Contributions
1,563 recent contributions in Hansard
HANSARDFinancial Services and Markets Bill (Second sitting)How they have worked it out is on the website. Martin Coppack: It is published by the Bristol University Personal Finance Research Centre.19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Q Something on the face of the Bill that says that they have to do this. Mike Haley: And that they can. A lot of the time, organisations feel, rightly or wrongly, that they cannot…19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Thank you.19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Q I will be super quick. Do you think we need to see regulation of buy now, pay later firms? Paddy Greene: Absolutely. We need to see it and we need to see it very quickly. We are…19 Oct 2022HANSARDFinancial Services and Markets Bill (First sitting)Q For example, would you support new provisions in this Bill to facilitate data sharing agreements on financial crimes that extend beyond the banks to include fintechs, electronic…19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Q Would it be your recommendation to remove that from the Bill? Martin Taylor: Completely—just knock it out. I see no advantage in its existence.19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Q Thank you, Martin, for your candour. What risk could the intervention pose to financial stability and to the UK’s reputation and global competitiveness if left as it is? Martin…19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Q Could the deputy governor write to the Committee with an answer to that question? Sir Jon Cunliffe: I would be very happy to write something on—19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Q Thank you for your answer. Fraud is a huge issue, and I am sure we all have individual stories from constituents who have been impacted by it. I just wonder what else could have…19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Q You mentioned before the letter and the number of people supporting the “have regard” to financial inclusion. I wonder whether it is worth sharing with colleagues who the people…19 Oct 2022HANSARDFinancial Services and Markets Bill (First sitting)Q Would you welcome something else in the Bill to look at banks unlocking suspended accounts so that money can be used for fraud prevention? David Postings: There is provision to…19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Crypto. Sir Jon Cunliffe: We will bring out a regulatory framework for stablecoin, but I am very happy to write on how we see it, if that helps.19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Q Thank you both for your work in this area. Martin, you might have heard Sheldon from the FCA earlier trying to reassure us all that we do not need to have regard to financial…19 Oct 2022HANSARDFinancial Services and Markets Bill (First sitting)Q Okay. So, in general, would you welcome anything that we can do to strengthen provisions against fraud? David Postings: Yes.19 Oct 2022HANSARDFinancial Services and Markets Bill (First sitting)Q Good morning. Sheldon, I read a speech of yours before about financial inclusion; I know it is something you care about. On the Treasury Committee, we have had a conversation…19 Oct 2022HANSARDFinancial Services and Markets Bill (First sitting)Q It is not, but, in principle, something in the Bill to facilitate ways— David Postings: Anything that we can do as a country to stem fraud has got to be welcome.19 Oct 2022HANSARDFinancial Services and Markets Bill (Second sitting)Q And do you think there is a risk that if the invention powers are left, they could be perceived by markets as a threat to the independence of the Bank of England or the PRA? We…19 Oct 2022HANSARDFinancial Services and Markets Bill (First sitting)Q As we have discussed before, the current system is not working for everyone because too many people are excluded. We have also previously asked what happens to the customers who…19 Oct 2022HANSARDFinancial Services and Markets Bill (First sitting)Q David, may I ask you about the role of banks in tackling fraud? The legislation focuses narrowly on APP scams. Would you welcome the introduction of a broader national strategy…19 Oct 2022HANSARDEconomic UpdateDoes the Chancellor agree with the Prime Minister, who confirmed that the state pension would rise with inflation in April? If he does agree with her, can he commit himself to…17 Oct 2022