in Financial Instruments Regulations will become deficient after the UK’s exit from the EU. In the event of the UK leaving the EU without a deal, it will be amended in accordance with Regulation 27(2) of the draft Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018.</p><p> </p><p>Article 9(5) will become deficient after the UK’s exit from the EU. In the event of the UK leaving the EU without a deal it will be amended in accordance with Regulation 27(4) of the draft Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018.</p><p> </p><p>Article 36 specifies a threshold which is expressed as an absolute number, so this will not be deficient after exit and is therefore not being amended.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/11/2018 15:48:31 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

1005783

	registered interest
	date	12/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: EU Law
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 6 November 2018 to Question 187143 on EU Internal Trade, how his Department plans to transpose provisions from EU law into UK law involving thresholds measuring the proportion of the entire market or a specified number of grouping of member states, in Articles 12 to 16 of the Commission Delegated Regulation amending MiFID 565/2017 in the event that the UK leaves the EU without a deal.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	type	WrittenParliamentaryQuestion
	uin	190540
	answer	answer is ministerial correction date of answer 15/11/2018 answer text <p>Articles 12 to 16 of the Commission Delegated Regulation amending MiFID 565/2017 will become deficient after the UK’s exit from the EU. In the event of the UK leaving the EU without a deal, it will be amended in accordance with Regulation 40 of the draft Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/11/2018 15:52:12 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

1005784

	registered interest
	date	12/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: EU Law
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of his Department's written answer to parliamentary question 187143, how his Department plans to transpose provisions from EU law into UK law involving thresholds measuring the proportion of the entire market or a specified number of grouping of member states, in Article 5(1)(a) and (b)) of the Commission Delegated Regulation 2017/567 in the event that the UK leaves the EU without a deal.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	type	WrittenParliamentaryQuestion
	uin	190541
	answer	answer is ministerial correction date of answer 15/11/2018 answer text <p>Article 5(1)(a) and (b)) of the Commission Delegated Regulation 2017/567 will become deficient after the UK’s exit from the EU. In the event of the UK leaving the EU without a deal, it will be amended in accordance with Regulation 59(2) of the draft Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/11/2018 15:54:33 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

1006115

	registered interest
	date	13/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Ombudsman Service
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the Financial Ombudsman's Annual Report 2017-18, for what reasons the Financial Ombudsman upheld the lowest rate of complaints in the last 10 years in 2017-2018.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	type	WrittenParliamentaryQuestion
	uin	190951
	answer	answer is ministerial correction date of answer 19/11/2018 answer text <p>This is a matter for the Financial Ombudsman Service (FOS), which is independent from Government. The FOS will respond to the Honourable Member by letter, and a copy of the letter will be placed in the Library of the House of Commons.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 19/11/2018 15:54:36 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

1007163

	registered interest
	date	14/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Double Taxation: Crown Dependencies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department took steps to seek to include an increase in transparency for beneficial ownership registers in the negotiations for the double taxation treaties with Jersey, Guernsey and the Isle of Man.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	type	WrittenParliamentaryQuestion
	uin	191479
	answer	answer is ministerial correction date of answer 19/11/2018 answer text <p>Beneficial ownership registers are outside of the scope of a double taxation treaty and so did not feature in the negotiations with Jersey, Guernsey or the Isle of Man. Double taxation treaties are based on the Organisation for Economic Cooperation and Development’s Model Tax Convention, which does not include beneficial ownership registers.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/11/2018 15:54:53 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

1038939

	registered interest
	date	20/12/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Immigration: Fraud
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether the press release of Her Majesty's Treasury Press Release entitled Crackdown on financial crime made reference to the Written Statement of 6 December 2018 on Statement of Changes in Immigration Rules, HCWS1159.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	type	WrittenParliamentaryQuestion
	uin	207272
	answer	answer is ministerial correction date of answer 15/01/2019 answer text <p>There is no recent HM Treasury press release entitled “Crackdown on financial crime”. The most recent HM Treasury press release relating to countering illicit finance was published on 7<sup>th</sup> December 2018, and was entitled “UK takes top spot in fight against dirty money”. This press release relates to the Mutual Evaluation Report (a once-a-decade assessment) of the UK’s anti-money laundering and counter-terrorist financing regime. This assessment was conducted by the Financial Action Task Force (FATF), the global standard-setter for anti-money laundering and counter-terrorist financing, and contains key findings and follow-up recommendations for countries to consider. The UK has achieved the best ratings of any country assessed so far in this round of evaluations, outperforming significant players in this space (such as the US and other global financial centres). The report places the UK as the strongest overall regime of over 60 countries assessed to date.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/01/2019 17:13:45 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

