To ask His Majesty's Government what is the status of the new Treasury offices being built in Darlington; and whether Treasury officials planned to be based there will be relocated to Manchester.

To ask His Majesty's Government what is the status of the new Treasury offices being built in Darlington; and whether Treasury officials planned to be based there will be relocated to Manchester.

I am making this statement on behalf of the Prime Minister to bring to the attention of the House the following changes to the Machinery of Government.

Today, we are fundamentally rewiring the state, changing the geography of government to deliver a stronger, more strategic centre that empowers local leaders, and...

I am making this statement on behalf of the Prime Minister to bring to the attention of the House the following changes to the Machinery of Government.

Today, we are fundamentally rewiring the state, changing the geography of government to deliver a stronger, more strategic centre that empowers local leaders, and...

To ask His Majesty's Government, further to the Written Answer by the Economic Secretary to the Treasury on 28 May (2785), whether they will publish the (1) Prime Minister's, (2) Deputy Prime Minister’s, and (3) Chancellor of the Exchequer's, tax return for 2024–25 prior to changes in administration.

To ask His Majesty's Government, further to the Written Answer by the Economic Secretary to the Treasury on 28 May (2785), whether they will publish the (1) Prime Minister's, (2) Deputy Prime Minister’s, and (3) Chancellor of the Exchequer's, tax return for 2024–25 prior to changes in administration.

Moved by

Lord Massey of Hampstead

144A: After Clause 28, insert the following new Clause—

“Appointed representatives: impact assessment

(1) Before any provision of this Act relating to the appointed representatives regime comes into force, the FCA must conduct and publish an impact assessment of the effect of those provisions on—

(a) the number of...

Moved by

Lord Massey of Hampstead

144A: After Clause 28, insert the following new Clause—

“Appointed representatives: impact assessment

(1) Before any provision of this Act relating to the appointed representatives regime comes into force, the FCA must conduct and publish an impact assessment of the effect of those provisions on—

(a) the number of...

My Lords, I should again declare my interest as chairman of Canaccord Genuity Wealth Management, as set out in the register of interests, although I should also state that Canaccord has no appointed representatives, which is the subject of this amendment.

I do not oppose these reforms in principle, although we...

My Lords, I should again declare my interest as chairman of Canaccord Genuity Wealth Management, as set out in the register of interests, although I should also state that Canaccord has no appointed representatives, which is the subject of this amendment.

I do not oppose these reforms in principle, although we...

My Lords, I will say a few words in support of my noble friend Lord Massey’s amendment. We should not forget that many of these small firms coming into the market are to be valued in Britain’s highly competitive industry—until there was too much regulation, perhaps—and we rely on them....

My Lords, I will say a few words in support of my noble friend Lord Massey’s amendment. We should not forget that many of these small firms coming into the market are to be valued in Britain’s highly competitive industry—until there was too much regulation, perhaps—and we rely on them....

My Lords, we support the questions that this probing amendment is asking. My noble friend Lord Massey of Hampstead has put forward a sensible and important amendment, because it asks the Government and the FCA to consider the practical effects of the Bill’s changes on appointed representatives before those changes...

My Lords, we support the questions that this probing amendment is asking. My noble friend Lord Massey of Hampstead has put forward a sensible and important amendment, because it asks the Government and the FCA to consider the practical effects of the Bill’s changes on appointed representatives before those changes...

My Lords, I am grateful to the noble Lord for raising the importance of ensuring that measures to make the appointed representatives regime safer do not undermine the benefits provided by that regime. This amendment would require the FCA to publish an impact assessment before the measures can take effect.

I...

My Lords, I am grateful to the noble Lord for raising the importance of ensuring that measures to make the appointed representatives regime safer do not undermine the benefits provided by that regime. This amendment would require the FCA to publish an impact assessment before the measures can take effect.

I...

I thank the Minister for his response and take reassurance that some of the measures that I raised have been dealt with already by the FCA, as it has—hopefully—assessed the impact of these quite significant changes, which, as I mentioned at the beginning, do add to regulation, rather than taking...

I thank the Minister for his response and take reassurance that some of the measures that I raised have been dealt with already by the FCA, as it has—hopefully—assessed the impact of these quite significant changes, which, as I mentioned at the beginning, do add to regulation, rather than taking...

