Tag: Cathy Jamieson

The below Parliamentary question was asked by Cathy Jamieson on 2014-06-04.

To ask Mr Chancellor of the Exchequer, what recent discussions he has had on the development of guidance on the use of social media for promotion of financial services.

Andrea Leadsom

The Financial Conduct Authority (FCA) is responsible for conduct supervision of regulated financial firms, including their responsible promotion of products and services.

In 2010 the then Financial Services Authority issued some high-level guidelines on use of ‘new media’ – including social media – for such promotions. Since April 2013 the FCA has been engaging with industry, looking further at how social media interacts with FCA rules, and has committed to issue further guidelines later this summer.

The below Parliamentary question was asked by Cathy Jamieson on 2014-06-04.

To ask the Secretary of State for Scotland, how many tenants in Scotland arranged mutually exchanges to elsewhere in the UK through Home Swap Direct in each of the last three years for which figures are available.

David Mundell

Details of the number of moves that have taken place under the HomeSwap Direct Scheme from Scotland to elsewhere in the United Kingdom in each of the last three years are not held centrally. This information is more likely to be held by social housing providers.

The below Parliamentary question was asked by Cathy Jamieson on 2014-06-17.

To ask Mr Chancellor of the Exchequer, what steps he is taking to improve regulation of the shadow banking sector.

Andrea Leadsom

When appropriately conducted, shadow banking can benefit the economy by increasing the availability of credit to a range of individuals or firms, and provide a valuable alternative to bank funding. It provides credit and liquidity to the real economy and can improve efficiency and drive innovation in the financial system through firms developing expert knowledge in a particular area.

However, the Government is aware of the risks shadow banking activities pose to financial stability when things go wrong. The crisis showed that some shadow banking entities created pro-cyclical build-ups of leverage, did not fully transfer credit risk, were susceptible to rapid sell-offs, and were very complex. It also became clear that the shadow banking sector had very complex interconnections with the traditional banking system.

Recognising the need to improve the transparency and supervision of the shadow banking sector, the Government has taken steps to improve the way shadow banking entities are regulated.

Domestically, the Government has created new Financial Policy Committee (FPC) within the Bank of England to ensure emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed. In September last year, the Committee agreed as one of its medium term priorities the identification and management of potential systemic risks from shadow banking.

At the international level, the Government is actively supporting the effective regulation of the sector in EU policymaking, and the UK is instrumental in shaping the global regulatory response at the Financial Stability Board.

The below Parliamentary question was asked by Cathy Jamieson on 2014-06-04.

To ask the Minister for the Cabinet Office, if he will list the mutuals which provide public services.

Mr Nick Hurd

Information on known operational public service mutuals in England is publically available on the Mutuals Information Service at:

http://www.mutuals.cabinetoffice.gov.uk/interactive-map-public-service-mutuals

“

The below Parliamentary question was asked by Cathy Jamieson on 2014-06-04.

To ask the Secretary of State for Work and Pensions, what the cost of refunding travel expenditure by jobseekers to jobcentres in Kilmarnock and Loudoun constituency was between January 2014 and May 2014.

Esther McVey

The cost of refunding travel expenditure by Jobseekers to Jobcentres in Kilmarnock and Loudoun constituency between January 2014 and May 2014 was :

January 2014 to May 2014

£1,456.88

The below Parliamentary question was asked by Cathy Jamieson on 2014-06-17.

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effects of the shadow banking sector on the UK economy.

Andrea Leadsom

When appropriately conducted, shadow banking can benefit the economy by increasing the availability of credit to a range of individuals or firms, and provide a valuable alternative to bank funding. It provides credit and liquidity to the real economy and can improve efficiency and drive innovation in the financial system through firms developing expert knowledge in a particular area.

However, the Government is aware of the risks shadow banking activities pose to financial stability when things go wrong. The crisis showed that some shadow banking entities created pro-cyclical build-ups of leverage, did not fully transfer credit risk, were susceptible to rapid sell-offs, and were very complex. It also became clear that the shadow banking sector had very complex interconnections with the traditional banking system.

Recognising the need to improve the transparency and supervision of the shadow banking sector, the Government has taken steps to improve the way shadow banking entities are regulated.

Domestically, the Government has created new Financial Policy Committee (FPC) within the Bank of England to ensure emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed. In September last year, the Committee agreed as one of its medium term priorities the identification and management of potential systemic risks from shadow banking.

At the international level, the Government is actively supporting the effective regulation of the sector in EU policymaking, and the UK is instrumental in shaping the global regulatory response at the Financial Stability Board.