May I associate myself with the Prime Minister’s remarks about Monday’s despicable attacks on the Jewish community? Antisemitism has no place in our society. Given the potential links with the Islamic Revolutionary Guard Corps, I hope that the Government will move faster to proscribe the group as terrorists.

As a former Secretary of State for Energy who granted licences for oil and gas exploration, may I make a judgment on this argument? The Prime Minister is actually right, and the Leader of the Opposition is wrong—[Interruption.] The law is clear, and I believe in the rule of law.

Just before President Trump posted about his supposed negotiations with Iran on Monday, traders made hundreds of millions of dollars of extra bets on oil futures. This looks like Donald Trump giving his mates inside information so they can make themselves richer, while his illegal war in Iran makes everyone else poorer. It looks like corruption of the very worst kind. Does the Prime Minister share my fear that Trump is making his war decisions on the basis of what enriches him and his friends, rather than what makes peace in the middle east?

May I associate myself with the Prime Minister’s remarks about Monday’s despicable attacks on the Jewish community? Antisemitism has no place in our society. Given the potential links with the Islamic Revolutionary Guard Corps, I hope that the Government will move faster to proscribe the group as terrorists.

As a former Secretary of State for Energy who granted licences for oil and gas exploration, may I make a judgment on this argument? The Prime Minister is actually right, and the Leader of the Opposition is wrong—[Interruption.] The law is clear, and I believe in the rule of law.

Just before President Trump posted about his supposed negotiations with Iran on Monday, traders made hundreds of millions of dollars of extra bets on oil futures. This looks like Donald Trump giving his mates inside information so they can make themselves richer, while his illegal war in Iran makes everyone else poorer. It looks like corruption of the very worst kind. Does the Prime Minister share my fear that Trump is making his war decisions on the basis of what enriches him and his friends, rather than what makes peace in the middle east?

I thank the right hon. Gentleman for his verdict. At least he has read the law that the Leader of the Opposition obviously has not read. In relation to the traders, we have seen the activity there. What I can say is that all my decisions are based on the best interests of our country, and that is why I have decided that we will not get dragged into the war, unlike the Leader of the Opposition. I have decided that we will act in collective self-defence—in defence of ourselves and our allies. I comment on my actions, and those are the principles behind my actions.

I thank the right hon. Gentleman for his verdict. At least he has read the law that the Leader of the Opposition obviously has not read. In relation to the traders, we have seen the activity there. What I can say is that all my decisions are based on the best interests of our country, and that is why I have decided that we will not get dragged into the war, unlike the Leader of the Opposition. I have decided that we will act in collective self-defence—in defence of ourselves and our allies. I comment on my actions, and those are the principles behind my actions.

My Lords, this Government have a clear vision for financial services—that is, for an open, sustainable and technologically advanced financial services sector that is globally competitive and acts in the interests of communities and citizens by creating jobs, supporting businesses and powering growth across all four nations of the UK....

My Lords, this Government have a clear vision for financial services—that is, for an open, sustainable and technologically advanced financial services sector that is globally competitive and acts in the interests of communities and citizens by creating jobs, supporting businesses and powering growth across all four nations of the UK....

My Lords, we support both of these instruments, with some reservations and a few questions.

I will speak first to the commodity derivatives and emission allowances order. As the Minister said, it proposes a very sensible reduction to regulatory burdens. I note that the procedure followed in this case was a...

My Lords, we support both of these instruments, with some reservations and a few questions.

I will speak first to the commodity derivatives and emission allowances order. As the Minister said, it proposes a very sensible reduction to regulatory burdens. I note that the procedure followed in this case was a...

My Lords, I am going to talk to the crypto assets SI only. This is a vital SI at this point in time. I am delighted that the objectives are,

“improving consumers’ understanding of the risks associated … and ensuring that cryptoasset promotions are held to the same standards as for...

My Lords, I am going to talk to the crypto assets SI only. This is a vital SI at this point in time. I am delighted that the objectives are,

“improving consumers’ understanding of the risks associated … and ensuring that cryptoasset promotions are held to the same standards as for...

