To ask the Secretary of State for Transport, what steps her Department is taking to ensure car insurance companies notify customers of insurance cost rises.

To ask the Secretary of State for Transport, what steps her Department is taking to ensure car insurance companies notify customers of insurance cost rises.

To ask the Chancellor of the Exchequer, what steps her Department are taking to (a) ensure the compliance of (i) home and (ii) travel insurance firms with their legal obligations and (b) improve consumer protections related to (A) home and (B) travel insurance.

To ask the Chancellor of the Exchequer, what steps her Department are taking to (a) ensure the compliance of (i) home and (ii) travel insurance firms with their legal obligations and (b) improve consumer protections related to (A) home and (B) travel insurance.

Lords second reading. Agreed to on question. Lords motion that the bill be committed to a Grand Committee and instruction on order of clauses to be taken. Agreed to on question.

Lords second reading. Agreed to on question. Lords motion that the bill be committed to a Grand Committee and instruction on order of clauses to be taken. Agreed to on question.

My Lords, the financial services sector is one of the UK’s greatest economic success stories: we are the world’s largest net exporter of financial services, and it makes up around 20% of UK exports. The sector made 8% of UK GVA in 2025, totalling £224 billion. It plays a vital...

My Lords, the financial services sector is one of the UK’s greatest economic success stories: we are the world’s largest net exporter of financial services, and it makes up around 20% of UK exports. The sector made 8% of UK GVA in 2025, totalling £224 billion. It plays a vital...

My Lords, it is a pleasure to follow the Minister as we begin our deliberations on the Financial Services and Markets Bill. Like him, we believe that the financial services sector is one of Britain’s great success stories. It accounts for around 12% of GDP, supports 2.5 million jobs and...

My Lords, it is a pleasure to follow the Minister as we begin our deliberations on the Financial Services and Markets Bill. Like him, we believe that the financial services sector is one of Britain’s great success stories. It accounts for around 12% of GDP, supports 2.5 million jobs and...

My Lords, I welcome this Bill and the growth in competitive objectives that inform it. I thank the many organisations that have provided us with briefings, especially the APPG on Investment Fraud and Fairer Financial Services. Its 70-page analysis deals with each part of the Bill in depth and reaches...

My Lords, I welcome this Bill and the growth in competitive objectives that inform it. I thank the many organisations that have provided us with briefings, especially the APPG on Investment Fraud and Fairer Financial Services. Its 70-page analysis deals with each part of the Bill in depth and reaches...

My Lords, this Bill is another example, I am afraid, of my past catching up with me. It is 27 years ago that I was asked to chair a Joint Select Committee of both Houses to scrutinise the draft Financial Services and Markets Bill that was introduced back then. The...

My Lords, this Bill is another example, I am afraid, of my past catching up with me. It is 27 years ago that I was asked to chair a Joint Select Committee of both Houses to scrutinise the draft Financial Services and Markets Bill that was introduced back then. The...

My Lords, I declare my interests as set out in the register. As with all my colleagues on these Benches—not that there seem to be many of them here today—my stipend, pension contributions, housing and working costs are provided by the Church Commissioners for England. As an issuer of bonds,...

My Lords, I declare my interests as set out in the register. As with all my colleagues on these Benches—not that there seem to be many of them here today—my stipend, pension contributions, housing and working costs are provided by the Church Commissioners for England. As an issuer of bonds,...

My Lords, I thank the Minister for his excellent introduction to what is a complex and technical Bill. I will focus, as the Prime Minister’s Anti-Corruption Champion, on a part that may not be at the top of everyone’s agenda—it was not in the Minister’s top half. For those of...

My Lords, I thank the Minister for his excellent introduction to what is a complex and technical Bill. I will focus, as the Prime Minister’s Anti-Corruption Champion, on a part that may not be at the top of everyone’s agenda—it was not in the Minister’s top half. For those of...

My Lords, I begin by drawing attention to my interests listed in the register. The financial crisis of 2007 to 2009 left lasting scars on the UK financial system. The costs of that crisis have reverberated in the form of embedded risk aversion, particularly among financial services regulators.

Yet, risk aversion...

My Lords, I begin by drawing attention to my interests listed in the register. The financial crisis of 2007 to 2009 left lasting scars on the UK financial system. The costs of that crisis have reverberated in the form of embedded risk aversion, particularly among financial services regulators.

Yet, risk aversion...

