Contributions
2,622 recent contributions in Hansard
HANSARDHMRC: Tax ReturnsThat is an incredibly good question. I think I was probably waiting for about 20 minutes. Of course, I had no problem with that because I was able to do other things. Had I been…10 Jan 2024HANSARDNatWest: Account Terminations and Branch ClosuresI have to disagree, because that is exactly what we did, by making the change in the Financial Services and Markets Act. We are now putting that into place. Now, of course, we…10 Jan 2024HANSARDFinancial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023That the draft Order and Regulations laid before the House on 7 November be approved. Relevant document: 3rd Report from the Secondary Legislation Scrutiny Committee. Considered…18 Dec 2023HANSARDFinancial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023My Lords, these regulations amend the exemptions from the financial promotion regime for high net worth individuals and self-certified sophisticated investors. I note that this…13 Dec 2023HANSARDFinancial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023Once again, I am grateful to both noble Lords for their contributions to this short debate. I will write further on what the noble Lord, Lord Sharkey, said about the formula—it is…13 Dec 2023HANSARDFinancial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023I am grateful to both noble Lords for their contributions to this short debate. The noble Lord, Lord Sharkey, asked why we are doing this in two debates rather than one. I do not…13 Dec 2023HANSARDFinancial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023That the Grand Committee do consider the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023. Relevant document: 3rd Report from the…13 Dec 2023HANSARDFinancial Services and Markets Act 2023 (Benchmarks and Capital Requirements) (Amendment) Regulations 2023That the Grand Committee do consider the Financial Services and Markets Act 2023 (Benchmarks and Capital Requirements) (Amendment) Regulations 2023. Relevant document: 3rd Report…13 Dec 2023HANSARDFinancial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023My Lords, these two instruments make updates to financial services regulation to ensure that it remains effective following the passage of the Financial Services and Markets Act…13 Dec 2023HANSARDFinancial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023That the Grand Committee do consider the Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023.13 Dec 2023HANSARDPayment and Electronic Money Institution Insolvency (Amendment) Regulations 2023That the draft Regulations laid before the House on 25 October be approved. Considered in Grand Committee on 6 December .13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsActually, I would flip that around the other way. I had a long conversation with the head of ESG at the FCA about this, and it is the public and investors in pension schemes who…13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsI completely agree with my noble friend. Private equity is all about risk and returns, and not all firms will succeed in perpetuity. That is the way of a capitalist market, and it…13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsI am afraid that the noble Lord speaks about things I have no knowledge of.13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsI am not aware that there was a question there—but if the noble Lord wants to send his sympathies, I am sure they will have been heard.13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsI accept that the AI regulatory system is still in development, but that is not unique to the United Kingdom. The AI summit convened by the Prime Minister made good steps in the…13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsI have not been following those interventions from the former governor, the noble Lord, Lord King, but I shall certainly look at them.13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsThe noble Lord mentions a situation I am not aware of, but I will say that all owners of UK companies must abide by the Companies Act and their obligations therein.13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsI would not wish to speculate; however, I am not sure it would have been good things.13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsMy Lords, there are £250 billion of private equity assets under management in the UK, versus £10.3 trillion of total assets under management. It is a smaller part of the financial…13 Dec 2023