UK Parliament / Open data

Financial Services (Market Abuse)

Debate on Tuesday, 19 June 2012, in the House of Commons, led by Mark Hoban.
Debate on a motion that this House takes note of European Union Documents No. 16010/11 and Addenda 1 and 2, relating to a Draft Regulation on insider dealing and market manipulation (market abuse), No. 16000/11 and Addenda 1 and 2, relating to the Draft Directive on criminal sanctions for insider dealing and market manipulation, and No. 8253/12, relating to the European Central Bank Opinion on market abuse legislation; recognises that an efficient financial market that aids economic growth requires market integrity and public confidence; welcomes the UK’s leading role in combating market abuse; and supports the Government’s decision not to opt-in to the Criminal Sanctions Directive until it is clear that related provisions within the Markets in Financial Instruments Directive Review and the Market Abuse Regulation are further progressed in order to enable the Government to evaluate the implications for the UK, and ensure high standards in tackling market abuse are maintained. Agreed on question.
Type
Parliamentary proceeding
Reference
546 cc820-836 
Session
2012-13
Department
Treasury
Chamber / Committee
House of Commons chamber
Proceeding contributions
Mark Hoban | 546 c824 (Link to this contribution)

I beg to move,

That this House takes note of European Union Documents No. 16010/11 and Adde...

William Cash | 546 c824 (Link to this contribution)

I am sure my hon. Friend is in no way trying to divert attention away from the fact that jurisdic...


Show all contributions (25)
Mark Hoban | 546 c825 (Link to this contribution)

I am not sure I agree with my hon. Friend. I do not want to be diverted along that path, but I po...

William Cash | 546 c825 (Link to this contribution)

I did not talk about the extent of the criminal sanctions. I talked about the question of general...

Mark Hoban | 546 cc825-7 (Link to this contribution)

My hon. Friend missed out on the opportunity that I and the hon. Member for Nottingham East (Chri...

Chris Leslie | 546 c827 (Link to this contribution)

The Minister is giving a lucid and paced description of Government policy. Let me cut to the chas...

Mark Hoban | 546 c827 (Link to this contribution)

At the moment, let me clarify the position by saying that we have not opted in. As I was saying, ...

Chris Leslie | 546 cc827-8 (Link to this contribution)

This is indeed an important debate. Market abuse, insider dealing and market manipulation are iss...

William Cash | 546 c828 (Link to this contribution)

In the context of acronyms, I wanted to draw the hon. Gentleman’s attention to the fact that the ...

Chris Leslie | 546 cc828-830 (Link to this contribution)

I am grateful to the hon. Gentleman for showing that sanity is sometimes tested in these debates....

Jacob Rees-Mogg | 546 cc830-2 (Link to this contribution)

I refer Members to my declaration of interests, as I am still actively involved in financial mark...

William Cash | 546 cc832-3 (Link to this contribution)

I thoroughly endorse almost everything my hon. Friend the Member for North East Somerset (Jacob R...

Jacob Rees-Mogg | 546 c833 (Link to this contribution)

I am grateful to my hon. Friend for giving way. No, that is not what I think. I think that the Go...

William Cash | 546 c833 (Link to this contribution)

In that case we are, as so often, ad idem and in agreement, and I am glad to hear that confirmati...

Baroness Primarolo | 546 c833 (Link to this contribution)

Order. The hon. Gentleman took some time to set his intended comments in context, which I allowed...

William Cash | 546 c833 (Link to this contribution)

I was referring to opt-ins, which are very much matters before us at this juncture. I am saying t...

Baroness Primarolo | 546 c833 (Link to this contribution)

Order. It is not for the hon. Gentleman to disagree with me. He thought that he was covering the ...

William Cash | 546 cc833-4 (Link to this contribution)

Well, to put it simply, the Committee is concerned that the Government might opt into the draft c...

Jacob Rees-Mogg | 546 c834 (Link to this contribution)

My hon. Friend has come to the absolute crux of the matter. Once we opt into something, it is the...

William Cash | 546 cc834-5 (Link to this contribution)

I am deeply grateful for the support of my hon. Friend, who is also a member of the European Scru...

Mark Hoban | 546 c835 (Link to this contribution)

I will respond briefly to the hon. Member for Nottingham East (Chris Leslie) and to my hon. Frien...

Jacob Rees-Mogg | 546 c836 (Link to this contribution)

I am extremely grateful to the Minister. I have just one question. What advantage is there to opt...

Mark Hoban | 546 c836 (Link to this contribution)

We have an interest in ensuring that criminal sanctions are applied across Europe if we think the...

EC documents
16010/2011;16000/11;8253/2012
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