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Proceeding contribution from Lord Newby (Liberal Democrat) in the House of Lords on Tuesday, 3 February 2009. It occurred during Debate on bill on Banking Bill.

Banking Bill

My Lords, I am grateful to the Minister for that reply. My concern is not simply that the matter be debated, which it will be, but that the responsibility for deciding on changes within banking regulation should not rest only with the noble Lord, Lord Turner. He is producing reports, but the responsibility for what happens should rest in no small measure with government and Parliament. A major problem that we have faced in recent years is that the FSA has not been seen to perform its functions as Parliament intended in the Financial Services and Markets Act 2000. Although we have great faith in the noble Lord, Lord Turner, we also have memories and will want to scrutinise the changes in the banking regime that the noble Lord will recommend. With that caveat, I beg leave to withdraw the amendment. Amendment 108 withdrawn.

Secondary information

Type
Proceeding contribution
Reference
707 c648 
Session
2008-09
Chamber / Committee
House of Lords chamber
Subjects
Disclosure of information Compensation Consumers Accountability Audit Assets Debts Bank services Banks Delegated legislation Advisory services Bank of England Finance Liability Financial institutions Insolvency Government assistance Financial Services Authority Holding companies Protection Payments Public interest Public sector Public expenditure Parliamentary scrutiny Loans Post offices Post Office Nationalisation Regulation Rural areas Treasury Financial Services Compensation Scheme National Loans Fund Financial Stability Committee Sunset clauses Retrospective legislation
Legislation
Banking Bill 2007-08 to 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk