Contributions
2,217 recent contributions in Hansard
HANSARDAuthorised Push Payment Fraud Performance ReportMy Lords, I believe that an alternative route forward is already in train: the mandatory reimbursement requirement, which will apply across all payment service providers. As I…14 Nov 2023HANSARDAuthorised Push Payment Fraud Performance ReportAs the noble Lord has noted, a significant step towards ensuring greater consistency and user experience will be the mandating of reimbursement; we already have 10 signatories to…14 Nov 2023HANSARDAuthorised Push Payment Fraud Performance ReportAs I have said to noble Lords, through the Online Safety Act, platforms and services in scope will be required to take action to tackle fraud where it is facilitated through…14 Nov 2023HANSARDAuthorised Push Payment Fraud Performance ReportMy Lords, the Government are committed to tackling authorised push payment fraud and stopping customers falling victim to scams. The Government welcome the publication on 31…14 Nov 2023HANSARDAuthorised Push Payment Fraud Performance ReportMy Lords, it would be interesting to look at that and at how that data might be collected. The point at the heart of my noble friend’s question is absolutely right. Banks have a…14 Nov 2023HANSARDAuthorised Push Payment Fraud Performance ReportThe noble Lord is absolutely right that we need to use a range of tools to respond to fraud taking place through banking. The regulator does have the powers in place to ensure…14 Nov 2023HANSARDAuthorised Push Payment Fraud Performance ReportI congratulate the noble Lord, because he was a strong advocate for the publication of this data. As he says, it has indeed been revealing, and I assure noble Lords that action…14 Nov 2023HANSARDAlternative Investment Fund Managers Regulations 2013My Lords, I do remain satisfied and I believe that the Financial Services and Markets Act, which passed through this House earlier this year, updates the tools and framework for…13 Nov 2023HANSARDAlternative Investment Fund Managers Regulations 2013My Lords, the Government and the Financial Conduct Authority understand industry concerns regarding investment company cost disclosure requirements. The issue sits across multiple…13 Nov 2023HANSARDAlternative Investment Fund Managers Regulations 2013I reassure my noble friend that the FCA is indeed engaged in this issue, as are the Government. There are many problems with inherited EU financial services rules and we have set…13 Nov 2023HANSARDAlternative Investment Fund Managers Regulations 2013My Lords, I have not yet seen the details of my noble friend’s Private Member’s Bill, but I will look at it closely. The noble Baroness, Lady Kramer, is right that the noble…13 Nov 2023HANSARDKing’s SpeechMy Lords, I add my words of welcome to the right reverend Prelate the Bishop of Norwich and my noble friend Lord Gascoigne and congratulate them both on their maiden speeches. I…13 Nov 2023HANSARDAlternative Investment Fund Managers Regulations 2013My Lords, the operation of the consumer panel and other panels of the FCA is a matter for the FCA. I am sure that it draws on all its different panels, as appropriate, when taking…13 Nov 2023HANSARDAlternative Investment Fund Managers Regulations 2013My Lords, some of the issues that the noble Lord sets out are why it is important to take forward the programme of reform in a measured way that takes into account the interests…13 Nov 2023HANSARDKing’s SpeechI will be happy to write to the noble Baroness. We have launched a nuclear revival. The Government invested to become a shareholder in Sizewell C in November 2022 and launched a…13 Nov 2023HANSARDKing’s SpeechMy Lords, I could not possibly comment on that, but I join my noble friend in welcoming David Cameron to his new post. I think we will be very pleased to have someone of such…13 Nov 2023HANSARDAlternative Investment Fund Managers Regulations 2013My Lords, I agree with my noble friend in recognising that investment trusts play a vital role in raising capital for infrastructure projects across the UK. The FCA is of course…13 Nov 2023HANSARDAlternative Investment Fund Managers Regulations 2013My noble friend is absolutely right about ensuring that pension funds are invested in the future of British industry. In fact, this was the theme of my right honourable friend the…13 Nov 2023HANSARDAlternative Investment Fund Managers Regulations 2013My noble friend is absolutely right. The Government consulted extensively when the Alternative Investment Fund Managers Regulations were introduced. That was some time ago but, as…13 Nov 2023HANSARDAlternative Investment Fund Managers Regulations 2013My Lords, the FCA can apply forbearance when it comes to its rules, but it cannot when it comes to the law; it is for this House to amend the law. I set out that the Government…13 Nov 2023