The amendments in this group are technical and aim to clarify in the Bill the position of an "authorised person" or a "skilled person" with regard to certain information that would otherwise be subject to a contractual or other requirement to keep in confidence. The current crafting of new Section...

The amendments in this group are technical and aim to clarify in the Bill the position of an "authorised person" or a "skilled person" with regard to certain information that would otherwise be subject to a contractual or other requirement to keep in confidence. The current crafting of new Section...

My Lords, I wish to register my complete dismay at this whole swathe of the Bill being deleted in this arbitrary way by agreement between the Front Benches. As we move into an election phase, politicians of all parties will be going up and down the country meeting individuals and...

My Lords, I wish to register my complete dismay at this whole swathe of the Bill being deleted in this arbitrary way by agreement between the Front Benches. As we move into an election phase, politicians of all parties will be going up and down the country meeting individuals and...

I speak to Amendment 186. As I set out in respect of Amendment 336, I believe that a time limit on this clause would be beneficial, given the unique environment in which this legislation is being drafted.

I speak to Amendment 186. As I set out in respect of Amendment 336, I believe that a time limit on this clause would be beneficial, given the unique environment in which this legislation is being drafted.

I can give the amendments a warmer welcome than that and say that they seem sensible to us. The idea of committing a crime without realising that you are being a criminal is obviously very difficult. It is sensible that that is recognised in these amendments and we support them.

I can give the amendments a warmer welcome than that and say that they seem sensible to us. The idea of committing a crime without realising that you are being a criminal is obviously very difficult. It is sensible that that is recognised in these amendments and we support them.

My Lords, I completely understand the unhappiness of the noble Lord, Lord Whitty, with the deletion. Perhaps I may take a minute to explain the position of my party. At Second Reading, my noble friend Lord Henley set out our concerns with Clauses 18 to 25. They do not enshrine...

My Lords, I completely understand the unhappiness of the noble Lord, Lord Whitty, with the deletion. Perhaps I may take a minute to explain the position of my party. At Second Reading, my noble friend Lord Henley set out our concerns with Clauses 18 to 25. They do not enshrine...

My Lords, we seek to remove from the Bill the clauses relating to the FSA’s international remit. The Council for Financial Stability—Clauses 1 to 4—the FSA’s international remit—Clause 8—and the provisions relating to collective proceedings—Clauses 18 to 25—were casualties of the wash-up process. In order to secure the passage of...

My Lords, we seek to remove from the Bill the clauses relating to the FSA’s international remit. The Council for Financial Stability—Clauses 1 to 4—the FSA’s international remit—Clause 8—and the provisions relating to collective proceedings—Clauses 18 to 25—were casualties of the wash-up process. In order to secure the passage of...

332B: Clause 38, page 50, line 20, leave out "8 to" and insert "9 and" 332C: Clause 38, page 50, line 21, leave out paragraph (e) 333: Clause 38, page 50, line 33, leave out second "to" and insert ", 26," 333A: Clause 38, page 50, line 34, leave out...

332B: Clause 38, page 50, line 20, leave out "8 to" and insert "9 and" 332C: Clause 38, page 50, line 21, leave out paragraph (e) 333: Clause 38, page 50, line 33, leave out second "to" and insert ", 26," 333A: Clause 38, page 50, line 34, leave out...

322A: Clause 30, page 46, leave out lines 18 to 20 and insert— "(5) In this section "the financial system" includes— (a) financial markets and exchanges; (b) activities that would be regulated activities if carried on in the United Kingdom; and (c) other activities connected with financial markets and exchanges.""...

322A: Clause 30, page 46, leave out lines 18 to 20 and insert— "(5) In this section "the financial system" includes— (a) financial markets and exchanges; (b) activities that would be regulated activities if carried on in the United Kingdom; and (c) other activities connected with financial markets and exchanges.""...

330: Schedule 2, page 63, line 31, at end insert— "25A In section 348(5)(d) (restrictions on disclosure of confidential information by Authority etc), after "a person appointed" insert "to collect or update information under section 139E or"." Amendment 330 agreed. Amendments 330A and 330B not moved. Amendments 331 and 332...

330: Schedule 2, page 63, line 31, at end insert— "25A In section 348(5)(d) (restrictions on disclosure of confidential information by Authority etc), after "a person appointed" insert "to collect or update information under section 139E or"." Amendment 330 agreed. Amendments 330A and 330B not moved. Amendments 331 and 332...

332A: Clause 38, page 50, line 16, leave out "sections 1 to 5" and insert "section 5"

332A: Clause 38, page 50, line 16, leave out "sections 1 to 5" and insert "section 5"

As I explained earlier the Government, following discussions with the Opposition via the usual channels, have agreed to remove a number of clauses from the Bill. Amendments 332A to 334 make necessary consequential amendments to these removals. The amendments simply delete from the Bill some references to the clauses that...