My Lords, I declare my interests in that I hold shares in a number of listed financial services companies. It is a pleasure to follow the noble Lord, Lord Eatwell, who is one of the select group of noble Lords who regularly take part in the scrutiny of financial services...

My Lords, I declare my interests in that I hold shares in a number of listed financial services companies. It is a pleasure to follow the noble Lord, Lord Eatwell, who is one of the select group of noble Lords who regularly take part in the scrutiny of financial services...

My Lords, it is a pleasure to take part in this debate and to follow the remarks of the noble Baroness, Lady Noakes. I declare my interest as chair of Norton Rose Fulbright, a law firm.

I thank my noble friend the Minister for his comprehensive introduction to this Bill. The...

My Lords, it is a pleasure to take part in this debate and to follow the remarks of the noble Baroness, Lady Noakes. I declare my interest as chair of Norton Rose Fulbright, a law firm.

I thank my noble friend the Minister for his comprehensive introduction to this Bill. The...

My Lords, unlike many noble Lords who will contribute to today’s debate, I have no direct experience of working in the financial services sector, although I suspect I might even apply for associate membership of the club of Members of your Lordships’ House who take part in this legislation that...

My Lords, unlike many noble Lords who will contribute to today’s debate, I have no direct experience of working in the financial services sector, although I suspect I might even apply for associate membership of the club of Members of your Lordships’ House who take part in this legislation that...

My Lords, my professional background before I joined the House was as a finance practitioner. I still work pro bono with consumer organisations, including some who have a view on the Bill. Most relevant to what I will say is that I am a fellow at Cambridge, where I teach...

My Lords, my professional background before I joined the House was as a finance practitioner. I still work pro bono with consumer organisations, including some who have a view on the Bill. Most relevant to what I will say is that I am a fellow at Cambridge, where I teach...

My Lords, I declare my interests as a director of Valloop Impact Captive.

The Bill is a chunky addition to the impenetrable forest of financial services legislation, relocating key issues into the even larger forest of regulator rules. Who is it for? It cannot be only for business; it must also...

My Lords, I declare my interests as a director of Valloop Impact Captive.

The Bill is a chunky addition to the impenetrable forest of financial services legislation, relocating key issues into the even larger forest of regulator rules. Who is it for? It cannot be only for business; it must also...

There is a thought experiment, a century old, that I think should be made compulsory for every financial regulator, every market reformer and, frankly, every politician who has uttered the word “modernisation”. It comes from GK Chesterton, writing in 1929. He is writing about why he was a Catholic, but...

There is a thought experiment, a century old, that I think should be made compulsory for every financial regulator, every market reformer and, frankly, every politician who has uttered the word “modernisation”. It comes from GK Chesterton, writing in 1929. He is writing about why he was a Catholic, but...

My Lords, I thank the Minister for his recent letter and the meeting he convened last week, but also for clearly laying out the ambitions for this financial services Bill. For many years, I sat on the Committee on Economic and Monetary Affairs of the European Parliament and worked closely...

My Lords, I thank the Minister for his recent letter and the meeting he convened last week, but also for clearly laying out the ambitions for this financial services Bill. For many years, I sat on the Committee on Economic and Monetary Affairs of the European Parliament and worked closely...

My Lords, it is truly humbling to hear from so many noble Lords today with such expertise. As many have said, there is much to commend in this legislation. Any measure that strengthens the financial services in this country is welcome. As was laid out in the Leeds reforms last...

My Lords, it is truly humbling to hear from so many noble Lords today with such expertise. As many have said, there is much to commend in this legislation. Any measure that strengthens the financial services in this country is welcome. As was laid out in the Leeds reforms last...

My Lords, it is a privilege to speak in a debate with those who have such deep understanding of financial services and markets, including a Minister with transformational business experience, which we all respect. My own experience as a lawyer has been limited in this area largely to providing unwelcome...

My Lords, it is a privilege to speak in a debate with those who have such deep understanding of financial services and markets, including a Minister with transformational business experience, which we all respect. My own experience as a lawyer has been limited in this area largely to providing unwelcome...

My Lords, it is a great pleasure to follow such a thoughtful speech from the noble Lord, Lord Carlile, who picked up on a couple of points that I was going to mention. First, I draw the House’s attention to my interests as a non-executive director at Santander UK, a...

My Lords, it is a great pleasure to follow such a thoughtful speech from the noble Lord, Lord Carlile, who picked up on a couple of points that I was going to mention. First, I draw the House’s attention to my interests as a non-executive director at Santander UK, a...