Results 61–80 of 1867 for speaker:Simon Kirby

Equitable Life Policyholders: Compensation (23 Mar 2017)

Simon Kirby: I repeat that this is about striking the right balance between the position of the public finances and fairness to all taxpayers, and I will cover that point in more detail as I proceed. I was talking about further funding being made available to the scheme, but with debt at its highest level since the second world war, tackling the deficit and getting debt falling are challenges that call...

Equitable Life Policyholders: Compensation (23 Mar 2017)

Simon Kirby: I was going to cover the issue of Icelandic banks later, as might be expected, but there is a big difference between the two. Those ex gratia payments were different from the Equitable Life scheme in that the Government expected to recover, and indeed did recover, all the money paid to UK depositors as the banks were wound up. It is not fair to compare the two. I will now address some of the...

Equitable Life Policyholders: Compensation (23 Mar 2017)

Simon Kirby: It is fair to say that there were a lot of issues and that a lot of things were done that we would do differently today. All that was taken into account in the vast number of reports and inquiries, and is now represented in a fair and equitable scheme for payments. Connaught was mentioned by the hon. and learned Member for Edinburgh South West. As I understand it, I will be meeting her in the...

Written Answers — HM Treasury: Treasury: Secondment (23 Mar 2017)

Simon Kirby: Since July 2016, there have been two secondments to HM Treasury from PwC. There have been no staff seconded to HM Treasury from the other firms mentioned in the question.

Written Answers — HM Treasury: Treasury: Freedom of Information (23 Mar 2017)

Simon Kirby: Freedom of Information (FOI) statistics are Official Statistics and are governed by the standards set out by the UK Statistics Authority (UKSA) in their Code of Practice. To publish information outside of the release timetable would be a breach of Protocol 2 of the Code of Practice for Official Statistics. The latest FOI statistics were published in December 2016 and are available at: ...

Written Answers — HM Treasury: Treasury: Staff (23 Mar 2017)

Simon Kirby: 69 staff at Infrastructure UK transferred to the Cabinet Office when this group merged with the Major Projects Authority to form the Infrastructure and Projects Authority The breakdown of the number of people in each position at the time of the transfer can be found in the following table: Position Headcount Director 1 Specialist 44 Senior policy advisor 7 Policy Advisor 8 ...

Written Answers — HM Treasury: Cryptocurrencies: Regulation (23 Mar 2017)

Simon Kirby: We are currently negotiating amendments to the Fourth Anti-Money Laundering Directive. These amendments will extend the scope of Directive (EU) 2015/849 to include virtual currency exchange platforms and custodian wallet providers, which will enable competent authorities to ensure virtual currency networks are mitigating the risks regarding money laundering and terrorist financing. There are...

Written Answers — HM Treasury: Treasury: Evening Standard (23 Mar 2017)

Simon Kirby: The Treasury has spent the following on advertising with the Evening Standard in each year since 2010: Year Spend 2010 £2,650 2011 £0 2012 £0 2013 £0 2014 £0 2015 £0 2016 £0 An advert was placed in the Evening Standard in 2010 for departmental recruitment purposes.

Written Answers — HM Treasury: Credit Cards: Fees and Charges (22 Mar 2017)

Simon Kirby: The Payment Systems Regulator is responsible for monitoring compliance with the Interchange Fee Regulation in the UK and for taking enforcement action where appropriate. Government has therefore not made an analysis of the number of companies that do not comply with the Regulation. The Interchange Fee Regulation (IFR) caps the fees that a merchant acquirer can be charged by a card issuing...

Written Answers — HM Treasury: Treasury: Procurement (22 Mar 2017)

Simon Kirby: The earlier reported number of 89 has been corrected (separately) to reflect 86 civil servants managing external contracts. The pay grades of the civil servants referred to in the response of 2 March 2017 range from Range C (Executive Officer equivalent) to Range F (Senior Civil Servant Pay Band 1 equivalent), please see the table below with the breakdown. Range Volume C 4 D 34...

Money Laundering: British Banks (21 Mar 2017)

Simon Kirby: We want our financial institutions to lead the way in the global fight against money laundering. This is not only a question of financial crime, with illicit finance used to fund serious organised crime groups, as well as terrorist organisations; this is about keeping our citizens safe. That is why the Government are going to do what it takes to prevent the practice and pursue anyone who...

Money Laundering: British Banks (21 Mar 2017)

Simon Kirby: I assure the right hon. Gentleman that the Government are far from complacent. As I outlined earlier, we have been updating the UK’s money laundering regulations, and I hope that the Criminal Finances Bill, which is currently in the other place, will receive Royal Assent in the near future, creating new powers for enforcement agencies. The FCA takes misconduct seriously and fined Deutsche...

Money Laundering: British Banks (21 Mar 2017)

Simon Kirby: Absolutely. This Government are fully committed to ensuring that taxpayers are fully protected and that we do all we can to stamp out illegal money laundering activity.

Money Laundering: British Banks (21 Mar 2017)

Simon Kirby: In this alleged case, my understanding is that the bodies used were limited companies, not limited partnerships. Last year, BEIS introduced the register of people with significant control, and we will be consulting shortly on UK property-owning foreign companies. That is a step forward. The hon. Gentleman mentioned the limited partnership consultation; I am sure that any right hon. or hon....

Money Laundering: British Banks (21 Mar 2017)

Simon Kirby: My hon. Friend raises an important part of the Criminal Finances Bill, which is going through the other place as we speak. I look forward to its receiving Royal Assent and becoming law, giving new law enforcement powers to stop any of this activity.

Money Laundering: British Banks (21 Mar 2017)

Simon Kirby: I do not recognise that at all. The FCA and the NCA are well placed to investigate this, if appropriate. We have not only world-leading financial regulation but world-leading financial services. More than 1 million people across the country are employed in financial services in all our constituencies, and the vast majority of them work hard, do a good job and represent customers as well as...

Money Laundering: British Banks (21 Mar 2017)

Simon Kirby: My hon. Friend is absolutely right. Greater information sharing and transparency are the way forward. The register of people with significant control is an important step forward, and I look forward to additional transparency in the future. Ultimately, people with nothing to hide have nothing to fear.

Money Laundering: British Banks (21 Mar 2017)

Simon Kirby: I can tell the hon. Member for Bassetlaw (John Mann) that the FCA has carried out a number of enforcement actions, both large and small, over a large number of different financial services. It is right and proper that a balance between fairness and responsible behaviour is struck at all times.

Money Laundering: British Banks (21 Mar 2017)

Simon Kirby: It is worth saying that our shareholding in a number of banks is at arm’s length. We are not operationally in control, as is right and proper. The important thing is that we learn lessons from the past and make sure that the past is not repeated.

Money Laundering: British Banks (21 Mar 2017)

Simon Kirby: I have not had that conversation with my right hon. Friend. It is fair to say that the FCA has carried out a number of investigations, and it is right and proper that it does so. The FCA is an independent operational body that we set up as asked, and it would not be appropriate for me to comment.


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