Mark Williams – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Mark Williams on 2014-06-26.

To ask Mr Chancellor of the Exchequer, with reference to the Answer of 24 February 2014, Official Report, column 29W, on gold: prices, and the academic draft report of February 2014, by Professor Rosa Abrantes, Adviser to the EU and International Organisation of Securities Commission on Financial Benchmarks, entitled Gold Price Fix, and her reports of systemic manipulation of the twice daily gold fix over several years, if he will make an assessment of the effect of (a) US regulatory authorities’ interventions in the gold market and (b) such interventions on gold market-related securities in ISAs.

Andrea Leadsom

The Government monitors all aspects of the gold market. Although no specific assessment of US regulatory interventions has been made, the Government is committed to taking action, whenever necessary, to ensure the efficient functioning of these essential markets. In order to raise standards of conduct in the financial system the Government has launched a joint review by the Treasury, the Bank of England and the Financial Conduct Authority into the way wholesale financial markets operate, including commodity markets.