Contributions
1,586 recent contributions in Hansard
HANSARDFinancial Services Bill (First sitting)Q Are there any international competitors that you think have struck the correct balance with a regulation that you would want to see us take on here? Simon Hills: I think there…17 Nov 2020HANSARDCovid-19 Autumn 2020 Lockdown: Newborn BabiesMany low-income families have struggled to make ends meet during lockdown. Families with babies under one are entitled to Healthy Start vouchers of only £6.20 a week, which is not…17 Nov 2020HANSARDFinancial Services Bill (First sitting)Q So when the EU makes its regulations, and it goes ahead with what is in its interests, essentially you would want us to mirror the EU wherever possible? Simon Hills: We would…17 Nov 2020HANSARDFinancial Services Bill (First sitting)Q Are there any further measures that you expected to see, or would have liked to see, in the Bill? Simon Hills: Shall I go first and talk about the prudential regulation of…17 Nov 2020HANSARDFinancial Services Bill (Second sitting)Thank you very much.17 Nov 2020HANSARDFinancial Services Bill (Second sitting)Q You have talked about the importance of having clear and effective regulation, which all of us around the table can probably agree with. Have you any concerns about the…17 Nov 2020HANSARDFinancial Services Bill (First sitting)Q I have some follow-up questions. You mentioned how the FCA will determine these things. Do you feel that that needs to be set out quite explicitly in the Bill—how the FCA will…17 Nov 2020HANSARDFinancial Services Bill (Second sitting)Q That is fair enough. I was trying to get at whether there is stronger ground if it is in legislation, rather than dependent on rules, for any disputes that might arise. Adam…17 Nov 2020HANSARDFinancial Services Bill (First sitting)Q Okay, that is useful. I have been looking through some of the lawyers’ statements and I would be grateful if you could clarify something for me, as this is not an area of…17 Nov 2020HANSARDFinancial Services Bill (First sitting)You mentioned the uncertainty of how the FCA makes decisions around LIBOR contracts and benchmarking. Do you feel that needs to be set out more explicitly in the Bill so that you…17 Nov 2020HANSARDFinancial Services Bill (First sitting)Okay. I will leave some questions for colleagues.17 Nov 2020HANSARDFinancial Services Bill (Second sitting)Q I have had it flagged via Macmillan that they think there is a bit of a weakness in the FCA’s reliance on guidance. They are arguing for a legal duty of care for all financial…17 Nov 2020HANSARDFinancial Services Bill (Second sitting)Q Is there an argument for continuing the accounts and allowing them to keep earning some interest, rather than closing them after four years? Peter Tutton: I think that is a good…17 Nov 2020HANSARDFinancial Services Bill (First sitting)Q On the risk of a cliff edge, Nausicaa Delfas of the FCA said that financial services face a cliff-edge situation in January. She raised particular issues with derivatives…17 Nov 2020HANSARDCovid-19 Autumn 2020 Lockdown: Newborn BabiesWhat steps he is taking to support the healthcare needs of babies and families during the covid-19 outbreak.17 Nov 2020HANSARDFinancial Services Bill (Second sitting)Q Can I ask about help to save accounts? I think there is somewhere in the region of 222,000 of those accounts, with about £85 million in them, and you are dealing with people who…17 Nov 2020HANSARDFinancial Services Bill (Second sitting)That is useful. Thank you.17 Nov 2020HANSARDFinancial Services Bill (Second sitting)Q Lastly, is there anything more that you can tell me about the impact of equivalence decisions within your sector? Gurpreet Manku: Equivalence is important for us as well. I…17 Nov 2020HANSARDFinancial Services Bill (Second sitting)Q With regard to the point that you made about legacy contracts and LIBOR, to follow up on the questions I put to Chris Cummings of the Investment Association earlier, do you…17 Nov 2020HANSARDFinancial Services Bill (First sitting)Q And the potential cost of litigation? Paul Richards : It is impossible to estimate the cost of litigation. The great thing is to avoid it wherever you can, and the Bill presents…17 Nov 2020