Tabled by

Lord Stockwood

145: Clause 29, page 34, line 32, leave out “is in force” and insert “has effect”

Member’s explanatory statement

This amendment would make section 55AA(4) of the Financial Services and Markets Act 2000 consistent with section 55A(3) of that Act (as amended by this clause).

Tabled by

Lord Stockwood

145: Clause 29, page 34, line 32, leave out “is in force” and insert “has effect”

Member’s explanatory statement

This amendment would make section 55AA(4) of the Financial Services and Markets Act 2000 consistent with section 55A(3) of that Act (as amended by this clause).

I beg to move.

I beg to move.

Not content.

Not content.

I am merely keeping to what I said on the first Committee day.

I am merely keeping to what I said on the first Committee day.

Moved by

Baroness Neville-Rolfe

146: After Clause 31, insert the following new Clause—

“Review of notification arrangements for previously approved senior managers

(1) Within 12 months of the day on which this Act is passed, the Treasury must lay before Parliament a report on whether the new notification framework for senior manager appointments could...

Moved by

Baroness Neville-Rolfe

146: After Clause 31, insert the following new Clause—

“Review of notification arrangements for previously approved senior managers

(1) Within 12 months of the day on which this Act is passed, the Treasury must lay before Parliament a report on whether the new notification framework for senior manager appointments could...

My Lords, Amendment 146, in my name and that of my noble friend Lord Altrincham, is a modest and probing amendment. It follows the discussion we had last week on speeding up the senior management and certification regime. It does not seek to change the regime immediately. It would require...

My Lords, Amendment 146, in my name and that of my noble friend Lord Altrincham, is a modest and probing amendment. It follows the discussion we had last week on speeding up the senior management and certification regime. It does not seek to change the regime immediately. It would require...

My Lords, I am always in favour of trying to provide streamlining, and this amendment offers a common-sense approach to that. However, an issue that I want to take up with the noble Baroness, Lady Neville-Rolfe, is that the focus of the FCA should always be on new hires, not...

My Lords, I am always in favour of trying to provide streamlining, and this amendment offers a common-sense approach to that. However, an issue that I want to take up with the noble Baroness, Lady Neville-Rolfe, is that the focus of the FCA should always be on new hires, not...

My Lords, I rise quickly to support this amendment, which is exactly the sort of streamlining amendment we are looking to achieve in this Bill. I politely take issue with the remarks of the noble Baroness, Lady Kramer, on people such as Fred Goodwin, Jes Staley or the Reverend Flowers....

My Lords, I rise quickly to support this amendment, which is exactly the sort of streamlining amendment we are looking to achieve in this Bill. I politely take issue with the remarks of the noble Baroness, Lady Kramer, on people such as Fred Goodwin, Jes Staley or the Reverend Flowers....

My Lords, I am grateful to the noble Baroness, Lady Neville-Rolfe, for tabling this amendment. The Government agree that the regime should operate more proportionately where that can be done without undermining accountability—in fact, that is what the Bill aims to do. The core objective of these reforms is to...

My Lords, I am grateful to the noble Baroness, Lady Neville-Rolfe, for tabling this amendment. The Government agree that the regime should operate more proportionately where that can be done without undermining accountability—in fact, that is what the Bill aims to do. The core objective of these reforms is to...

My Lords, I am grateful to my noble friend Lord Massey for his support and to the Minister for his assurance that administrative burdens will be reduced by these changes. Of course, quite a lot of that is down to the dropping of the certification regime, which we have welcomed....

My Lords, I am grateful to my noble friend Lord Massey for his support and to the Minister for his assurance that administrative burdens will be reduced by these changes. Of course, quite a lot of that is down to the dropping of the certification regime, which we have welcomed....

Moved by

Baroness Noakes

152: Clause 37, page 43, line 10, leave out “section 408A” and insert “sections 408A or 408B”

Member’s explanatory statement

This amendment requires the Treasury to consult the regulators about regulations which designate countries or territories for recognition.

Moved by

Baroness Noakes

152: Clause 37, page 43, line 10, leave out “section 408A” and insert “sections 408A or 408B”

Member’s explanatory statement

This amendment requires the Treasury to consult the regulators about regulations which designate countries or territories for recognition.