Contributions
1,763 recent contributions in Hansard
HANSARDFinancial Services Bill (Sixth sitting)To the right hon. Gentleman’s point, the UK has not legislated a date by which to update the prudential regime in this Bill, because it is most important that our regulators get…24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)Well, whatever the enduring reversion environment is in the EU following the end of this special measure. I will be happy to write to the right hon. Gentleman on that, but the key…24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)I am happy to restate what I said. We have inherited an environment and indeed we have been obliged—quite reasonably—to absorb into law where the EU has got to at the end of the…24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)Yes. I am very happy to confirm that that communication will be made available to the whole Committee. Amendment 32 agreed to. Schedule 4, as amended, agreed to. Ordered , That…24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)I have listened carefully to the points made by the hon. Lady, who touches on a wide range of subjects, some of which I responded to in my response to the shadow Minister. I would…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)Schedule 1 complements clause 1, in so far as it makes consequential amendments to the Capital Requirements Regulation 2013 and the Capital Requirements (Country-by-Country…24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)In addressing this amendment, I want to start by saying that the Government are fully committed to ensuring that this greater delegation of responsibility to the regulators is…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)I am grateful for those questions, and I shall seek to bring some clarity. The right hon. Member for Wolverhampton South East asked me two questions about the numbers. I cannot…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)As ever, the UK remains committed to the highest level of regulatory standards. The UK is also committed to better regulation—regulation that is fit for purpose and appropriate to…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)I am very happy to respond to that point and I thank the hon. Lady for her comments. I recognise her expertise, particularly on high-cost credit, and I look forward to—I…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)I am very happy to have another go. The hon. Lady is at risk of suggesting that there is somehow a clumsy, rushed delegation to regulators and a risk that—in that delegation—the…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)I would like to take this opportunity, at the beginning of the Committee scrutiny stage, to say what a pleasure it is to serve under your chairmanship, Mr Davies, and to consider…24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)Chaired.24 Nov 2020HANSARDLondon Capital and Finance: FCA InvestigationOn 23 May 2019, I laid a direction before Parliament using the powers conferred by sections 77(1) and (2) and 78(5) and (6) of the Financial Services Act 2012 (“the Act”) and set…24 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q I understand from your written evidence that, as a body, you have some reservations about the setting of conduct rules at an international level. Would you like to say a bit…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q Good to see you, Duncan. You have offered a wide-ranging critique on general aspects of anti-money laundering and anti-corruption matters. You rightly draw attention to the FATF…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q In your comments to the shadow Minister you referred to the glacial speed of activity in the UK, but we have, as you have acknowledged, now transposed the fifth anti-money…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Always! Duncan Hames: For example, there is the reform of Companies House, to ensure it can verify the accuracy of the data that is on the UK registers.19 Nov 2020HANSARDFinancial Services Bill (Third sitting)Q Thanks for giving evidence, Susan. Following the December 2018 Financial Action Task Force mutual evaluation on the UK, which was pretty positive, there were a few elements that…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q The consultation is under way on that. Duncan Hames: Indeed. I think we have recently completed a consultation on it, and I hope, therefore, that it will be in the Queen’s…19 Nov 2020