1-20 of 14,027 results for subject:"Financial institutions"
Librarians' tools
- Search time
- 0.495 seconds
- Solr query time
- 0.019 seconds
- Search query
- subject:"Financial institutions"
- We searched for
- subject_t:"Financial institutions" OR subject_ses:91258
Type
House
Session
More
Year
More
Department
More
Member
More
Primary member
More
Answering member
More
Legislative stage
Legislation
More
Subject
More
Publisher
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
My Lords, the Committee will consider together two statutory instruments made under the Financial Services and Markets Act 2023, known as FSMA 2023. Although these instruments address different areas of financial regulation, they share a common purpose, which is to ensure that the UK’s regulatory framework remains stable, proportionate
and...
My Lords, the Committee will consider together two statutory instruments made under the Financial Services and Markets Act 2023, known as FSMA 2023. Although these instruments address different areas of financial regulation, they share a common purpose, which is to ensure that the UK’s regulatory framework remains stable, proportionate
and...
My Lords, I will address each of these instruments separately. First, on the overseas prudential requirements regime, in the Government’s perspective, this statutory instrument is simply the application of the FSMA model to decisions on equivalence. The Government know that I am quite concerned that the FSMA model removes from...
My Lords, I will address each of these instruments separately. First, on the overseas prudential requirements regime, in the Government’s perspective, this statutory instrument is simply the application of the FSMA model to decisions on equivalence. The Government know that I am quite concerned that the FSMA model removes from...
My Lords, I am grateful to the Minister for setting out the purpose and effect of these two instruments. Although both are technically dense, they share a common and quite straightforward purpose: they replace parts of the inherited or temporary post-EU framework with permanent UK arrangements. It gives us an...
My Lords, I am grateful to the Minister for setting out the purpose and effect of these two instruments. Although both are technically dense, they share a common and quite straightforward purpose: they replace parts of the inherited or temporary post-EU framework with permanent UK arrangements. It gives us an...
My Lords, I thank the noble Baronesses for their comments, some of which go a little beyond what we are trying to address here with these statutory instruments. I understand the concern of the noble Baroness, Lady Kramer, about the FSMA regime, how it works, parliamentary oversight and the rest...
My Lords, I thank the noble Baronesses for their comments, some of which go a little beyond what we are trying to address here with these statutory instruments. I understand the concern of the noble Baroness, Lady Kramer, about the FSMA regime, how it works, parliamentary oversight and the rest...
I have just one question. The Minister gave a very helpful reply. He seems to be saying that the second instrument is essentially carrying things over—that both instruments are carrying over from previous EU law, rushed through after Brexit—and putting them on a permanent basis. My questions were about assessment...
I have just one question. The Minister gave a very helpful reply. He seems to be saying that the second instrument is essentially carrying things over—that both instruments are carrying over from previous EU law, rushed through after Brexit—and putting them on a permanent basis. My questions were about assessment...
It would come to Parliament for approval, with an assessment.
It would come to Parliament for approval, with an assessment.
How have sanctions against Russia changed since January 2025? Is US policy diverging from that of its allies?
How have sanctions against Russia changed since January 2025? Is US policy diverging from that of its allies?
To ask the Chancellor of the Exchequer, what estimate she has made of the total value of unclaimed savings held by financial institutions in the UK.
To ask the Chancellor of the Exchequer, what estimate she has made of the total value of unclaimed savings held by financial institutions in the UK.
Under the FCA’s Consumer Duty, firms must act to deliver good outcomes for retail customers throughout their relationship with the firm. This includes acting in good faith, avoiding causing foreseeable harm, and enabling and supporting consumers to pursue their financial objectives. As part of this work, the FCA has set out its expectations of firms in relation to gone-away or disengaged consumers. Banks must make best efforts to contact such customers, to ensure that they can continue to access their products, such as savings accounts.
In the event that banks are not able to contact their customers, and they deem that the account has become dormant, they may elect to transfer the proceeds to the Government’s Dormant Assets Scheme, but banks’ first priority is to reunite customers with their assets.
The Government does not hold data on the total value of unclaimed savings held by financial institutions in the UK. However, in 2017, the independent Commission on Dormant Assets estimated there to be £1–2 billion of dormant assets held across eligible financial services sectors, including the banking sector. Since the opening of the Dormant Assets Scheme in 2011, there has been over £2.13bn of dormant funds transferred from participating banks and building societies alone, as of 31st March 2025.
