Contributions
145 recent contributions in Hansard
HANSARDFinancial Services and Markets BillI am probably the only Member of this House who has been a member of the Regulatory Decisions Committee and I might have some observations to make.06 Jun 2023HANSARDFinancial Services and Markets BillMy Lords, I apologise for missing the introduction from the noble Lord, Lord Tyrie; I was caught out by the Whips’ rearrangement of business. Fortunately, I read his pamphlet on…06 Jun 2023HANSARDFinancial Services and Markets BillMy Lords, as a founding member of the Regulatory Decisions Committee of the Financial Services Authority who served from 2001 to 2006, I reflect on the fact that at that time the…06 Jun 2023HANSARDFinancial Services and Markets BillMy Lords, I will address the amendments proposed by the noble Viscount, Lord Trenchard. In some way, they are part of the whole privileging of the competitiveness objective, but I…06 Jun 2023HANSARDFinancial Services and Markets BillI suggest to the noble Viscount that, in fact, the whole corpus of international soft law on finance is generally known in the trade as the international standards, and those who…06 Jun 2023HANSARDFinancial Services and Markets BillIf the Whips had not rearranged the business so peremptorily, one would not have been caught out.06 Jun 2023HANSARDFinancial Services and Markets BillMy Lords, I will make two points on these technical amendments. As the Minister said, central counterparties are fundamental institutions in maintaining the stability of financial…06 Jun 2023HANSARDFinancial Services and Markets BillMy Lords, these three amendments project a peculiar background, which is an issue that this Committee debated in an earlier session—that of accountability. The first amendment of…21 Mar 2023HANSARDFinancial Services and Markets BillMy Lords, it is obvious that the issue of pension funds investing in equities and longer-term growth prospects was highlighted by the LDI crisis in the autumn. I hope that, when…21 Mar 2023HANSARDFinancial Services and Markets BillMy Lords, I support the amendment from my noble friend Lord Leong. I was a bit shocked to discover that factoring companies are not regulated through the FCA. My discovery of this…21 Mar 2023HANSARDFinancial Services and Markets BillMy Lords, on the point made by the noble Lord, Lord Holmes, surely these regulations are derived from the Financial Action Task Force. We would usurp international agreements if…21 Mar 2023HANSARDFinancial Services and Markets BillMy Lords, I will make two general comments about these amendments—first, on Amendment 218 in the name of the noble Lord, Lord Holmes. When I was chairman of the Jersey Financial…21 Mar 2023HANSARDFinancial Services and Markets BillMay I comment on the issue of stress tests, which the Minister also raised during Questions this afternoon? You can stress test only risks that you know are there. It depends on…21 Mar 2023HANSARDBritish Banking SectorMy Lords, I found the noble Baroness’s position on the current status of the banking system to exhibit extreme complacency. Is she aware that Credit Suisse was very highly…21 Mar 2023HANSARDBudget StatementMy Lords, I am sure the whole House is grateful to the noble Baroness, Lady Penn, for introducing this important debate. We all look forward with interest and, as a professional…16 Mar 2023HANSARDRugby: 200th AnniversaryMy Lords, the Minister will be aware that in the past nine months two Premiership rugby clubs have collapsed. He will also be aware that several Premiership clubs and some…15 Mar 2023HANSARDFinancial Services and Markets BillWould the Minister indulge me for a moment? I have been intrigued by her discussion of the role of digitisation. I refer to Amendment 184, tabled by my noble friend Lord…07 Mar 2023HANSARDFinancial Services and Markets BillMy Lords, I regret that I was not able to take part at Second Reading as I was working in the United States. I hope I have the indulgence of the Committee to make some comments on…01 Mar 2023HANSARDAutumn Statement 2022My Lords, over the past three months, the Government have subjected the British economy to two episodes of extreme foolishness. First came the Truss-Kwarteng episode, going for…29 Nov 2022HANSARDAutumn Statement 2022I know that the Minister would not want to mislead the House, so I was very surprised by her figures on government investment. I looked up the OBR figures and, as a share of GDP,…29 Nov 2022