Contributions
222 recent contributions in Hansard
HANSARDFinancial Services and Markets Bill [HL]We are trying to be balanced and proportionate here. I recognise that these are important issues but, at the same time, it is about ensuring that the regulator has the flexibility…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]We are happy to have that conversation. We believe that the framework we have set out is the right one: it balances that ability to have oversight with the flexibility that we…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, I am grateful to the noble Lord, Lord Holmes of Richmond, for Amendments 126 and 127, and for raising the important issues of innovation, inclusion and the future shape…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]The point I was making is that the structure that exists today gives the effective governance that we believe is required. We are open to a conversation about the noble Baroness’s…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, we turn to the important topic of the accountability of the financial services regulators. I am grateful to the noble Baroness, Lady Bowles of Berkhamsted, and the noble…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, the Government agree that cost-benefit analysis sits at the heart of good regulation, and are committed to ensuring that the FCA and PRA are transparent and rigorous…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]The noble Lord makes an important point, but the regulator does not have that power. Only the Treasury can grant that power to increase the timelines.01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]I will have to write to the noble Baroness, because that is a very detailed question.01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, I am grateful to the noble Baronesses for these amendments, and I have listened carefully to the points made today. The principle of ensuring that the regulators take a…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, the Government share the views of many in this debate, particularly on the importance of ensuring that the secondary growth and competitiveness objectives are…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]I think this requires some further detail. It is an affirmative power that the Treasury has to regulate, but I will write to the noble Lord in full to make sure that he…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]I understand that the regulator does not have the power to increase deadlines without our consent.01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]Let me come back to the noble Lord with that data; I had it in the original draft, but it seems that we have passed it out. I will write to the noble Lord over the coming days.…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, I thank the noble Baronesses and the noble Lord for the proposed amendments. These are both important topics. I continue to listen and will definitely try to continue to…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, I am grateful to the noble Baroness, Lady Neville-Rolfe, and the noble Lords, Lord Altrincham and Lord Holmes, for tabling these amendments on statutory deadlines for…01 Jul 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, I am thankful to noble Lords for their contributions. I specifically welcome the noble Lord, Lord Reay, who is making his first contribution on the Bill from the Front…29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, this will be the first of many groups where we discuss the frameworks that the regulators operate under, so I will say a few words about that framework before turning to…29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, I begin by explaining the Government’s purpose behind Clause 18 and why it should stand part of the Bill. Over time many reporting and procedural requirements have been…29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]I cannot pre-empt the timing of that report, but I will come back to the noble Baroness and have a follow-up meeting to get the specific details. I do not want to give her the…29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]They are not the same thing. The approach we are trying to take is to streamline duplication while not in any way detracting from the overall process. That is the principle we are…29 Jun 2026