Contributions
1,280 recent contributions in Hansard
HANSARDFinancial Services and Markets Bill (Ninth sitting)While taking nothing away from the hon. Member’s view, and indeed her experience in this space, I do not entirely share her pessimism that it is a one-way street and that the…03 Nov 2022HANSARDFinancial Services and Markets Bill (Ninth sitting)I am about to conclude, but I will give way.03 Nov 2022HANSARDFinancial Services and Markets Bill (Ninth sitting)There is a great deal of good evolution. I suspect that members on both sides of the Committee would say that it has come quite late in the process, but nevertheless there has…03 Nov 2022HANSARDFinancial Services and Markets Bill (Ninth sitting)I do understand that point, and I will take it away. We are all challenged by the wonderful two-factor authentication that even the parliamentary authorities require of us as we…03 Nov 2022HANSARDFinancial Services and Markets Bill (Ninth sitting)The Government do not support the new clause, but if I may make eyes at the Opposition, I would be very open to accepting an amendment about appalling hold music, as suggested by…03 Nov 2022HANSARDFinancial Services and Markets Bill (Ninth sitting)I will address both of those points. In terms of timing, the Government published, as the hon. Member knows, a consultation on the proposed approach to regulation in October 2021;…03 Nov 2022HANSARDFinancial Services and Markets Bill (Ninth sitting)It is a pleasure to serve under your chairmanship, Mr Sharma. It is always a pleasure to follow the hon. Member for Hampstead and Kilburn. I would like to add my recognition for…03 Nov 2022HANSARDFinancial Services and Markets Bill (Ninth sitting)I think that the hon. Member and I are at common cause in terms of what we are talking about. To make a wider point, I think we would all understand and aspire to a culture that…03 Nov 2022HANSARDFinancial Services and Markets Bill (Tenth sitting)I thank my hon. Friend the Member for North Warwickshire for bringing those matters to our attention. I do not quite accept his construction, but in his view he is seeking to make…03 Nov 2022HANSARDFinancial Services and Markets Bill (Tenth sitting)I will be brief in responding. The hon. Members for Glenrothes and for West Dunbartonshire raised an important issue, and I hear echoes of it from hon. Members who have often been…03 Nov 2022HANSARDFinancial Services and Markets Bill (Ninth sitting)I will be brief. The Government are committed to tackling fraud, and we recognise that it goes far wider than financial services. There absolutely should be a national strategy,…03 Nov 2022HANSARDFinancial Services and Markets Bill (Ninth sitting)Indeed. The Government will work with industry to remove the vulnerabilities that fraudsters exploit, we will work with intelligence agencies to shut down fraudulent…03 Nov 2022HANSARDFinancial Services and Markets Bill (Ninth sitting)I would never want to be unworthy in the hon. Lady’s eyes, so I am distressed that my offer to build consensus about how the police could best deploy their resources has, at this…03 Nov 2022HANSARDFinancial Services and Markets Bill (Tenth sitting)Without disagreeing with the hon. Lady, I will say that one person’s falling behind is another person’s different model of institutions. The Financial Services and Markets Act…03 Nov 2022HANSARDFinancial Services and Markets Bill (Tenth sitting)I give my hon. Friend that reassurance. It is imperative that the opportunities are fully seized, not just for SMEs, but for the transition economy. That is incredibly important…03 Nov 2022HANSARDFinancial Services and Markets Bill (Tenth sitting)I note that the hon. Lady declined to indicate her familiarity with the global green finance index, but I am very pleased to furnish her with my copy—regrettably, it is a hard…03 Nov 2022HANSARDFinancial Services and Markets Bill (Seventh sitting)I will speak first to clause 47, before turning to the many amendments and new clauses proposed by hon. Members. Although the transition towards digital payments brings many…01 Nov 2022HANSARDFinancial Services and Markets Bill (Seventh sitting)I thank the hon. Lady for those points. The powers that the regulators will have in relation to formerly authorised firms will mirror those that they have in relation to…01 Nov 2022HANSARDFinancial Services and Markets Bill (Seventh sitting)The clauses contain a mix of substantive and technical amendments to FSMA, which lists the functions and responsibilities of the FCA and the PRA and requires them to perform them…01 Nov 2022HANSARDFinancial Services and Markets Bill (Seventh sitting)Clause 51 introduces schedules 12 and 13. The UK insurance industry is the largest in Europe and the fourth largest in the world, managing investments of more than £1.8 trillion.…01 Nov 2022