My Lords, I am sorry that the noble Lord does not think that the matter has been satisfactorily explained. All I can say is that it has been explained and was debated at great length when we took the Financial Services Bill through the House. Martin Wheatley made it clear that the operational objectives are the key drivers for the FCA’s actions. After taking legal advice, the FCA has subsequently written and confirmed that it is happy with the strategic objective. On that basis, we are happy that the FCA is happy and wish to retain it.
Financial Services (Banking Reform) Bill
Proceeding contribution from
Lord Newby
(Liberal Democrat)
in the House of Lords on Tuesday, 15 October 2013.
It occurred during Committee of the Whole House (HL)
and
Debate on bills on Financial Services (Banking Reform) Bill.
Type
Proceeding contribution
Reference
748 c508
Session
2013-14
Chamber / Committee
House of Lords chamber
Subjects
Librarians' tools
Timestamp
2013-12-20 04:30:46 +0000
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