1061146

	registered interest
	date	14/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Conduct Authority: Fines
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the 10 December 2018 Financial Times article FCA fines against individuals almost treble, whether his Department has made an assessment of the reasons for which fines issued by the Financial Conduct Authority decreased 88 per cent between 2017 and 2018.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	type	WrittenParliamentaryQuestion
	uin	221810
	answer	answer is ministerial correction date of answer 19/02/2019 answer text <p>The Financial Conduct Authority (FCA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act (2000). In view of this independence, HMT does not make an assessment of the fines issued by the FCA. The FCA provides year on year analysis of the fines it levies in its annual enforcement report. The 2017/18 report can be found here:</p><p> </p><p><a href="https://www.fca.org.uk/publication/corporate/annual-report-2017-18-enforcement-performance.pdf" target="_blank">https://www.fca.org.uk/publication/corporate/annual-report-2017-18-enforcement-performance.pdf</a></p> answering member constituency Salisbury answering member printed John Glen question first answered 19/02/2019 12:39:58 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

1061147

	registered interest
	date	14/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money Laundering
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what representations his Department made to the Financial Action Task Force on Money Laundering ahead of the release of that body's evaluation of the UK’s anti-money laundering and counter terrorist financing regime in December 2018.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	type	WrittenParliamentaryQuestion
	uin	221811
	answer	answer is ministerial correction date of answer 19/02/2019 answer text <p>The Financial Action Task Force (FATF) is the global standard-setter on anti-money laundering and counter-terrorist financing. In line with the FATF procedures (available at <a href="http://www.fatf-gafi.org/publications/mutualevaluations/documents/4th-round-procedures.html" target="_blank">http://www.fatf-gafi.org/publications/mutualevaluations/documents/4th-round-procedures.html</a>), HM Treasury submitted supporting documents for its evaluation in autumn 2017, outlining the technical compliance and efficacy of the UK’s regime. HM Treasury officials subsequently engaged with FATF assessors during on-site meetings in March 2018 and at face-to-face meetings in August 2018. The UK’s report was formally agreed by FATF members at the October 2018 FATF plenary meeting and published on 7 December 2018.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/02/2019 12:42:05 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

1061148

	registered interest
	date	14/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money Laundering
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to implement the recommendations made by the Financial Action Task Force in its recent assessment of the UK's anti-money laundering and counter terrorist financing regime.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	type	WrittenParliamentaryQuestion
	uin	221812
	answer	answer is ministerial correction date of answer 19/02/2019 answer text <p>In its recent assessment of the UK's anti-money laundering and counter terrorist financing (AML/CTF) regime, the Financial Action Task Force gave the UK the strongest results of 60 countries it has assessed to date. Out of the 11 areas assessed, the UK received the highest possible rating in 4 and the second highest rating in a further 4.</p><p><strong> </strong></p><p>The strong assessment of the UK’s system reflects the UK’s commitment to tackling illicit finance – as reflected through recent reforms such as the establishment of the National Economic Crime Centre, the establishment of the Office for Professional Anti-Money Laundering Supervision (OPBAS) within the Financial Conduct Authority, the new measures introduced in the Criminal Finances Act 2017, and the implementation of the Money Laundering Regulations 2017.</p><p> </p><p>In January, the Chancellor and Home Secretary launched the Economic Crime Strategic Board which will work with senior figures from the public and private sectors to tackle economic crime. The Board, which will meet twice a year, will set priorities, direct resources and scrutinise performance against the economic crime threat. It is through the work of this Board, and the ongoing Treasury and Home Office-led economic crime reform programme, that the Financial Action Task Force’s recommendations will be addressed.</p><p> </p><p>On 13 February, I co-chaired an AML/CFT Supervision roundtable with the Minister of State for Security &amp; Economic Crime, with attendance from across the professional body supervision regime. This provided an important opportunity to emphasise the commitment of government to tackling illicit finance in the accountancy and legal sectors, to reaffirm my support for OPBAS in raising supervision standards and to make clear to attendees their responsibility to address the recommendations made by FATF during their review of the UK’s AML/CFT regime.</p><p> </p><p>There is work already in train to address some of the recommendations. For example, the government is already committed to:</p><ul><li><p>Reforming the Suspicious Activity Reports (SARs) regime, to further improve the use of financial intelligence in the UK</p></li><li><p>Regulating virtual currencies for AML/CTF purposes by the end of 2019, to tackle emerging risks in the sector</p></li><li><p>Taking appropriate action on mitigating the threats posed by limited partnerships, on which the Department for Business, Energy and Industrial Strategy published proposals in December 2018</p></li><li><p>A broader package of reforms to Companies House which will be consulted on later this year, and</p></li><li><p>Strengthening the AML supervisory regime through the work of the OPBAS.</p></li></ul> answering member constituency Salisbury answering member printed John Glen question first answered 19/02/2019 14:27:16 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

1108791

	registered interest
	date	01/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Halifax Bank of Scotland: Fraud
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has had discussions with the Financial Conduct Authority on potential failures at Lloyds/HBOS to follow the Senior Managers Regime in respect of disclosure of the Turnbull report; and if he will make a statement.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	type	WrittenParliamentaryQuestion
	uin	239315
	answer	answer is ministerial correction date of answer 04/04/2019 answer text <p>Treasury Ministers meet the UK’s financial services regulators on a regular basis to discuss a range of matters.</p><p> </p><p>Investigations into events at HBOS Reading are a matter for the operationally independent Financial Conduct Authority and Prudential Regulation Authority.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 239316 question first answered 04/04/2019 13:12:09 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds