Treasury Management Advice (TMA) tender and award contracts 2002-2015

The request was partially successful.

Dear Sheffield City Council,

Please provide copies of the tender specifications, assessment notes and awarded contracts for 'Treasury Management Advice' (TMA) services, tendered by council between 2002-2015.

Please also provide receipts, notes and payment records for a) TMA services and b) LOBO loan brokerage and restructuring undertaken during this period.

Additionally, please confirm if council was made aware, either prior to, or following the Iceland banking scandal, that your Treasury Management Advisor(s) were receiving substantial commission fees on Market Debt aka LOBO loans brokered by Tullet Prebon and the ICAP Group? - commission which fundamentally compromised the TMAs contractual commitment to provide advice "solely in the best interests of the council."

If this conflict of interest was known by council, please provide details of the relevant risk register, or conflict of interest logs, which show how this issue was managed by council and
addressed within your contract procurement/ contract management systems?

Yours faithfully,

Joel M Benjamin

FOI, Sheffield City Council

Re – Freedom of Information Request – Reference – FOI / 3559
 
Dear Joel M Benjamin
 
Thank you for your recent request for information relating to Tenders for
Treasury Management Advice Services which we received on 20/02/2017.
 
This has been logged as a Freedom of Information Request, and will be
dealt with under the Freedom of Information Act.  The reference number for
your request can be found above.
 
The Freedom of Information Act states that we must respond to you within
20 working days, therefore, you should expect to hear a response from us
by 20/03/2017.
 
In the meantime, if you have any queries please contact us on the number
below.
 
Thank you.
 
Yours sincerely,
 
Resources Business Support
Moorfoot Level 8 West Wing
Sheffield S1 4PL
Tel : 0114 20 53478
E-mail : [1][Sheffield City Council request email]
? Please don't print this e-mail unless you really need to
 
 
 
_____________________________________________
From: Joel M Benjamin
[[2]mailto:[FOI #390870 email]]
Sent: 20 February 2017 23:54
To: FOI
Subject: Freedom of Information request - Treasury Management Advice (TMA)
tender and award contracts 2002-2015
 
Dear Sheffield City Council,
 
Please provide copies of the tender specifications, assessment notes and
awarded contracts for 'Treasury Management Advice' (TMA) services,
tendered by council between 2002-2015.
 
Please also provide receipts, notes and payment records for a) TMA
services and b) LOBO loan brokerage and restructuring undertaken during
this period.
 
Additionally, please confirm if council was made aware, either prior to,
or following the Iceland banking scandal, that your Treasury Management
Advisor(s) were receiving substantial commission fees on Market Debt aka
LOBO loans brokered by Tullet Prebon and the ICAP Group? - commission
which fundamentally compromised the TMAs contractual commitment to provide
advice "solely in the best interests of the council."
 
If this conflict of interest was known by council, please provide details
of the relevant risk register, or conflict of interest logs, which show
how this issue was managed by council and addressed within your contract
procurement/ contract management systems?
 
Yours faithfully,
 
Joel M Benjamin
 
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FOI, Sheffield City Council

1 Attachment

Re – Freedom of Information Request – Reference – FOI / 3559

 

Dear Joel M Benjamin,

 

Thank you for your recent request for information relating to Tenders for
Treasury Management Advice Services which we received on 20/02/2017.

 

Please find below and attached, Sheffield City Council’s response to your
request:

 

Please find attached Sheffield City Council’s response to your FOI request
3559. Please note that within this response redactions have been made and
relevant exemptions have been applied as noted below.

 

In respect to the links to information already available to the public via
the whatdothey.com website; as this information is accessible by other
means it is exempt from disclosure under Section 21(1) of the Freedom of
Information Act 2000.

 

We have redacted some information within the attached document under
Section 40(2) of the Freedom of Information Act 2000. We consider that the
relevant information, names and signatures of Council and supplier staff
are personal details of those individuals and the release of this
information under an FOIA response could lead to a breach of Principle 1
of the Data Protection Act 1998 – that personal data will be processed
both fairly and lawfully.

 

Also redacted is information considered under Section 31(1) of the Freedom
of Information Act where the redaction of that information is to ensure
the disclosure does not prejudice the prevention and/or detection of
crime. In this case we have redacted specific account details of the
Council and suppliers to ensure that such information cannot be utilised
for fraudulent activities by misrepresentation or alternate related
crimes. In this consideration we do have to appreciate that an FOIA
disclosure is a disclosure to the world as large rather than to one
specific individual. In this case we believes that the public interest
test weights in the balance of protecting the relevant information to
prevent any potential fraudulent use.

 

Finally as noted in the documentation attached, we have not provided
details of some correspondence as this is considered to be commercially
sensitive in regard to the Council and our service provider. We believe
release we do hold  a duty of confidence in relation to this
correspondence and the disclosure under an FOIA response would disclose
information which may benefit other organisation and harm the relationship
between the Council and our supplier. As a result we consider these
documents are exempt from disclosure under Sections 41(1) information
provided in confidence and 43(2) commercial interests. In consideration of
the public interest test we believe the balance favours the application of
the exemption in this case.

 

I hope the information we have provided is of help to your enquiries.  If
you have any queries about this response, please do not hesitate to
contact us.

 

If you are unhappy with the response you have received in relation to your
request, you are entitled to have this reviewed.  You can ask for an
internal review by either writing to the above address or by emailing
[1][Sheffield City Council request email].

 

If you remain dissatisfied with the outcome of your internal review, you
can contact the Information Commissioners Office. The Information
Commissioner can be contacted at: The Information Commissioner's Office,
Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF, telephone 0303 123
1113, or for further details see their website [2]www.ico.org.uk

 

Kind Regards,

 

Resources Business Support

Moorfoot Level 8 West Wing

Sheffield S1 4PL

Tel : 0114 20 53478

E-mail : [3]FOI @sheffield.gov.uk

 Please don't print this e-mail unless you really need to

 

 

_____________________________________________

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