As I explained earlier the Government, following discussions with the Opposition via the usual channels, have agreed to remove a number of clauses from the Bill. Amendments 332A to 334 make necessary consequential amendments to these removals. The amendments simply delete from the Bill some references to the clauses that...

Clause 29 inserts new sections into the FSMA Act 2000 to allow the FSCS to act on behalf of another scheme or authority, including a foreign compensation scheme. The purpose of the measure is to ensure that compensation can always be made quickly and effectively to claimants in cases where...

Clause 29 inserts new sections into the FSMA Act 2000 to allow the FSCS to act on behalf of another scheme or authority, including a foreign compensation scheme. The purpose of the measure is to ensure that compensation can always be made quickly and effectively to claimants in cases where...

109: Clause 9, page 7, line 13, leave out subsections (7) and (8) Amendment 109 agreed. Clause 9, as amended, agreed. Amendments 110 to 154 had been withdrawn from the Marshalled List. Clauses 10 and 11 agreed. Clause 12 : Rules made by FSA about recovery and resolution plans Amendment...

109: Clause 9, page 7, line 13, leave out subsections (7) and (8) Amendment 109 agreed. Clause 9, as amended, agreed. Amendments 110 to 154 had been withdrawn from the Marshalled List. Clauses 10 and 11 agreed. Clause 12 : Rules made by FSA about recovery and resolution plans Amendment...

155: Clause 12, page 12, line 30, at end insert— "( ) An authorised person may provide information (whether received under subsection (6) or otherwise) that would otherwise be subject to a contractual or other requirement to keep in confidence if it is provided for the purposes of anything required...

155: Clause 12, page 12, line 30, at end insert— "( ) An authorised person may provide information (whether received under subsection (6) or otherwise) that would otherwise be subject to a contractual or other requirement to keep in confidence if it is provided for the purposes of anything required...

My Lords, we shall not oppose the Minister's amendments, although we are always wary about statutes overriding the need to keep information confidential. That will have to be a debate for another day. We shall also not oppose Clause 12 standing part of the Bill because we agree with the...

My Lords, we shall not oppose the Minister's amendments, although we are always wary about statutes overriding the need to keep information confidential. That will have to be a debate for another day. We shall also not oppose Clause 12 standing part of the Bill because we agree with the...

My Lords, we on these Benches have no objections to the clause. However, following the remarks of the noble Baroness, Lady Noakes, perhaps I could ask the Minister, although the main provision here is for dealing with banks, what other institutions it is intended that the provisions should cover.

My Lords, we on these Benches have no objections to the clause. However, following the remarks of the noble Baroness, Lady Noakes, perhaps I could ask the Minister, although the main provision here is for dealing with banks, what other institutions it is intended that the provisions should cover.

My Lords, I am grateful to the noble Baroness, Lady Noakes, and to the noble Lord, Lord Oakeshott, for their comments. The noble Baroness questioned whether Clause 12 was necessary. I agree with the noble Baroness that the clause is drafted widely and should be used with care. It is...

My Lords, I am grateful to the noble Baroness, Lady Noakes, and to the noble Lord, Lord Oakeshott, for their comments. The noble Baroness questioned whether Clause 12 was necessary. I agree with the noble Baroness that the clause is drafted widely and should be used with care. It is...

167A: Clause 13, page 14, line 25, at end insert— "( ) The Authority must, when making short selling rules, have regard to any international agreement as to measures to be taken in respect of short selling."

167A: Clause 13, page 14, line 25, at end insert— "( ) The Authority must, when making short selling rules, have regard to any international agreement as to measures to be taken in respect of short selling."

Amendment 167A will require the Financial Services Authority to have regard to any internationally agreed measure on short selling when making its own rules. Amendment 179A ensures that the supplementary powers in relation to the production of information and documents that are currently set out in Section 175 also apply...

Amendment 167A will require the Financial Services Authority to have regard to any internationally agreed measure on short selling when making its own rules. Amendment 179A ensures that the supplementary powers in relation to the production of information and documents that are currently set out in Section 175 also apply...

179A: Clause 13, page 16, line 32, at end insert— "131EA Power to require information: supplementary (1) If the Authority has power under section 131E to require a person to produce a document but it appears that the document is in the possession of a third person, that power may...

179A: Clause 13, page 16, line 32, at end insert— "131EA Power to require information: supplementary (1) If the Authority has power under section 131E to require a person to produce a document but it appears that the document is in the possession of a third person, that power may...