My Lords, I am grateful to the Minister for introducing these orders. Let me also express thanks to the Secondary Legislation Scrutiny Committee for flagging the orders as instruments of interest in its 36th report of the Session. As the Minister outlined, the first order brings crypto assets into the...

My Lords, I am grateful to the Minister for introducing these orders. Let me also express thanks to the Secondary Legislation Scrutiny Committee for flagging the orders as instruments of interest in its 36th report of the Session. As the Minister outlined, the first order brings crypto assets into the...

My Lords, I thank noble Lords for participating in today’s debate. I turn first to the changes to the financial promotions regime in respect of crypto assets. Several noble Lords asked about the exemption that applies to anti-money laundering regulated firms. I set out some of this in my opening...

My Lords, I thank noble Lords for participating in today’s debate. I turn first to the changes to the financial promotions regime in respect of crypto assets. Several noble Lords asked about the exemption that applies to anti-money laundering regulated firms. I set out some of this in my opening...

Lords motion to consider. Agreed to on question.

Lords motion to consider. Agreed to on question.

Motions to consider. Agreed to on question.

Motions to consider. Agreed to on question.

My honourable friend the Economic Secretary to the Treasury (Andrew Griffith) has today made the following Written Ministerial Statement.

Many of the rules that govern the buying, selling and organised trading of commodity derivatives and emission allowances are set out in the Markets in Financial Instruments Regulation (MiFIR). MiFIR is one...

My honourable friend the Economic Secretary to the Treasury (Andrew Griffith) has today made the following Written Ministerial Statement.

Many of the rules that govern the buying, selling and organised trading of commodity derivatives and emission allowances are set out in the Markets in Financial Instruments Regulation (MiFIR). MiFIR is one...

Many of the rules that govern the buying, selling and organised trading of commodity derivatives and emission allowances are set out in the Markets in Financial Instruments Regulation (MiFIR). MiFIR is one of two pieces of EU derived legislation (the other being the second Markets in Financial Instruments Directive (MiFID...

Many of the rules that govern the buying, selling and organised trading of commodity derivatives and emission allowances are set out in the Markets in Financial Instruments Regulation (MiFIR). MiFIR is one of two pieces of EU derived legislation (the other being the second Markets in Financial Instruments Directive (MiFID...

Letter dated 22/02/2023 from Baroness Penn to Baroness Worthington and Baroness Bowles of Berkhamsted regarding questions raised in the Financial Services and Markets Bill committee stage (first stage): intervention of the Financial Conduct Authority in the commodity markets. 3p.

Letter dated 22/02/2023 from Baroness Penn to Baroness Worthington and Baroness Bowles of Berkhamsted regarding questions raised in the Financial Services and Markets Bill committee stage (first stage): intervention of the Financial Conduct Authority in the commodity markets. 3p.

To ask His Majesty's Government what estimate they have made of the value of commodity derivatives or economically equivalent contracts which were traded (1) over the counter, and (2) in trading venues in the UK, by FCA-regulated firms in respect of (a) oil, (b) gas, (c) coal, (d) electricity, and...

To ask His Majesty's Government what estimate they have made of the value of commodity derivatives or economically equivalent contracts which were traded (1) over the counter, and (2) in trading venues in the UK, by FCA-regulated firms in respect of (a) oil, (b) gas, (c) coal, (d) electricity, and...

To ask His Majesty's Government what estimate they have made of how many consumers have directly invested in commodity derivatives for (1) oil, (2) gas, (3) coal, (4) electricity, and (5) soft commodities, in the past 12 months.

To ask His Majesty's Government what estimate they have made of how many consumers have directly invested in commodity derivatives for (1) oil, (2) gas, (3) coal, (4) electricity, and (5) soft commodities, in the past 12 months.

To ask His Majesty's Government what estimate they have made of how many consumers have invested in commodity derivatives for (1) oil, (2) gas, (3) coal, (4) electricity, and (5) soft commodities, via automatic enrolment in workplace pensions over the past 12 months.

To ask His Majesty's Government what estimate they have made of how many consumers have invested in commodity derivatives for (1) oil, (2) gas, (3) coal, (4) electricity, and (5) soft commodities, via automatic enrolment in workplace pensions over the past 12 months.