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A former Tory minister has referred himself to the parliamentary watchdog following allegations he was paid by a company that helped him write questions to government.

George Freeman, the MP for Norfolk, is reported by The Times to have submitted queries to Labour ministers about the sector the firm operates in.

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The newspaper published what it said were leaked emails that showed exchanges in which Mr Freeman had asked the company’s director what to ask about as he prepared written parliamentary questions related to space data and emissions tracking.

Written parliamentary questions can be tabled by any MP and are a common way of requesting more information from a minister in a certain department.

Mr Freeman, who reportedly tabled the questions to the Department for Science, Innovation and Technology and the Department for Energy Security and Net Zero, became a paid adviser with GHGSat, a monitoring service for greenhouse gas emissions, in April last year.

The appointments watchdog Acoba advised him that in taking up the role, “there are risks associated with your influence and network of contacts gained whilst in ministerial office”.

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“In particular, this is a company that is interested in government policy and decisions relating to the civil space sector and emissions,” the watchdog said.

“You noted you have made it clear to the company that you will not lobby government on its behalf, and this will not form part of your role.”

In a statement, Mr Freeman said he did not believe he had done “anything wrong” but that he was referring himself to the standards commissioner.

“As a longstanding advocate of important new technologies, companies and industries, working cross-party through APPGs and the select committee, I regularly ask experts for clarification on technical points and terminology, and deeply respect and try to assiduously follow the code of conduct for MPs and the need to act always in the public interest,” he said.

“Throughout my 15 years in parliament (and government) I have always understood the need to be transparent in the work I have done for and with commercial clients and charities and am always willing to answer any criticism.

“I don’t believe I have done anything wrong but I am immediately referring myself to the parliamentary commissioner for standards and will accept his judgment in due course.”

He added: “I am very concerned at the unauthorised and targeted access to my emails and diary which I have raised with the police and parliamentary authorities.”

A Conservative Party spokesperson said: “George Freeman MP has referred himself to the Parliamentary Standards Commissioner.

“It would be inappropriate for the Conservative Party to comment further whilst the commissioner’s inquiries are ongoing.”

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The Lib Dems and Labour called on Conservative leader Kemi Badenoch to suspend him, saying the incident bore a resemblance to the cash for questions scandal that engulfed John Major’s leadership in the 1990s.

A Labour spokesperson said: “Cash for questions was a hallmark of Tory sleaze in the 1990s, and three decades on the same issue has raised its head again.

“George Freeman has referred himself for investigation so now Kemi Badenoch must suspend him from the Tory whip.”

Liberal Democrat Deputy Leader Daisy Cooper added: “This looks like the same old sleaze and scandal people have come to expect from the Conservative Party.

“Kemi Badenoch should immediately suspend the whip from George Freeman while this is investigated.

“Failure to act would confirm that even after being booted out of government, the Conservatives are still hopelessly out of touch.”

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Nationally chartered bank SoFi rolls out crypto trading for US customers

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Nationally chartered bank SoFi rolls out crypto trading for US customers

US bank SoFi Technologies has launched crypto trading services to its customers, as clearer rules have allowed the crypto market to court greater interest from traditional finance.

SoFi said on Tuesday that its crypto service will aim to offer dozens of cryptocurrencies, including Bitcoin (BTC) and Ether (ETH), and started in a phased rollout on Monday, with more customers able to gain access in the coming weeks. 

SoFi CEO Anthony Noto told CNBC’s Squawk Box on Tuesday that his bank is the first and only nationally chartered bank to launch crypto trading to consumers and was spurred to do so after the Office of the Comptroller of the Currency (OCC) eased its stance on how banks can engage with crypto in March.

“One of the holes we’ve had for the last two years was in cryptocurrency, the ability to buy, sell, and hold crypto. We were not allowed to do that as a bank. It was not permissible,” he said. 

Source: Anthony Noto

SoFi withdrew from the crypto industry in 2023 as a condition of obtaining a bank charter in a stricter regulatory environment. The bank returned to crypto in June, when it rolled out international payment options, allowing conversions from fiat to crypto and transmission via the blockchain. 

Blockchain and crypto a “super cycle technology”

SoFi also plans to introduce SoFi USD, a stablecoin backed dollar-for-dollar by reserves, and integrate crypto into its lending and infrastructure services for borrowing and faster payments.