Compensation Bill [HL]

I am grateful to the noble Lord for raising an entirely valid point; consumer protection is paramount. These services should indeed be provided economically and efficiently, and they seem to me to be the guiding principle of regulation. I am happy to accept in principle that they should appear in the Bill. I will take the amendment away to consider further, and I will bring something forward on Report. In addition, something to this effect will appear in the regulator’s rules and code of practice. I am being equally brief. We will bring something back; it is just that the drafting does not quite work as it stands.