Debate on bill on Tuesday, 13 June 2023, in the House of Lords, led by Lord Harlech and Baroness Penn. The answering members were Baroness Chapman of Darlington and Lord Livermore.

Financial Services and Markets Bill

Lords report stage third day. Amendment 91 agreed to on division (212 to 203). Amendments 95 to 97 agreed to. Amendment 104 disagreed to on division (192 to 210). Amendment 106 disagreed to on division (184 to 188). (Part 1 of 2).

Secondary information

Type: Parliamentary proceeding
Reference: 830 cc1841-1910
Session: 2022-23
Department: Treasury
Legislative stage: Report stage
Procedure: Government defeats; New clauses
Chamber / Committee: House of Lords chamber
Related items: Financial Services and Markets Bill; Mobile Homes (Pitch Fees) Bill; Water Safety (Curriculum) Bill (HL); Education (Non-religious Philosophical Convictions) Bill (HL). Delegated Powers and Regulatory Reform Committee twenty-third report.
Wednesday, 18 January 2023
Parliamentary committees
House of Lords; Financial Services and Markets Bill 2022-23. As amended in Grand Committee.
Thursday, 23 March 2023
Bills
House of Lords; Financial Services and Markets Bill
Tuesday, 13 June 2023
Parliamentary proceedings
House of Lords
Proceeding contributions: Baroness Boycott | 830 c1842 (Link to this contribution)
Moved by
Baroness Boycott
91: After Clause 65, insert the following new Clause—; Baroness Boycott | 830 c1842 (Link to this contribution)
We debated this amendment last Tuesday but it has taken until today to get to the vote. Needless ...; Lord Vaux of Harrowden | 830 c1842 (Link to this contribution)
Moved by
Lord Vaux of Harrowden
94: Clause 68, page 85, line 9, at end insert—
...; Lord Vaux of Harrowden | 830 cc1842-8 (Link to this contribution)
My Lords, I introduced a number of amendments on the subject of authorised push payments fraud in...; Baroness Bowles of Berkhamsted | 830 cc1848-9 (Link to this contribution)
My Lords, I support this amendment and I can be relatively brief. It is important not only to col...; Lord Naseby | 830 c1849 (Link to this contribution)
My Lords, this amendment has to be seen in the context of the statement by the Payment Systems Re...; Lord Livermore | 830 cc1849-1850 (Link to this contribution)
My Lords, the Payment Systems Regulator is now putting in place requirements to ensure more consu...; Baroness Penn | 830 cc1850-1 (Link to this contribution)
My Lords, the Government and the Payment Systems Regulator recognise the importance of regular, r...; Lord Vaux of Harrowden | 830 cc1851-2 (Link to this contribution)
My Lords, I thank all those who have taken part in this debate, particularly the Minister for her...; Baroness Penn | 830 c1852 (Link to this contribution)
Moved by
Baroness Penn
95: After Clause 71, insert the following new Clause—
“A...; Baroness Penn | 830 cc1852-3 (Link to this contribution)
Moved by
Baroness Penn
96: After Clause 71, insert the following new Clause—
“P...; Baroness Penn | 830 cc1854-5 (Link to this contribution)
My Lords, there has been significant discussion throughout the passage of this Bill, and more bro...; Lord Forsyth of Drumlean | 830 cc1855-6 (Link to this contribution)
My Lords, when I went home after the last time we discussed accountability of the regulators to P...; Lord Moylan | 830 cc1856-8 (Link to this contribution)
My Lords, I shall speak to my Amendment 105 in this group. I express enormous gratitude to my nob...; Baroness Hayter of Kentish Town | 830 cc1858-9 (Link to this contribution)
My Lords, it is exactly three months ago today that we debated this issue in Committee, when the ...; Lord Sharkey | 830 cc1859-1860 (Link to this contribution)
My Lords, I have added my name to Amendment 105 in the name of the noble Lord, Lord Moylan, and I...; Viscount Trenchard | 830 c1860 (Link to this contribution)
My Lords, I declare my interest as a director of two investment companies, as stated in the regis...; Lord Clarke of Nottingham | 830 c1860 (Link to this contribution)
I will not make a speech giving my experience of American Express, but it is remarkably like that...; Lord Naseby | 830 c1861 (Link to this contribution)
I will take my noble friends’ points further. My experience was identical to that of my noble fri...; Viscount Trenchard | 830 c1861 (Link to this contribution)
Both my noble friends have a much more sensible approach to this matter.
I echo the other r...; Lord Eatwell | 830 cc1861-2 (Link to this contribution)
My Lords, we seem to be predominantly discussing personal experiences at the moment, so I declare...; Baroness Kramer | 830 c1862 (Link to this contribution)
My Lords I rise because this amendment allows me to do two things that I do not do very often. On...; Earl of Erroll | 830 cc1862-3 (Link to this contribution)
My Lords, I should like to add to this because I have had enough trouble with the PEPs issue for ...; Lord Naseby | 830 c1863 (Link to this contribution)
