 In January 2014, he dismissed the sum of £250,000 spent on MPs' portraits as trivial by saying "I'm all for saving money, saving money right, left and centre, but this is chicken feed".In December 2014, Rees-Mogg was reported to the Independent Parliamentary Standards Authority for speaking in debates on tobacco, mining, and oil and gas without first verbally declaring he was a founding partner and director of Somerset Capital, which manages multimillion-pound investments in these sectors.The Parliamentary Commissioner for Standards, Kathryn Hudson, decided that no wrongdoing had been committed and thus no investigation would take place.