1-20 of 164 results for subject:Protection
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Her Majesty's Government what plans they have to review the effectiveness of authorised corporate directors of open-ended investment funds in providing investor protection.
Her Majesty's Government what plans they have to review the effectiveness of authorised corporate directors of open-ended investment funds in providing investor protection.
The government is committed to ensuring that the UK has a robust framework for financial regulation and that consumers are treated fairly. The FCA is responsible for overseeing the conduct standards of financial services firms.
‘Host’ Authorised Corporate Directors (ACDs) are Authorised Fund Managers which are not within the group structure of the delegate investment manager. The FCA is currently reviewing how effectively ‘host’ ACDs undertake their responsibilities. The FCA expects to complete this work in the first half of 2020.
To ask Her Majesty's Government whether they will (1) establish an independent review into the Financial Conduct Authority's supervision of Woodford Investment Management and Link Financial Solutions, and (2) review the protections in place for investors in open-ended funds in circumstances similar to those managed by Woodford.
To ask Her Majesty's Government whether they will (1) establish an independent review into the Financial Conduct Authority's supervision of Woodford Investment Management and Link Financial Solutions, and (2) review the protections in place for investors in open-ended funds in circumstances similar to those managed by Woodford.
The government takes the suspension and winding up of the Woodford Equity Income Fund (WEIF) very seriously and is monitoring the response. The Financial Conduct Authority (FCA) is continuing its investigation into the activities that led to the suspension of the WEIF. At this stage, the government has not seen evidence that would justify establishing an independent review into the FCA’s supervision of the fund.
As part of its investigation, the FCA is considering what FCA rule changes may be necessary to protect investors and to prevent similar issues in future. The FCA is also working with the Bank of England’s Financial Policy Committee to assess how funds’ redemption terms might be better aligned with the liquidity of their assets. Once the FCA publishes its findings, we will be able to assess whether there is any further role for the government.
To ask Her Majesty's Government what plans they have to ask the Financial Conduct Authority to investigate the risks in the guarantor loan market and the protections available to guarantors.
To ask Her Majesty's Government what plans they have to ask the Financial Conduct Authority to investigate the risks in the guarantor loan market and the protections available to guarantors.
The government has given the FCA strong powers to protect consumers and to act against firms and individuals that do not meet its standards.
In relation to guarantor lending the FCA has identified relending, insufficient affordability checks, and the increasing number of payments made by guarantors as the areas of potential harm to consumers. They are conducting supervisory work to assess these areas which will conclude in January 2021.
Treasury ministers and officials meet regularly with the FCA, and the government will continue to work closely with the FCA to ensure all customers are treated fairly.
Her Majesty's Government whether they intend to take steps to protect those lenders who have made loans through Ratesetter.
Her Majesty's Government whether they intend to take steps to protect those lenders who have made loans through Ratesetter.
The government has implemented a proportionate, principles based regime for peer-to-peer (P2P) lending that balances the need for consumer protection with allowing the sector to grow and evolve. This requires consumer-facing platforms to be authorised by the Financial Conduct Authority (FCA) and subject to FCA rules.
The FCA are currently undertaking their planned review of the regulatory framework for (P2P) lending, and the government will continue to engage with the FCA and the wider P2P industry as the review continues.
To ask Her Majesty’s Government what assessment they have made of the debt levels of Four Seasons Health Care; whether they have any plans to intervene to protect the interests of patients; and whether they are able to require the company's private equity owner to invest new equity.
To ask Her Majesty’s Government what assessment they have made of the debt levels of Four Seasons Health Care; whether they have any plans to intervene to protect the interests of patients; and whether they are able to require the company's private equity owner to invest new equity.
Adult social care is largely delivered through an independent sector of care provider organisations that operate in a competitive market. As with any market, some providers enter and exit, which is an important mechanism for driving up quality and effectiveness. Market exits are regular occurrences and are handled effectively by local government.