My Lords, the noble Lord, Lord Eatwell, mentioned the Crown dependencies. I want to ask my noble ...; Baroness Chapman of Darlington | 830 c1863 (Link to this contribution)
My Lords, I accept that we are politically exposed people—of course we are—and we can be bribed, ...; Baroness Penn | 830 cc1863-5 (Link to this contribution)
My Lords, I reiterate what the noble Baroness, Lady Chapman, has just said: our approach in this ...; Baroness Penn | 830 c1865 (Link to this contribution)
Moved by
Baroness Penn
97: After Clause 71, insert the following new Clause—
“P...; Earl Attlee | 830 cc1865-6 (Link to this contribution)
Moved by
Earl Attlee
98: After Clause 71, insert the following new Clause—
“Wit...; Earl Attlee | 830 cc1866-8 (Link to this contribution)
My Lords, I will also speak to my Amendments 99 and 100. In Committee, I moved an amendment simil...; Viscount Trenchard | 830 cc1868-9 (Link to this contribution)
My Lords, I declare an additional interest as stated in the register as a provider of geostrategi...; Baroness Kramer | 830 c1869 (Link to this contribution)
My Lords, we should thank the noble Earl, Lord Attlee, for raising a set of significant issues. I...; Baroness Penn | 830 cc1869-1870 (Link to this contribution)
My Lords, as I set out previously in Grand Committee, I commend my noble friend Lord Attlee for h...; Earl Attlee | 830 c1870 (Link to this contribution)
I am sorry to interrupt the Minister, but it was not the Government’s ESG policy that had caused ...; Baroness Penn | 830 c1870 (Link to this contribution)
I understand the point that my noble friend makes, but I think that is rather a matter for the ba...; Earl Attlee | 830 c1870 (Link to this contribution)
My Lords, I am grateful for the response of my noble friend the Minister. I detect a little bit o...; Earl Attlee | 830 c1870 (Link to this contribution)
Moved by
Earl Attlee
102: After Clause 71, insert the following new Clause—
“Pe...; Earl Attlee | 830 c1871 (Link to this contribution)
My Lords, during my research into the money laundering problems identified in the previous group,...; Baroness Kramer | 830 c1871 (Link to this contribution)
My Lords, this is an issue that I have raised in the House before, having run into the same set o...; Lord Harlech | 830 cc1871-2 (Link to this contribution)
My Lords, the Government recognise the importance of ensuring that SMEs are able to access approp...; Earl Attlee | 830 c1872 (Link to this contribution)
My Lords, I am particularly grateful to the noble Baroness, Lady Kramer, for her intervention, wh...; Lord Forsyth of Drumlean | 830 c1873 (Link to this contribution)
Moved by
Lord Forsyth of Drumlean
103: After Clause 71, insert the following new Clau...; Lord Forsyth of Drumlean | 830 cc1873-4 (Link to this contribution)
My Lords, I will speak to Amendment 103 in my name. It is supported by my noble friend Lord Bridg...; Lord Bridges of Headley | 830 cc1875-6 (Link to this contribution)
My Lords, I will speak very briefly and I apologise for being late.
The Governor of the Ban...; Baroness Altmann | 830 cc1876-7 (Link to this contribution)
My Lords, I too apologise to the House for being late.
I have added my name to my noble fri...; Baroness Kramer | 830 c1877 (Link to this contribution)
My Lords, I had the privilege of serving on the Economic Affairs Committee, with the noble Lord, ...; Lord Livermore | 830 cc1877-8 (Link to this contribution)
My Lords, we welcome the amendment in the name of the noble Lord, Lord Forsyth, which has enabled...; Baroness Penn | 830 cc1878-9 (Link to this contribution)
My Lords, I thank my noble friends Lord Forsyth and Lord Bridges for their leadership in the Hous...; Lord Forsyth of Drumlean | 830 c1879 (Link to this contribution)
My noble friend has made valid arguments for not putting the amendment, as drafted, in the Bill. ...; Baroness Penn | 830 c1879 (Link to this contribution)
I am afraid that I am not in a position to commit to my noble friend’s suggestion. I hope that th...; Lord Forsyth of Drumlean | 830 c1879 (Link to this contribution)
My Lords, once again, my noble friend has gone beyond what we might expect in responding to the d...; Baroness Chapman of Darlington | 830 c1879 (Link to this contribution)
Moved by
Baroness Chapman of Darlington
104: After Clause 71, insert the following ne...; Baroness Chapman of Darlington | 830 c1879 (Link to this contribution)
My Lords, we are pleased to bring back Amendment 104. I am grateful to the noble Baronesses, Lady...; Lord Naseby | 830 c1881 (Link to this contribution)
I declare an interest as trustee of the Parliamentary Contributory Pension Fund. As a trustee, bu...; Baroness Hayman | 830 c1881 (Link to this contribution)
My Lords, I support this amendment, which fits very well alongside the discussions we had on the ...; Baroness Bowles of Berkhamsted | 830 cc1881-2 (Link to this contribution)
My Lords, I added my name to this amendment and suggested the inclusion of the Pension Protection...; Lord Eatwell | 830 cc1882-3 (Link to this contribution)
