Contributions
487 recent contributions in Hansard
HANSARDEconomic Crime and Corporate Transparency Bill (Second sitting)On a point of order, Sir Christopher. May I ask whether our proceedings are covered by parliamentary privilege?25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (Second sitting)Q Can I follow that up? I am grateful to Liam for raising this point. I think it is in scope. The case in relation to Chatham House is shocking, because of the cost to you as an…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (Second sitting)Q Are there any international examples of that working better, or is everybody as constrained as we are? Professor Heathershaw: On the Chatham House paper, two of our authors are…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q Lots of us are trying to get our brains around this. I had a session yesterday with a whole load of people in the crypto industry who tried to convince me that there is actually…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q So crypto is a bad thing, is it? It goes very quick. There is no friction. Nigel Kirby: Respectfully, I think that is a different question. You asked me to put my other hat on,…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q Okay, I hear that. I have one final thing to ask. Looking at your background, I see that you have spent a lot of time in the public enforcement realm. From that experience, and…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q So you think SARs are okay. Nigel Kirby: Just to be very clear, I am here from Lloyds Banking Group; I will answer this question from my former role at the NCA—from that…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q That has been really helpful on the information. I think that a slight amendment to what we are doing would help the GDPR issue. I want to take you back—I could not quite hear…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q It is interesting that in this sitting, we have got rather contradictory evidence. On the one hand, you, Nick, are saying that we are not getting enough information on the…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q Gurpreet, your written evidence is very negative. At one point, it states: “We do not think these proposed changes support the Bill’s central aim of reducing the use of limited…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q We welcome the Minister’s attempts to start bringing this into a regulatory framework. However, looking at the other aspects of money laundering and economic crime, the…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q This is really Liam’s question, but, because it is digital, the answer must be global, must it not? Andy Gould: Absolutely, yes.25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q And that is really hard. Andy Gould: Yes.25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q Can you give that again? Jonathan Hall: Yes, I will. It is clause 10Z7B(7).25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q I want to follow on from that, because I am taking it a bit wider than crypto in two areas. After the 7/7 horror, we put our all into counter-terrorism and we now have a…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Ukraine gives one a sort of focus on the worst aspects of dirty money, but are we really being as comprehensive as you were when you did the counter-terrorism stuff there?…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (First sitting)Q I will ask you just one more question, which is a little bit off piste. The Bill puts new duties on lawyers to ensure that they can be fined if they engage in work that…25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (Second sitting)I think so, yes. I am no lawyer—God, I am looking around the table for a lawyer.25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (Second sitting)Q But the AML supervision still remains with HMRC. Martin Swain : Yes.25 Oct 2022HANSARDEconomic Crime and Corporate Transparency Bill (Second sitting)Q Martin Swain, I think that many of us on both sides of the Committee think not that it has to be more regulation, but that it has to be smarter regulation. If there are…25 Oct 2022