It is of course vital that vulnerable people with care needs do not have their services interrupted if their care provider failed financially and services stop. The Care Act 2014 introduced new duties on local authorities and the Care Quality Commission (CQC) to protect and reassure people with care needs, their families and friends. The Act places a duty on all local authorities in England to temporarily step in and make sure all people in their area continue to have their needs met, regardless of who pays for their care. Recognising that local authorities might struggle if a significant provider were to fail, the CQC has a new function to oversee and monitor the financial sustainability of the largest and most difficult to replace providers. The oversight function provides an early warning to relevant local authorities in the event that one of these providers is likely to fail and their services cease.
Four Seasons Health Care is one of the providers that because of their size, is part of the CQC’s Market Oversight Scheme. CQC continues to monitor the finances of all of the providers in the scheme. Government has no powers to require a private company that is acting lawfully to change its financial approach.
The Care Act 2014 also places new duties on local authorities to promote their local market to ensure all service users have a choice of high quality services available.
I have no interests to declare. I have never chaired a rural agency. I now understand why: the noble Lord, Lord Marlesford held most of those appointments. However, I speak as a Member of the Labour Benches and somebody with a strong association with a rural area, namely the county...
I have no interests to declare. I have never chaired a rural agency. I now understand why: the noble Lord, Lord Marlesford held most of those appointments. However, I speak as a Member of the Labour Benches and somebody with a strong association with a rural area, namely the county...
To ask Her Majesty’s Government what action is being taken to address the proliferation of fraudulent offers of finance to naive or vulnerable persons by e-mail and other means.
To ask Her Majesty’s Government what action is being taken to address the proliferation of fraudulent offers of finance to naive or vulnerable persons by e-mail and other means.
My honourable friend the Exchequer Secretary to the Treasury (Sarah McCarthy-Fry) has today made the following Written Ministerial Statement. Following the successful legal and capital restructuring of Northern Rock, which took effect on 1 January 2010, the Government, in conjunction with the Financial Services Authority (FSA), have reviewed the guarantee...
My honourable friend the Exchequer Secretary to the Treasury (Sarah McCarthy-Fry) has today made the following Written Ministerial Statement. Following the successful legal and capital restructuring of Northern Rock, which took effect on 1 January 2010, the Government, in conjunction with the Financial Services Authority (FSA), have reviewed the guarantee...
To ask Her Majesty's Government further to the Answer by Lord Myners on 2 April 2009 (Official Report, House of Lords, cols. 1174–5), what steps the Financial Services Authority has taken since then to regulate better equity release schemes.
To ask Her Majesty's Government further to the Answer by Lord Myners on 2 April 2009 (Official Report, House of Lords, cols. 1174–5), what steps the Financial Services Authority has taken since then to regulate better equity release schemes.
To ask Her Majesty's Government further to the Written Answer by Lord Myners on 2 April 2009 (Official Report, House of Lords, col. 1173) on equity release, what steps they have taken since then to promote the measures set out in the question; and whether they issue guidance that such...
To ask Her Majesty's Government further to the Written Answer by Lord Myners on 2 April 2009 (Official Report, House of Lords, col. 1173) on equity release, what steps they have taken since then to promote the measures set out in the question; and whether they issue guidance that such...
My honourable friend the Exchequer Secretary to the Treasury (Sarah McCarthy-Fry) has made the following Written Ministerial Statement. The Government are today publishing two consultation documents on implementation of aspects of the Banking Act 2009 as part of their programme to protect depositors and maintain financial stability. The Banking Act...
My honourable friend the Exchequer Secretary to the Treasury (Sarah McCarthy-Fry) has made the following Written Ministerial Statement. The Government are today publishing two consultation documents on implementation of aspects of the Banking Act 2009 as part of their programme to protect depositors and maintain financial stability. The Banking Act...
My Lords, with the leave of the House, I will now repeat a Statement made in another place yesterday by my right honourable friend the Chancellor of the Exchequer on government proposals for reforming financial markets. The Statement is as follows: "With permission, I shall make a Statement on the...
