1-20 of 360 results for subject:"Foreign exchange"
Librarians' tools
- Search time
- 0.418 seconds
- Solr query time
- 0.005 seconds
- Search query
- subject:"Foreign exchange"
- We searched for
- subject_t:"Foreign exchange" OR subject_ses:91323
Type
House
Session
More
Year
Department
More
Member
More
Primary member
More
Answering member
More
Legislative stage
Legislation
More
Subject
More
Publisher
To ask the Right hon. Member for Kenilworth and Southam, representing the Speaker's Committee on the Electoral Commission, whether the Electoral Commission has produced guidance on how donations made in foreign currencies should be treated for the purposes of donation reporting rules.
To ask the Right hon. Member for Kenilworth and Southam, representing the Speaker's Committee on the Electoral Commission, whether the Electoral Commission has produced guidance on how donations made in foreign currencies should be treated for the purposes of donation reporting rules.
The Electoral Commission hasn't produced specific guidance on donations that are in foreign currencies.
Political parties must report the value of the donations in Pounds Sterling at the time of receipt if they are above the reporting threshold and check it for permissibility if it is above £500.
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of record keeping requirements for foreign exchange and money remittance transactions.
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of record keeping requirements for foreign exchange and money remittance transactions.
The latest National Risk Assessment of Money Laundering and Terrorist Financing, published in July 2025, confirms that Money Service Businesses (MSBs) remain high risk for both money laundering and terrorist financing, unchanged from the 2020 rating. The report can be found here:
National risk assessment of money laundering and terrorist financing 2025 - GOV.UK
The Government recognises the importance of targeting anti-money laundering (AML) activity at the highest-risk sectors as part of a risk-based approach. That is why the latest amendments to the Money Laundering Regulations (MLRs), due to be laid in 2026, will make the MLRs more proportionate and effective by ensuring that so-called ‘Know Your Customer’ requirements on regulated businesses such as MSBs are clearer and more targeted at high-risk activity.
HMRC is the AML supervisor for MSBs. While we cannot comment on individual cases, HMRC provides HM Treasury with data on the number and risk profile of MSBs operating in the UK, as well as information on how it assesses and responds to MSB-related risks. This information is published in HM Treasury’s annual anti-money laundering and counter-terrorist financing supervision report, the latest version of which is available here:
Anti-money laundering and countering the financing of terrorism: Supervision Report 2023-24 - GOV.UK
HMRC also publishes details of penalties it has issued to businesses for non-compliance with the MLRs. The information for the 2024-25 financial year can be found here:
Businesses that have not complied with the money laundering regulations (2024 to 2025) - GOV.UK
According to this data, in 2024-25 16 MSBs were fined a total of £50,276 for failures in: the provision of registration information; notifying HMRC of material change; having the correct policies, controls and procedures; conducting due diligence; record keeping; and providing requested information or documents. HMRC also applies a range of non-financial penalties, including preventing businesses from trading through suspension or cancellation of their supervisory registration, to address risks in its supervised sectors.
To ask His Majesty's Government what plans they have to require foreign currency cash exchange services for consumers to display (1) the live interbank exchange rate, and (2) the commission charged.
To ask His Majesty's Government what plans they have to require foreign currency cash exchange services for consumers to display (1) the live interbank exchange rate, and (2) the commission charged.
The Payment Services Regulations 2017 make requirements on UK payment service providers regarding disclosure of fees and charges to the payer where currency conversion is provided as part of a payment transaction. Provisions under the Cross Border Payments Regulation, also contribute to price transparency, with further requirements regarding how foreign exchange costs are communicated before a payment is made.
The Government recognises the importance of transparency of fees and charges in ensuring effective competition between payment service providers. These regulations, amongst other things, are intended to enable consumers to make informed decisions when making use of payment services including where currency conversion is offered as part of a payment transaction.
To ask the Secretary of State for Science, Innovation and Technology, what steps his Department is taking to ensure social media companies (a) remove and (b) report (i) illegal counterfeit currency and (ii) fraudulent foreign exchange trading.
To ask the Secretary of State for Science, Innovation and Technology, what steps his Department is taking to ensure social media companies (a) remove and (b) report (i) illegal counterfeit currency and (ii) fraudulent foreign exchange trading.
