Contributions
1,161 recent contributions in Hansard
HANSARDDomestic Infrastructure: Chinese OwnershipMy noble friend is absolutely right.23 Jan 2019HANSARDMarket Abuse (Amendment) (EU Exit) Regulations 2018That the Grand Committee do consider the Market Abuse (Amendment) (EU Exit) Regulations 2018.23 Jan 2019HANSARDMoney Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2018That the Grand Committee do consider the Money Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2018.23 Jan 2019HANSARDMoney Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2018My Lords, I am grateful to all noble Lords who have taken part in this debate, particularly my noble friend, with his background as a Member of the European Parliament. I agree…23 Jan 2019HANSARDMoney Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2018I will read out the exact words in my brief: “Are these SIs for a no-deal scenario only? This legislation would not come into effect in March 2019 in the event of an…23 Jan 2019HANSARDMoney Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2018I am grateful to the noble Baroness. The last thing we want is to have any turbulence at the point of transition or to have legitimate transactions held up. The FCA will be…23 Jan 2019HANSARDMoney Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2018My noble friend will know that when we leave the EU, the obligation that we already have will be transferred. Thereafter, looking to the future, we will no longer be bound by EU…23 Jan 2019HANSARDMoney Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2018The noble Lord has repeated what I meant to say: at the point of transfer, the existing EU regime is on our statute book. We will no longer be bound by future directives so there…23 Jan 2019HANSARDMarket Abuse (Amendment) (EU Exit) Regulations 2018My Lords, as this instrument has been grouped I will speak also to the Credit Rating Agencies (Amendment) (EU Exit) Regulations 2019. The Treasury has been undertaking a programme…23 Jan 2019HANSARDMarket Abuse (Amendment) (EU Exit) Regulations 2018The FCA has been consulted about these regulations. If there were a no-deal scenario, I am advised that it has the necessary resource capacity to effectively carry out its new…23 Jan 2019HANSARDMarket Abuse (Amendment) (EU Exit) Regulations 2018My Lords, the chief executive of the FCA, Andrew Bailey, has said that he expects to hold FCA fees steady for a year or so, assuming that there is an implementation period.…23 Jan 2019HANSARDMarket Abuse (Amendment) (EU Exit) Regulations 2018They will continue to have to pay a fee, so to that extent there will be no change, but instead of it going to ESMA, it will go to the FCA. Furthermore, the SI will require firms…23 Jan 2019HANSARDMarket Abuse (Amendment) (EU Exit) Regulations 2018My Lords, I am grateful to all noble Lords who have taken part in this debate and I notice that neither the noble Baroness, Lady Bowles, nor the noble Lord, Lord Tunnicliffe, have…23 Jan 2019HANSARDMarket Abuse (Amendment) (EU Exit) Regulations 2018We would expect the EU regulators to intervene and investigate market abuse in an EU trading venue of a UK-related instrument. We would expect it to take the lead. The provision…23 Jan 2019HANSARDMarket Abuse (Amendment) (EU Exit) Regulations 2018It is a very good question, and the answer is that we do not have the exact information as to the exact turnover or number of people employed in the CRAs. I will make further…23 Jan 2019HANSARDDomestic Infrastructure: Chinese OwnershipMy Lords, we welcome Chinese inward investment into the civil nuclear projects in the UK, as the noble Lord mentions, subject to our robust legal, regulatory and national security…23 Jan 2019HANSARDDomestic Infrastructure: Chinese OwnershipMy Lords, the Government take seriously any national security risks arising from the ownership of infrastructure assets and systems, and assess those risks on a case-by-case…23 Jan 2019HANSARDMoney Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2018My Lords, this statutory instrument, laid under the EU withdrawal Act 2018, is part of the legislative programme that the Treasury is undertaking to ensure that there continues to…23 Jan 2019HANSARDDomestic Infrastructure: Chinese OwnershipOf course we should work closely with our allies, but it is just worth pointing out that some of our allies have a different legal framework. Australia, for example, has a law…23 Jan 2019HANSARDBrexit: Stability of the UnionMy Lords, if that was the speech of a novice, we look forward to hearing from the noble Lord when he finds his length. I am grateful to all noble Lords who have taken part in this…17 Jan 2019