My Lords, with the leave of the House, I will now repeat a Statement made in another place yesterday by my right honourable friend the Chancellor of the Exchequer on government proposals for reforming financial markets. The Statement is as follows: "With permission, I shall make a Statement on the...
My Lords, the letter from the Leader of the House to which the noble Lord, Lord Pearson, refers is entirely consistent with the views expressed by my right honourable friend. Responsibility for the supervision of UK banks will remain vested with the Financial Services Authority. However, we cannot be isolated...
My Lords, the letter from the Leader of the House to which the noble Lord, Lord Pearson, refers is entirely consistent with the views expressed by my right honourable friend. Responsibility for the supervision of UK banks will remain vested with the Financial Services Authority. However, we cannot be isolated...
My Lords, I agree with much that has been said by my noble friend. I repeat that I have seen nothing to suggest that the Bank of England believes that it is the right body to carry out microsupervision of building societies, banks and systemically important institutions. What the governor...
My Lords, I agree with much that has been said by my noble friend. I repeat that I have seen nothing to suggest that the Bank of England believes that it is the right body to carry out microsupervision of building societies, banks and systemically important institutions. What the governor...
My Lords, the noble and learned Lord asks a very interesting question. First, capital is a core component of banking strategy because it absorbs loss and protects the interests of depositors. A feature of my right honourable friend’s Statement yesterday, which was not raised earlier either in this House or...
My Lords, the noble and learned Lord asks a very interesting question. First, capital is a core component of banking strategy because it absorbs loss and protects the interests of depositors. A feature of my right honourable friend’s Statement yesterday, which was not raised earlier either in this House or...
My Lords, the Government made a clear statement of apology for certain actions taken in connection with Equitable Life by various Governments, including those before 1997. We have established a facility under a judge to take forward necessary payments consequent on the ombudsman’s report. Actions are being taken to address...
My Lords, the Government made a clear statement of apology for certain actions taken in connection with Equitable Life by various Governments, including those before 1997. We have established a facility under a judge to take forward necessary payments consequent on the ombudsman’s report. Actions are being taken to address...
My Lords, I welcome the contributions from the noble Baroness, Lady Noakes, and the noble Lord, Lord Newby. The framework set out by my right honourable friend the Chancellor of the Exchequer yesterday in his speech in the other place and in the document that we published yesterday afternoon is...
My Lords, I welcome the contributions from the noble Baroness, Lady Noakes, and the noble Lord, Lord Newby. The framework set out by my right honourable friend the Chancellor of the Exchequer yesterday in his speech in the other place and in the document that we published yesterday afternoon is...
My Lords, whether I inadvertently misled the House is a matter of judgment. For the avoidance of doubt, I make my view clear that legislation taken through Parliament when the noble Lord, Lord Lawson, was Chancellor of the Exchequer delivered a significant improvement in the prudential supervision of a more...
My Lords, whether I inadvertently misled the House is a matter of judgment. For the avoidance of doubt, I make my view clear that legislation taken through Parliament when the noble Lord, Lord Lawson, was Chancellor of the Exchequer delivered a significant improvement in the prudential supervision of a more...
My Lords, I read with interest the Oral Question on auditors. I am sorry that I could not be in the House then, as I was being cross-examined by the Treasury Select Committee. During that cross- examination I came to the conclusion that I should have voted in favour of...
My Lords, I read with interest the Oral Question on auditors. I am sorry that I could not be in the House then, as I was being cross-examined by the Treasury Select Committee. During that cross- examination I came to the conclusion that I should have voted in favour of...
My Lords, the noble Lord, Lord Stewartby, brings a considerable degree of relevant experience to this subject and the House always listens to his views with great interest. I draw his attention to the Turner report, which, coming after the audit of the FSA’s supervision of Northern Rock, built up...
My Lords, the noble Lord, Lord Stewartby, brings a considerable degree of relevant experience to this subject and the House always listens to his views with great interest. I draw his attention to the Turner report, which, coming after the audit of the FSA’s supervision of Northern Rock, built up...