This briefing covers the scale of banking fraud, how the police respond to fraud, and what the public and private sectors are doing to reduce the impact of banking fraud.

This briefing covers the scale of banking fraud, how the police respond to fraud, and what the public and private sectors are doing to reduce the impact of banking fraud.

To ask the Chancellor of the Exchequer, how many banks have closed in (a) South Holland and the Deepings constituency and (b) Lincolnshire in last five years.

To ask the Chancellor of the Exchequer, how many banks have closed in (a) South Holland and the Deepings constituency and (b) Lincolnshire in last five years.

Last night I delivered my annual Mansion House speech at the Financial and Professional Services Dinner at Mansion House.

In my speech, I announced a package of further reforms to unlock investment across the country, increase access to finance for growing businesses and position the UK at the forefront of financial...

Last night I delivered my annual Mansion House speech at the Financial and Professional Services Dinner at Mansion House.

In my speech, I announced a package of further reforms to unlock investment across the country, increase access to finance for growing businesses and position the UK at the forefront of financial...

My honourable friend, Rachel Reeves MP (Chancellor of the Exchequer) has today made the following statement.

Last night I delivered my annual Mansion House speech at the Financial and Professional Services Dinner at Mansion House.

In my speech, I announced a package of further reforms to unlock investment across the country, increase...

My honourable friend, Rachel Reeves MP (Chancellor of the Exchequer) has today made the following statement.

Last night I delivered my annual Mansion House speech at the Financial and Professional Services Dinner at Mansion House.

In my speech, I announced a package of further reforms to unlock investment across the country, increase...

Lords committee stage sixth day. Clauses 39 to 53 agreed to. Bill reported without amendment.

Lords committee stage sixth day. Clauses 39 to 53 agreed to. Bill reported without amendment.

My Lords, our amendments in this group concern the future of the bank ring-fencing regime. I will start by setting out clearly the position that we have reached as the Official Opposition. Through our diagnostic work, we have found a consensus that the bank ring-fencing regime is no longer fit...

My Lords, our amendments in this group concern the future of the bank ring-fencing regime. I will start by setting out clearly the position that we have reached as the Official Opposition. Through our diagnostic work, we have found a consensus that the bank ring-fencing regime is no longer fit...

My Lords, if I may respond to that, I had thought until recently that what we were debating was a response to the Skeoch commission established by the last Government, but we have new amendments now, it seems—Amendment 160A and the abandonment of clauses—that are really throwing ring-fencing out. I...

My Lords, if I may respond to that, I had thought until recently that what we were debating was a response to the Skeoch commission established by the last Government, but we have new amendments now, it seems—Amendment 160A and the abandonment of clauses—that are really throwing ring-fencing out. I...

In Committee, it is normal to address the amendments and not opposition parties’ policy documents.

In Committee, it is normal to address the amendments and not opposition parties’ policy documents.

The amendment has been put to us at the last minute. The points that it relates to have been there for weeks, indeed months, but I would argue that what has triggered the amendment is the speech by the leader of the Conservative Party and the policy document that underpins...

The amendment has been put to us at the last minute. The points that it relates to have been there for weeks, indeed months, but I would argue that what has triggered the amendment is the speech by the leader of the Conservative Party and the policy document that underpins...

I rise to speak to the Motion that Clause 40 does not stand part. As I explained at Second Reading, I have no professional knowledge of the banking industry but, because of circumstances, for more than 14 years I have been in this Room talking about the finance industry and...

I rise to speak to the Motion that Clause 40 does not stand part. As I explained at Second Reading, I have no professional knowledge of the banking industry but, because of circumstances, for more than 14 years I have been in this Room talking about the finance industry and...

I support Amendment 160A. I want to start by briefly addressing a couple of issues raised by the noble Lord, Lord Pitt-Watson. Most importantly, I want briefly to quote the conclusions of the Skeoch report. The panel judges that the ring-fence

“is worth retaining at present”

but adds a number of considerations:

“The...

I support Amendment 160A. I want to start by briefly addressing a couple of issues raised by the noble Lord, Lord Pitt-Watson. Most importantly, I want briefly to quote the conclusions of the Skeoch report. The panel judges that the ring-fence

“is worth retaining at present”

but adds a number of considerations:

“The...

I did indeed talk to senior members of the Skeoch commission before writing my speech, and what I said is completely consistent with the conclusions of the Skeoch commission, which was set up by the previous Conservative Government, as I said.

I did indeed talk to senior members of the Skeoch commission before writing my speech, and what I said is completely consistent with the conclusions of the Skeoch commission, which was set up by the previous Conservative Government, as I said.

I am just reading the conclusions from the report, my Lords. They make it very clear that the continuation of ring-fencing made sense at the time the report was written, but the commission clearly envisaged that it might not be needed over the passage of time. I also remind noble...

I am just reading the conclusions from the report, my Lords. They make it very clear that the continuation of ring-fencing made sense at the time the report was written, but the commission clearly envisaged that it might not be needed over the passage of time. I also remind noble...

I find it difficult to believe that someone has told me that the withdrawal of Glass-Steagall, which took place 13 years before the global financial crisis, had no detriment to the American banking system. As I say, I have read the Skeoch report and discussed it with senior members of...

I find it difficult to believe that someone has told me that the withdrawal of Glass-Steagall, which took place 13 years before the global financial crisis, had no detriment to the American banking system. As I say, I have read the Skeoch report and discussed it with senior members of...

I also draw attention to the abolition of FOS, which the noble Lord mentioned. I draw the Committee’s attention to Amendment 172A, which discusses the changes proposed to FOS. It is to be abolished and replaced with something called the financial adjudication service, which is a broadly similar methodology to...

I also draw attention to the abolition of FOS, which the noble Lord mentioned. I draw the Committee’s attention to Amendment 172A, which discusses the changes proposed to FOS. It is to be abolished and replaced with something called the financial adjudication service, which is a broadly similar methodology to...

My Lords, I have some experience of ring-fencing as, in my capacity as the chairman of the risk committee of a major bank, I oversaw the implementation of ring-fencing. At that time, it was a significant risk to the bank that we would not be in compliance with the ring-fencing...

My Lords, I have some experience of ring-fencing as, in my capacity as the chairman of the risk committee of a major bank, I oversaw the implementation of ring-fencing. At that time, it was a significant risk to the bank that we would not be in compliance with the ring-fencing...

There were two points, one of which is that the Skeoch report says that the numbers given are not its numbers. The report is clear that whatever the cost of ring-fencing, it is not a cost to the economy—this is what the Vickers report said earlier

—and that, by removing...

There were two points, one of which is that the Skeoch report says that the numbers given are not its numbers. The report is clear that whatever the cost of ring-fencing, it is not a cost to the economy—this is what the Vickers report said earlier

—and that, by removing...