Contributions
222 recent contributions in Hansard
HANSARDFinancial Services and Markets Bill [HL]It goes without saying that there are many things on which I do not agree with the Labour Government of 2006, but we will leave that for another day. We believe that this is…29 Jun 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]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]We believe that the “have regards” give them the current position, which is that they should consult on the nature considerations. As my noble friend Lord Pitt-Watson mentioned,…29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]My business insured a million small businesses, so I think they are vital to the UK economy. Let me come back to the noble Baroness with a full answer on that. It is critical that…29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]Let me get back to the noble Baroness on that. I believe the amendments were trying to change and streamline the regulation, but I want to make sure I give a precise answer rather…29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]Unfortunately, the precise question was not asked in the consultation.29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, the accountability of our financial regulators is a serious matter, and Parliament rightly takes a close interest in how the FCA and PRA exercise their powers. We have…29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]I understand it, and I think I have demonstrated in the debate today and outside—I am looking forward to the meeting next week—that we remain open-minded. We are trying to achieve…29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]I believe that they still have to publish the full guidance, but let me come back with a written response on that. Turning to Amendments 90 and 92, the Government recognise the…29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]Could you repeat the question?29 Jun 2026HANSARDFinancial Services and Markets Bill [HL]I will have to come back to the noble Baroness. The broader requirement is that we are trying to streamline the process to take the regulatory burdens away. We recognise that we…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 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]To come back on that, we have heard the criticism of the FCA loud and clear. The intention is for further debates to come back to what we believe is the current state of oversight…24 Jun 2026HANSARDFinancial Services and Markets Bill [HL]I apologise. Can the noble Baroness repeat that?24 Jun 2026HANSARDFinancial Services and Markets Bill [HL]What the clause is trying to represent is that this is the starting point. There is definitely work to do and it needs to be improved.24 Jun 2026HANSARDFinancial Services and Markets Bill [HL]That is correct. Amendments 71 and 74 seek to require the FCA and the PRA, when preparing or revising their long-term strategies, to consult persons they consider would be…24 Jun 2026HANSARDFinancial Services and Markets Bill [HL]My Lords, I welcome the focus of the noble Baroness, Lady Kramer, on the vulnerabilities in the private credit system. Although the Government are clear that the growth of private…24 Jun 2026HANSARDFinancial Services and Markets Bill [HL]24 Jun 2026