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Financial Services and Markets Bill 2022-23

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Financial Services and Markets Bill 2022-23 (426)

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Lords consideration of Commons reason and amendments. Lords amendment 7 not insisted on and Commons amendments 7A, 7B and 7C in lieu agreed to. Lords amendment 10 not insisted on. Lords amendment 36 not insisted on and Commons amendment 36A in lieu agreed to.

Lead member
Baroness Penn
Answering member
Baroness Chapman of Darlington
Department
Treasury
Type
Debates on bills
Date
27 June 2023
Reference
831 cc605-615
House
House of Lords

Moved by

Baroness Penn

Member
Baroness Penn (Conservative)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 c605
House
House of Lords

My Lords, I beg to move Motion A and, with the leave of the House, will also speak to Motions B and C. I am grateful to all noble Lords for their considered scrutiny of the remaining issues in front of us today and throughout the Bill’s passage.

I will speak...

Member
Baroness Penn (Conservative)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 cc605-7
House
House of Lords

My Lords, I declare my interests as set out in the register, and will speak to Amendment 7A. I thank the Minister and her team for the considerable efforts that have been put in, since the Bill left this House, to find a way to respond positively to the issues...

Member
Baroness Hayman (Crossbench)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 cc607-9
House
House of Lords

My Lords, I will speak to Amendment 36, which was in my name and those of the noble Baronesses, Lady Sheehan and Lady Chapman, and the noble Lord, Lord Randall. I echo the words of the noble Baroness, Lady Hayman, by thanking the Minister very much for the time she...

Member
Baroness Boycott (Crossbench)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 cc609-610
House
House of Lords

My Lords, it is a great privilege to follow the noble Baronesses, Lady Boycott and Lady Hayman. I congratulate my noble friend the Minister on her diligence in trying to come to some solution to our demands. As we have just heard, it is not quite what we wanted but...

Member
Lord Randall of Uxbridge (Conservative)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 cc610-1
House
House of Lords

My Lords, I first pass on the apologies of my colleague and noble friend Lady Kramer, who is unable to be in her place; hence, you have me instead. I identify with the comments made by the noble Baronesses, Lady Hayman and Lady Boycott, and will not repeat them. Although...

Member
Baroness Bowles of Berkhamsted (Liberal Democrat)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 c611
House
House of Lords

My Lords, I want to comment on Motion B, which no one has addressed. I congratulate the Minister, her colleagues, the Bill team and all the Peers who have contributed to this 337-page whopper of a Bill, which has been broadly welcomed by all. I remind your Lordships of my...

Member
Lord Leigh of Hurley (Conservative)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 c612
House
House of Lords

My Lords, we on these Benches supported all three of the amendments that we are discussing today when we looked at them last time, including Amendment 7, which would expand the regulatory principle on net-zero emissions to include conservation and nature. We also voted for Amendment 36, imposing a duty...

Member
Baroness Chapman of Darlington (Labour)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 cc612-3
House
House of Lords

My Lords, I am grateful to noble Lords for the debate today, and I would like to address some of the points raised.

On the addition of the obligations under the Environment Act to the principle on climate change, I intended in my opening speech to clarify some of the language...

Member
Baroness Penn (Conservative)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 cc613-4
House
House of Lords

Moved by

Baroness Penn

Member
Baroness Penn (Conservative)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 c614
House
House of Lords

Moved by

Baroness Penn

Member
Baroness Penn (Conservative)
Type
Proceeding contributions
Date
27 June 2023
Reference
831 c614
House
House of Lords

Lords report stage first day. Amendments 2 to 6 agreed to. (Part 1 of 2).

Lead member
Lord Harlech; Baroness Penn
Answering member
Baroness Chapman of Darlington
Department
Treasury
Type
Debates on bills
Date
6 June 2023
Reference
830 cc1276-1334
House
House of Lords

My Lords, I am also grateful to the noble Lord, Lord Tyrie, for raising this important issue through Amendment 8. The Regulatory Decisions Committee, or RDC, takes contested enforcement decisions on behalf of the FCA where the FCA has not been able to settle a case with the relevant firm....

Member
Baroness Penn (Conservative)
Type
Proceeding contributions
Date
6 June 2023
Reference
830 cc1332-3
House
House of Lords

Moved by

Lord Sharkey

1: Clause 1, page 1, line 6, leave out subsection (1) and insert—

“(1) A Minister of the Crown may by regulation revoke or replace any legislation referred to in Schedule 1 provided that—

(a) a document containing a proposal for those regulations has been laid before each House of...

Member
Lord Sharkey (Liberal Democrat)
Type
Proceeding contributions
Date
6 June 2023
Reference
830 c1276
House
House of Lords

My Lords, I shall speak first to Amendment 1 and then to Amendments 116 and 117. The Bill gives the Ministers and regulators power to shape our financial services regimes, but it does not allow for any meaningful parliamentary scrutiny of the changes that Ministers and regulators may introduce into...

Member
Lord Sharkey (Liberal Democrat)
Type
Proceeding contributions
Date
6 June 2023
Reference
830 cc1280-2
House
House of Lords

My Lords, I declare my interests as a director of two investment companies as stated in the register. I listened with interest to the noble Lord, Lord Sharkey, in bringing forward his Amendment 1 and other amendments. I feel strongly, as he has suggested, that what has been agreed for...

Member
Viscount Trenchard (Conservative)
Type
Proceeding contributions
Date
6 June 2023
Reference
830 c1282
House
House of Lords

My Lords, I support Amendment 1. My noble friend Lord Hodgson of Astley Abbotts does not seem to be with us, but I have collaborated with him over the retained EU law Bill, and I know his views are that Parliament has been collectively losing control of its agenda and...

Member
Lord Hamilton of Epsom (Conservative)
Type
Proceeding contributions
Date
6 June 2023
Reference
830 cc1282-3
House
House of Lords

My Lords, I am a signatory to this amendment, although some quirk of technology has meant that my name does not appear on the Marshalled List today. I am delighted to join other noble Lords whose names are on the amendment. This is déjà vu all over again, as they...

Member
Lord Lisvane (Crossbench)
Type
Proceeding contributions
Date
6 June 2023
Reference
830 c1283
House
House of Lords

My Lords, I would just like to refer back to the fact that from 1992 to 1997, I had the privilege in the other place of being Chairman of Ways and Means and Deputy Speaker. At that time, I received considerable briefing from the Officers of the House and other...

Member
Lord Naseby (Conservative)
Type
Proceeding contributions
Date
6 June 2023
Reference
830 c1283
House
House of Lords