Moved by
Baroness Hayter of Kentish Town
26: Clause 49, page 30, line 36, at end insert—
“( ) In every contract to supply a service, traders who are ring-fenced bodies providing financial services as defined under section 142A of the Financial Services and Markets Act 2000 (ring-fenced body) shall be subject to—
(a) a fiduciary duty towards its consumers in the operation of core services to provide these with reasonable care and skill as well as in the management of any individual contract to provide services; and
(b) a duty of care towards consumers across the financial services sector.”