My Lords, this is not just a good amendment, it is a very important and timely one. Noble Lords w...; Lord Blackwell | 830 c1883 (Link to this contribution)
My Lords, I am concerned that, while seemingly innocuous, this amendment might turn out to be the...; Lord Davies of Brixton | 830 cc1883-4 (Link to this contribution)
My Lords, I support the amendment. I still think of myself as a relatively new Member of the Hous...; Baroness Altmann | 830 cc1884-6 (Link to this contribution)
My Lords, I fully support and have added my name to this amendment. It is a pleasure to follow th...; Baroness Kramer | 830 c1886 (Link to this contribution)
My Lords, I speak from these Benches on behalf of my party, as a group of realists. The current G...; Baroness Penn | 830 cc1886-8 (Link to this contribution)
My Lords, the Government welcome the further discussions that this debate has given us the opport...; Baroness Chapman of Darlington | 830 c1888 (Link to this contribution)
My Lords, I am grateful to everyone who has taken part in this debate. The Minister’s response wa...; Baroness Kramer | 830 c1889 (Link to this contribution)
Moved by
Baroness Kramer
106: After Clause 71, insert the following new Clause—; Baroness Kramer | 830 cc1889-1893 (Link to this contribution)
My Lords, in Committee the Minister reassured the House that the principles of ring-fencing and t...; Archbishop of Canterbury | 830 cc1893-4 (Link to this contribution)
My Lords, I have joined the noble Baroness in supporting her Amendment 106, as I did her two amen...; Baroness Bennett of Manor Castle | 830 cc1894-5 (Link to this contribution)
I will speak very briefly to offer Green support for the amendment in the name of the noble Baron...; Lord Davies of Brixton | 830 c1895 (Link to this contribution)
My Lords, I support the amendment. We will return to these issues on Thursday, when we discuss th...; Viscount Trenchard | 830 cc1895-6 (Link to this contribution)
My Lords, the noble Baroness, Lady Kramer, and the most reverend Primate have retabled as a singl...; Lord Eatwell | 830 cc1896-7 (Link to this contribution)
My Lords, I must say that, listening to the noble Viscount, Lord Trenchard, just now, I think he ...; Lord Livermore | 830 c1897 (Link to this contribution)
My Lords, we fully support the steps taken by the Treasury, the Bank and the regulators in relati...; Baroness Penn | 830 cc1897-9 (Link to this contribution)
My Lords, it has been over 10 years since the Independent Commission on Banking recommended impor...; Baroness Kramer | 830 cc1899-1900 (Link to this contribution)
I thank the Minister, but she has essentially repeated the speech she gave in Committee. At the t...; Lord Sharkey | 830 c1900 (Link to this contribution)
Moved by
Lord Sharkey
107: After Clause 71, insert the following new Clause—
“I...; Lord Sharkey | 830 cc1900-5 (Link to this contribution)
My Lords, I declare an interest as co-chair of the APPG on mortgage prisoners and I thank the nob...; Viscount Trenchard | 830 cc1905-6 (Link to this contribution)
My Lords, I am pleased again to support the noble Lord, Lord Sharkey, in his noble quest to prote...; Baroness Bennett of Manor Castle | 830 c1906 (Link to this contribution)
My Lords, I rise briefly, having spoken on this issue both in Committee and back in the last fina...; Baroness Chapman of Darlington | 830 cc1906-7 (Link to this contribution)
My Lords, we are grateful to the noble Lord, Lord Sharkey, for bringing back this amendment and f...; Baroness Penn | 830 cc1907-8 (Link to this contribution)
My Lords, I thank all noble Lords who have spoken in this debate, and in particular the noble Lor...; Lord Sharkey | 830 cc1908-9 (Link to this contribution)
I thank all noble Lords who have spoken in this customarily brief debate on mortgage prisoners. I...; Lord Harlech | 830 c1909 (Link to this contribution)
My Lords, I beg to move that further consideration on Report be now adjourned until 8.31 pm.; Lord Kennedy of Southwark | 830 c1909 (Link to this contribution)
My Lords, I do not think that the debate on our regret amendment is time-limited.; Lord Harlech | 830 c1910 (Link to this contribution)
My mistake. I did not mean to imply that it was time-limited. I meant to say that Report stage on...
Subjects: Complaints Consumers Defence Bank services Banks Fraud Finance Investment Financial services Forests Electronic funds transfer Interest rates Financial markets Protection Managers Money laundering Mortgages Pension funds Small businesses Regulation Tree felling Financial Conduct Authority Payment Systems Regulator Central bank digital currencies Politically exposed persons
Legislation: Financial Services and Markets Bill 2022-23
Link: View this Parliamentary proceeding on hansard.parliament.uk

Financial Services and Markets Bill

Secondary information

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