The illegal content duties under the Online Safety Act came into force on 17 March 2025. Social media services must now have systems and processes in place to proactively protect users from illegal fraudulent content. Ofcom’s illegal content Codes of Practice recommended that certain services at risk of fraud have dedicated reporting channels for trusted flaggers, such as the National Crime Agency, to report fraud. Providers must take the safety measures recommended in Codes or use other effective measures to protect users.
Ofcom can take enforcement action if providers do not act promptly to address the risks on their services.
To ask His Majesty's Government what assessment they have made of (1) the possibility of, and (2) dangers from, a 'liquidity mirage' in foreign exchange markets.
To ask His Majesty's Government what assessment they have made of (1) the possibility of, and (2) dangers from, a 'liquidity mirage' in foreign exchange markets.
The Bank of England’s Financial Policy Committee is responsible for identifying, monitoring and addressing any risks that threaten the resilience of the UK financial system, including foreign exchange markets.
UK regulators, and the Bank of England, in conjunction with their counterparts in other jurisdictions, monitor markets, including foreign exchange markets so as to ensure that they support the UK financial system and economy.
To ask the Chancellor of the Exchequer, whether he has plans to remove the corporate opt-out for cross-border payments pricing disclosures.
To ask the Chancellor of the Exchequer, whether he has plans to remove the corporate opt-out for cross-border payments pricing disclosures.
The UK’s legislative framework for payment services, including cross-border payments, places various disclosure requirements on payment firms. This includes the ability to opt out of disclosures for certain corporates, where both parties agree.
This legislation derives from EU law, which will be replaced under the government’s Smarter Regulatory Framework programme. Under this, it is intended that government legislation will set the framework within which the regulators will operate. In general, firm-facing requirements, such as these cross-border disclosures, will be determined by the relevant regulator (in this case, the FCA).
We are closely monitoring the economic situation in Sri Lanka, including foreign exchange data reported by Central Bank of Sri Lanka and Sri Lankan authorities. Prior to the Covid-19 pandemic, tourism was a key export sector for Sri Lanka, making up almost 30% of total export revenues. However, Sri...
We are closely monitoring the economic situation in Sri Lanka, including foreign exchange data reported by Central Bank of Sri Lanka and Sri Lankan authorities. Prior to the Covid-19 pandemic, tourism was a key export sector for Sri Lanka, making up almost 30% of total export revenues. However, Sri...
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether her Department has made an assessment of the effect of the amount of foreign exchange from UK tourism and migrant workers on the economy of Sri Lanka in the last three years.
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether her Department has made an assessment of the effect of the amount of foreign exchange from UK tourism and migrant workers on the economy of Sri Lanka in the last three years.
We are closely monitoring the economic situation in Sri Lanka, including foreign exchange data reported by Central Bank of Sri Lanka and Sri Lankan authorities. Prior to the Covid-19 pandemic, tourism was a key export sector for Sri Lanka, making up almost 30% of total export revenues. However, Sri Lanka's tourism receipts declined by almost 80% in 2020 and fell by a further 60% in 2021. The UK is a key contributor to Sri Lanka's tourism sector. It has been among the top three source markets in the past three years, placed as the second major country of origin for tourists in Sri Lanka in 2019 and 2020, and third in 2021. Remittances from overseas workers have also been an important contributor to Sri Lanka's economy in the past three years, worth around 8% and 9% of Sri Lanka's total GDP in 2019 and 2020, respectively. Despite initially remaining constant in 2020, remittances fell by over 20% in 2021, down to their lowest levels since 2011.
The UK recognises the difficult economic situation and welcomes the start in-depth discussions with the International Monetary Fund (IMF) on reforms needed to bring the economy back to a sustainable path. The Prime Minister spoke to the Prime Minister of Sri Lanka Ranil Wickremesinghe on 30 May, and underlined the UK's continued support for the people of Sri Lanka during their current economic difficulties.
To ask the Chancellor of the Exchequer, whether the Russian Central Bank can recover funds in pound sterling in the UK via the National Bank Trust.
To ask the Chancellor of the Exchequer, whether the Russian Central Bank can recover funds in pound sterling in the UK via the National Bank Trust.
