Contributions
1,763 recent contributions in Hansard
HANSARDDraft Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019I beg to move, That the Committee has considered the draft Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019. It is a great…19 Feb 2019HANSARDDraft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019I am grateful for both points. I will first respond to the hon. Member for Wallasey. I assure her that the regulation will onshore and will not create any cliff-edge risks around…19 Feb 2019HANSARDDraft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019The hon. Lady will know, from her two years as Exchequer Secretary between 2007 and 2009, that in this sort of context it is unrealistic for me to read out the rationale behind…19 Feb 2019HANSARDDraft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019I will, however, write to her to explain how we have used it. I acknowledge her scepticism about the situation. The hon. Member for Oxford East raised a point about the definition…19 Feb 2019HANSARDDraft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019I beg to move, That the Committee has considered the draft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019. May I start by saying what a pleasure it…19 Feb 2019HANSARDDraft Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019I thank the hon. Member for Oxford East for her examination of the points that have arisen. I will initially address her concerns about the appropriateness of the judgments that…19 Feb 2019HANSARDDraft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019I am happy to give way to the hon. Lady.19 Feb 2019HANSARDDraft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019I think, with the greatest respect, that the hon. Lady is getting two things muddled up. At this point, we are onshoring what already exists. We have a 24-month transition period…19 Feb 2019HANSARDDraft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019On the maintenance of benchmarks if they have been dropped from the ESMA register, I was going on to say that this SI enables the FCA to exercise judgment. It does not have to…19 Feb 2019HANSARDDraft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019I am grateful to the hon. Members for Oxford East and for Wallasey for their scrutiny of this measure, and I shall endeavour to answer the points made. On the general opening…19 Feb 2019HANSARDDraft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019Pensions.19 Feb 2019HANSARDDraft Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019Since 2015, the FCA has allocated £16 million to its Brexit onshoring exercise, which has ramped up to 158 full-time staff since March last year, when it had only 28. Following…19 Feb 2019HANSARDDraft Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019To be honest, I think the best thing is to write to the hon. Lady and set out my response clearly for the record, and also to make it available to the Committee. The hon. Lady…19 Feb 2019HANSARDExiting the European Union (Financial Services)My hon. Friend is right: 63% of the 1.1 million jobs in financial services are outside London. It is important that we have this provision in a no-deal situation. The hon. Member…18 Feb 2019HANSARDExiting the European Union (Financial Services)I have listened carefully to the hon. Members for Oxford East (Anneliese Dodds) and for Aberdeen North (Kirsty Blackman) and my hon. Friend the Member for Thirsk and Malton (Kevin…18 Feb 2019HANSARDExiting the European Union (Financial Services)There were typos.18 Feb 2019HANSARDExiting the European Union (Financial Services)indicated assent.18 Feb 2019HANSARDExiting the European Union (Financial Services)These SIs relate to a situation where we have no deal. So if there was not a deal or an implementation period after 29 March, these SIs would then take effect.18 Feb 2019HANSARDExiting the European Union (Financial Services)As the House will be aware, the Treasury has been undertaking a programme of legislation under the European Union (Withdrawal) Act 2018 to ensure that if the UK leaves the EU…18 Feb 2019HANSARDExiting the European Union (Financial Services)I will examine that and, if I may, I will come back to it and seek to clarify it when I wind up this debate. Both the Government and UK regulators attach very high priority to…18 Feb 2019