Compensation Bill [HL]

My Lords, I am very grateful to the Minister for sharing with the House what I thought was yesterday’s private meeting. I am glad that she has brought it to public notice, and I am sure that the same facility will be accorded to the noble Lord, Lord Goodhart. I took the opportunity to tell the Economic Secretary that I very much hoped that if the regulator was not to be the FSA, the FSA would give whoever is going to regulate the benefit of their expertise and experience in this area. Whoever it is to be, whether the OFT or the FSA, I believe that the Government are now listening to the representations being made. I am far more confident now than I ever was before that the Government are going to establish an independent and effective system of regulation by October. We will do everything we can to support the Government in that resolve. As part of the help, I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.