I am unable to comment on individual cases. However, the UK has imposed sanctions that prohibit UK persons from providing financial services for the purposes of foreign exchange or asset management of the Central Bank of Russia, the Russian Ministry of Finance, and the National Wealth Fund of Russia. These restrictions apply to all transactions in pound sterling.
To ask the Chancellor of the Exchequer, pursuant to the Answer of 24 March 2022 to Question 143714 on Refugees: Ukraine, what steps the Government can take to facilitate the exchange of Hryvnia notes for Sterling given the controls on the Ukrainian currency.
To ask the Chancellor of the Exchequer, pursuant to the Answer of 24 March 2022 to Question 143714 on Refugees: Ukraine, what steps the Government can take to facilitate the exchange of Hryvnia notes for Sterling given the controls on the Ukrainian currency.
I refer the honourable member to the answer that I gave on 24 March 2022 to UIN 143714.
To ask the Chancellor of the Exchequer, what steps he is taking to help Ukrainian refugees who have fled to the UK to exchange their physical currency for sterling.
To ask the Chancellor of the Exchequer, what steps he is taking to help Ukrainian refugees who have fled to the UK to exchange their physical currency for sterling.
The government will monitor if steps are needed to support financial services provision for Ukrainian refugees in the UK’s marketplace.
Participants in industry have highlighted measures they have taken to support refugees and their access to essential financial services.
The Government recognises that access to a current account is key to enabling people to manage their money on a day-to-day basis effectively, securely, and confidently.
The nine largest personal current account providers in the UK are legally required to offer basic bank accounts to customers in the UK who do not have a bank account or who are not eligible for a bank’s standard current account. Customers must be lawfully resident in the UK to be eligible, and this includes Ukrainian nationals who have entered the UK under the Ukrainian Scheme and Ukrainian Family Scheme.
My Lords, I shall speak to the following three statutory instruments, copies of which were laid before this House on 1 and 8 March: first, the Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2022; secondly, the Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022; and. thirdly, the Russia...
My Lords, I shall speak to the following three statutory instruments, copies of which were laid before this House on 1 and 8 March: first, the Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2022; secondly, the Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022; and. thirdly, the Russia...
My Lords, as always, it is a pleasure to follow the noble Baroness on these issues. As is customary, she asked some really practical questions in her contribution. I share them, living in a rural area and having formerly represented a constituency that, both for industry and for individual families,...
My Lords, as always, it is a pleasure to follow the noble Baroness on these issues. As is customary, she asked some really practical questions in her contribution. I share them, living in a rural area and having formerly represented a constituency that, both for industry and for individual families,...
My Lords, one thing that I think we can be absolutely certain of is that this Parliament and this country are fully united in their condemnation of the actions of the Russian state, particularly Putin and his acolytes. We fully support the introduction of these regulations and the Government’s efforts...
My Lords, one thing that I think we can be absolutely certain of is that this Parliament and this country are fully united in their condemnation of the actions of the Russian state, particularly Putin and his acolytes. We fully support the introduction of these regulations and the Government’s efforts...
My Lords, I am grateful to the two noble Lords and the noble Baroness who spoke in this insightful and, if I may say so, timely discussion. I will do my very best to address the important questions that they asked. There were a lot of them; I am sure...
My Lords, I am grateful to the two noble Lords and the noble Baroness who spoke in this insightful and, if I may say so, timely discussion. I will do my very best to address the important questions that they asked. There were a lot of them; I am sure...
I was asked why we should not sanction the whole of Putin’s inner circle and the security council. I can give a slightly better answer. On 11 March, the Foreign Secretary sanctioned 386 members of the Duma, the lower house of the Russian Parliament. On 10 March, the Government announced...
I was asked why we should not sanction the whole of Putin’s inner circle and the security council. I can give a slightly better answer. On 11 March, the Foreign Secretary sanctioned 386 members of the Duma, the lower house of the Russian Parliament. On 10 March, the Government announced...
I am most grateful to my noble friend for setting out the instruments before us, which I am delighted to say I support most warmly.
There seems to be a general trend in each of the statutory instruments that I have participated in, and that is that corrections are being made....
I am most grateful to my noble friend for setting out the instruments before us, which I am delighted to say I support most warmly.
There seems to be a general trend in each of the statutory instruments that I have participated in, and that is that corrections are being made....
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.