To ask the Chancellor of the Exchequer, what guidance has (a) HM Treasury and (b) the FCA given to financial institutions on removing an individual from being treated as a Political Exposed Person from their records once they cease to meet the definition of a PEP under FCA guidance.
To ask the Chancellor of the Exchequer, what guidance has (a) HM Treasury and (b) the FCA given to financial institutions on removing an individual from being treated as a Political Exposed Person from their records once they cease to meet the definition of a PEP under FCA guidance.
The FCA publishes guidance on the requirements of the Money Laundering Regulations (MLRs) with regard to politically exposed persons (PEPs). The guidance is clear that financial institutions must treat PEPs as a PEP for at least 12 months after they leave office, and should apply enhanced due diligence (EDD) measures beyond that only in higher risk circumstances. The guidance is also clear that family members of PEPs should cease to be subject to EDD measures as soon as the person is no longer a PEP, absent any other higher risk factors.
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact on taxpayers of discrepancies between savings interest data reported to HM Revenue and Customs by financial institutions and the information provided by those institutions directly to account holders; and what steps HM Revenue and...
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact on taxpayers of discrepancies between savings interest data reported to HM Revenue and Customs by financial institutions and the information provided by those institutions directly to account holders; and what steps HM Revenue and...
HMRC are not aware of any discrepancy between the data institutions provide to HMRC and that provided to their customers. However, there are some challenges in matching data between financial institutions and HMRC systems, which can result in a small number of mismatches.
Operational data suggests that data matching rates have improved, rising from around 70% to around 85%. Working with the institutions and their representative bodies, HMRC expect this to increase further this year, with additional improvements to also come in subsequent years.
To ask His Majesty's Government what assessment they have made of the need for standardised or independent testing of general purpose AI models used by regulated financial institutions.
To ask His Majesty's Government what assessment they have made of the need for standardised or independent testing of general purpose AI models used by regulated financial institutions.
The Government’s ambition is to make the UK a global leader in AI. Encouraging safe adoption is an essential part of realising that ambition and we will continue to work closely with regulators and industry to ensure innovation proceeds safely and responsibly in the financial sector.
UK regulated financial firms are required to manage technology-related risks to consumers and financial stability, including those related to the use of AI models. This is required under existing rules for risk management, governance and accountability. HM Treasury and the regulators keep this approach under review as new technologies develop to ensure that the framework remains effective in light of new risks.
Alongside this, our UK AI Security Institute provides world-leading frontier model testing, and is focused on building a rigorous, scientific understanding of the most serious risks.
To ask the Chancellor of the Exchequer, whether financial institutions handling Tether cryptocurrency are regulated in the UK.
To ask the Chancellor of the Exchequer, whether financial institutions handling Tether cryptocurrency are regulated in the UK.
The Government legislated in February of this year to establish a financial services regulatory regime for cryptoassets, requiring firms to be authorised by the Financial Conduct Authority for providing relevant cryptoasset services in or to the UK. This built on previous regulatory interventions on cryptoasset money laundering and financial promotions. The Government’s approach is ensuring cryptoasset users are protected against detriment, whilst giving firms the certainty needed to invest and grow in the UK.
Letter dated 23/04/2026 from Lord Livermore to Baroness Kramer regarding issues raised during the debate on the Capital Requirements Regulation (Market Risk Transitional Provision) Regulations 2026 and the Credit Institutions and Investment Firms (Miscellaneous Definitions) (Amendment) Regulations 2026. 4p.
Letter dated 23/04/2026 from Lord Livermore to Baroness Kramer regarding issues raised during the debate on the Capital Requirements Regulation (Market Risk Transitional Provision) Regulations 2026 and the Credit Institutions and Investment Firms (Miscellaneous Definitions) (Amendment) Regulations 2026. 4p.
Motion to consider. Agreed to on question.
Motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
My Lords, I ask that the Committee considers two statutory instruments made under the Financial Services and Markets Act 2023: first, the Credit Institutions and Investment Firms (Miscellaneous Definitions) (Amendment) Regulations 2026; and, secondly, the Capital Requirements Regulation (Market Risk Transitional Provision) Regulations 2026. The purpose of this legislation is...
My Lords, I ask that the Committee considers two statutory instruments made under the Financial Services and Markets Act 2023: first, the Credit Institutions and Investment Firms (Miscellaneous Definitions) (Amendment) Regulations 2026; and, secondly, the Capital Requirements Regulation (Market Risk Transitional Provision) Regulations 2026. The purpose of this legislation is...