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1,831 recent contributions in Hansard
HANSARDPublic Service Pensions and Judicial Offices Bill [HL]29 Nov 2021HANSARDPublic Service Pensions and Judicial Offices Bill [HL]29 Nov 2021HANSARDPublic Service Pensions and Judicial Offices Bill [HL]29 Nov 2021HANSARDPublic Service Pensions and Judicial Offices Bill [HL]29 Nov 2021HANSARDPublic Service Pensions and Judicial Offices Bill [HL]29 Nov 2021HANSARDPublic Service Pensions and Judicial Offices Bill [HL]29 Nov 2021HANSARDPublic Service Pensions and Judicial Offices Bill [HL]29 Nov 2021HANSARDPublic Service Pensions and Judicial Offices Bill [HL]29 Nov 2021HANSARDPublic Service Pensions and Judicial Offices Bill [HL]My Lords, I will make a few very short closing remarks. I thank the noble Lords, Lord Davies and Lord Ponsonby, and the noble Baroness, Lady Janke, for their brief remarks. In…29 Nov 2021HANSARDPublic Service Pensions and Judicial Offices Bill [HL]29 Nov 2021HANSARDPublic Service Pensions and Judicial Offices Bill [HL]29 Nov 2021HANSARDHouse of Lords: Politically Exposed PersonsThe guidance provides clarity on how firms should apply the definitions of a PEP in the money laundering regulations in the UK context. This includes providing that firms should…25 Nov 2021HANSARDHouse of Lords: Politically Exposed PersonsI have a lot of sympathy with the issues raised by the noble Baroness. The Government are committed to tackling the threat posed in the UK by economic crime, but it is imperative…25 Nov 2021HANSARDHouse of Lords: Politically Exposed PersonsMy Lords, under the money laundering regulations, a politically exposed person—a PEP—is defined as an individual who is entrusted with prominent public functions, including…25 Nov 2021HANSARDHouse of Lords: Politically Exposed PersonsOf course, what we are talking about today is the behaviour of banks and firms and the proportionate nature of what they should be doing. I say in response to the question from…25 Nov 2021HANSARDHouse of Lords: Politically Exposed PersonsTo be upfront about it, the Treasury is responsible for the money laundering regulations but the regulations are not prescriptive in setting out how firms should carry out…25 Nov 2021HANSARDHouse of Lords: Politically Exposed PersonsIndeed. We are a strong member of the Financial Action Task Force, so we are in touch with other countries about what they do. As I said earlier, we have one of the strongest…25 Nov 2021HANSARDHouse of Lords: Politically Exposed PersonsAlthough the guidelines were updated in 2017, as the noble Lord will know, clearly there is more work to be done on the proportionate way in which PEPs can be handled. As the…25 Nov 2021HANSARDHouse of Lords: Politically Exposed PersonsAgain, this is further anecdotal evidence that has come forward. In line with the FCA guidance on PEPs, in lower-risk situations a firm may take measures to simplify the enhanced…25 Nov 2021HANSARDAge of Criminal Responsibility (Scotland) Act 2019 (Consequential Provisions and Modifications) Order 2021I start by thanking the noble Lord, Lord Bruce of Bennachie, and the noble and learned Lord, Lord Falconer, for their general support for this order. As I alluded to earlier, the…23 Nov 2021