Financial Services and Markets Bill

My Lords, as this is the first day of Committee, I declare my interests as recorded in the regist...

My Lords, I share the views of the noble Lord, Lord Sharkey, to a large extent, but I agree with ...

My Lords, I want to lend some support to the noble Lord, Lord Sharkey, for raising the issue of p...

My Lords, I too congratulate the noble Lord, Lord Sharkey, on his amendment. I agree with his exp...

My Lords, I was one of the 34 who took part in the debate on secondary legislation, and I previou...

My Lords, for the purposes of Committee I declare my interests in the register, in particular as ...

My Lords, I thank the noble Baroness, Lady Noakes, for pointing out that the process here differs...

My Lords, I have just one brief point. I agree with the comments so far made that this may not be...

My Lords, I must agree with every word that the noble and learned Lord, Lord Thomas, has just sai...

My Lords, I too thank the noble Lord, Lord Sharkey, for tabling his amendment and provoking this ...

My Lords, I will speak first to Amendments 1, 244 and 245, before turning to the government amend...

I am sorry to interrupt, but perhaps the Minister could clarify something we discussed before. Wh...

No, that is not what I am saying; I am saying that we will have procedures in place to allow Parl...

The Minister has said that the use of Treasury powers under this Clause will normally be subject ...

My Lords, standing here at this Dispatch Box, I would offer only a government view. I view it as ...

I was interested in what my noble friend said about a forward look. Can she explain a little more...

In short, the approach is set out in Building a Smarter Financial Services Framework for the UK, ...

Does that represent a comprehensive analysis of what the Government expect to happen to all the r...

No, it does not. This comes back to the point about prioritisation. It represents the Government’...

May I ask again for a bit more clarification, which I specifically asked for on Amendment 28? Is ...

My understanding is that Amendment 28 contains powers to provide for amending secondary legislati...

That would be very helpful. Before the Minister leaves Amendment 28, can she say whether she disc...

No, that discussion was not had. The powers are constrained in that they relate to the provisions...

I thank all noble Lords who have spoken. I did ask the Minister about the Treasury’s assertion, o...

Moved by

Baroness Penn

2: Schedule 1, page 94, line 12, at end insert—

“Officia...

Moved by

Baroness Worthington

21: Schedule 2, page 124, line 12, leave out paragraph ...

My Lords, I am very pleased to speak to this group of amendments this afternoon, having sadly bee...

I shall seek to remember where I was in my speech. I was talking about international co-ordinatio...

My Lords, I will speak to the amendments from the noble Baroness, Lady Worthington. I do not supp...

My Lords, I congratulate the noble Baroness, Lady Worthington, on venturing into commodities. I r...

My Lords, I will speak very briefly to the amendments tabled by the noble Baroness, Lady Worthing...

My Lords, I will not make a long speech on this group, largely because I do not have the knowledg...

My Lords, I will begin by speaking to government Amendments 26 and 191 to 195 in my name, and Ame...

I thank the Minister. Unless she is going to in a moment, she did not specifically refer to Amend...

If I may drag the Minister back to where she was just finishing off, in her response to me and th...

It might be wise for me to write to the noble Baroness to address that specific point. Under the ...

The Minister has been very helpful, but I will ask the question that I think the noble Lord, Lord...

There is no sunset clause on this power, just as there is no sunset clause on the powers in Claus...

My Lords, I am genuinely grateful to the Minister for her response, which was very helpful and co...

Moved by

Baroness Penn

26: Schedule 2, page 126, line 39, at end insert—

“PART ...

I beg to move.

Moved by

Baroness Penn

28: Clause 3, page 3, line 15, at end insert—

“(aa) auth...

Moved by

Baroness Penn

29: Clause 6, page 6, line 39, at end insert “, and

“(ii...

Moved by

Baroness Noakes

30: Clause 8, page 8, line 4, at beginning insert “If the co...

My Lords, in moving Amendment 30 I will also speak to Amendments 31 and 34 in this group. Amendme...

My Lords, I support all the amendments in this group introduced by my noble friend Lady Noakes, t...

My Lords, I shall speak to Amendment 32 in name, which is part of this group, although it points ...

As usual, I have forgotten where I was in my perorations, so the Committee might get a few words ...

My Lords, I am not going to repeat what my noble friends Lady Noakes and Lord Trenchard have said...

My Lords, I have some questions which arise from what the noble Baroness, Lady Noakes, said. If w...

My Lords, I fear that if we were to follow the amendment from the noble Viscount, Lord Trenchard,...

I am a little surprised that the noble Baroness is taking my name in vain here. My amendment is n...

I apologise; it was the noble Baroness, Lady Noakes. I have attacked the wrong conspirator, as it...

I am not persuaded by the amendments in this group, apart from the one from my noble friend Lord ...

My Lords, I shall briefly address government Amendment 33 in this group before I turn to the othe...

My Lords, I thank my noble friend the Minister for her comprehensive reply to this short debate. ...

Moved by

Baroness Penn

33: Clause 8, page 10, line 31, after “provided” insert “by de...

Moved by

Baroness Noakes

36: Clause 12, page 19, line 25, at end insert—

“(4) O...

My Lords, Amendment 36 would delete some subsections from Section 4 of the Bank of England Act 19...

My Lords, my noble friend has just described what Amendment 36 probes and the power it is seeking...

My Lords, I rather thought I would get that answer—that the power has never been used—because I c...

Moved by

Baroness Noakes

37: Clause 18, page 29, leave out lines 34 to 36 and insert—...

My Lords, I understand regulators’ desire to have more insight into the risks that critical third...

My Lords, I shall speak only very briefly, because I have a great deal of sympathy with the propo...

I thank my noble friend Lady Noakes for her amendment. It is a good opportunity to talk about the...

My noble friend correctly anticipates how I intend to conclude my remarks. We will return to this...