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  • Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Kirsten Oswald on 2015-12-08.

    To ask Mr Chancellor of the Exchequer, what representations he has received on differences in the (a) criteria used by the Financial Ombudsman’s Service and Financial Services Compensation Scheme to determine cases and (b) determinations reached by those bodies.

    Harriett Baldwin

    Treasury Ministers and officials receive regular representations on a wide range of issues.

    As was the case with previous Administrations, it is not the Treasury’s practice to provide details of all such discussions.

  • Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Kirsten Oswald on 2015-12-08.

    To ask Mr Chancellor of the Exchequer, when he was first told that Capital Financial Managers Limited knew by September 2009 that investors’ funds were exposed to risks not provided for in the information memorandum for the Connaught Fund.

    Harriett Baldwin

    This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government.

    This question has been passed on to the FCA. They will reply directly to the Honourable Member by letter. A copy of the letter will be placed in the Library of the House.

  • Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Kirsten Oswald on 2015-12-08.

    To ask Mr Chancellor of the Exchequer, when he last received advice on the adequacy of the Financial Conduct Authority’s requirements for professional indemnity to underpin advice given by independent financial advisers; and what action he took in response to that advice.

    Harriett Baldwin

    Treasury Ministers regularly receive advice on regulatory issues.

    As was the case with previous Administrations, it is not the Treasury’s practice to provide details of such advice.

  • Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Kirsten Oswald on 2015-12-08.

    To ask Mr Chancellor of the Exchequer, if he will encourage the Financial Conduct Authority to bring its investigation into the Connaught Fund to an early conclusion; and if he will make a statement.

    Harriett Baldwin

    The FCA is an independent non-governmental body responsible for regulating and supervising the financial services industry within the framework of statutory objectives and duties agreed by Parliament. Although the Treasury is responsible for setting the legal framework, oversight of business practicesis a matter for the FCA Board.

    The Government appreciates the real difficulties and the serious implications the Connaught issue has had for investors and is following the situation closely.

  • Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Kirsten Oswald on 2015-12-08.

    To ask Mr Chancellor of the Exchequer, whether he is satisfied by the proportion of Connaught Fund investors who received the full level of compensation awarded to them.

    Harriett Baldwin

    This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government.

    This question has been passed on to the FCA. They will reply directly to the Honourable Member by letter. A copy of the letter will be placed in the Library of the House.

  • Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Kirsten Oswald on 2015-12-08.

    To ask Mr Chancellor of the Exchequer, what estimate he has made of the number of and outcomes achieved by (a) Connaught Fund investors and (b) other investors who have sought payment from the Financial Services Compensation Scheme when their independent financial adviser has declared a default on an award of compensation by the Financial Ombudsman’s Service; and if he will publish that assessment.

    Harriett Baldwin

    Her Majesty’s Treasury does not keep records of cases of investors who have sought compensation from the Financial Services Compensation Scheme.

    The Honourable Member should contact the Financial Services Compensation Scheme directly with inquiries relating to compensation claims.

  • Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Kirsten Oswald on 2015-12-08.

    To ask Mr Chancellor of the Exchequer, when he last met the Financial Conduct Authority to discuss how its uses its powers under section 382 of the Financial Services and Markets Act 2000 to compel a registered firm to compensate investors for losses incurred as a result of that firm’s breaches of its statutory obligations; and what the outcome of that meeting was.

    Harriett Baldwin

    Treasury Ministers and officials meet regularly with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.

    Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at:

    https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel

    “

  • Carol Monaghan – 2015 Parliamentary Question to the HM Treasury

    Carol Monaghan – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Carol Monaghan on 2015-12-08.

    To ask Mr Chancellor of the Exchequer, whether he plans to ring-fence the capital and resource elements of the science budget settlement announced in the Spending Review and Autumn Statement 2015.

    Greg Hands

    Total science resource spending of £4.7 billion will be protected in real terms for the rest of the Parliament.

    Government has also made a long term science capital commitment of £6.9 billion between 2015-2021 to support the UK’s world-class research base.

  • Seema Malhotra – 2015 Parliamentary Question to the HM Treasury

    Seema Malhotra – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Seema Malhotra on 2015-12-08.

    To ask Mr Chancellor of the Exchequer, with reference to paragraph 2.10 of the Spending Review and Autumn Statement 2015, if he will publish the analysis and methodology used to estimate that the proposed apprenticeship levy will raise £3 billion by 2020-21.

    Greg Hands

    The government has published the policy costing note for the apprenticeship levy on gov.uk. It can be found here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/480565/SRAS2015_policy_costings_amended_page_25.pdf

    “

  • Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    Kirsten Oswald – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Kirsten Oswald on 2015-12-08.

    To ask Mr Chancellor of the Exchequer, on how many occasions the Financial Conduct Authority and the Financial Services Authority used powers under Section 382 of the Financial Services and Markets Act 2000 to compel a registered firm to compensative investors for losses incurred as a result of that firm’s breaches of its statutory obligations; and whether he is satisfied that the legislation is being implemented effectively.

    Harriett Baldwin

    This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government.

    This question has been passed on to the FCA. They will reply directly to the Honourable Member by letter. A copy of the letter will be placed in the Library of the House.