Financial Services (Banking Reform) Bill

My Lords, I would be most grateful if colleagues could leave the Chamber quietly, particularly be...

My Lords, before moving on to the amendment, and as I did not speak at Second Reading, I want to ...

My Lords, with the leave of the Committee, I, too, would like to participate in these proceedings...

My Lords, I will consider both Amendments 1 and 2, and I will talk first about Amendment 1, which...

My Lords, I wonder whether, in his assessment of the amendment of the noble Lord, Lord Blackwell,...

I am grateful for my noble friend’s comments on Amendment 1 and for his explanation that the flex...

With respect to the specific question, we have not had the chance to review the delegated powers ...

Moved by

Lord Deighton

2: Clause 4, page 9, leave out lines 7 to 9 and insert—

...

Moved by

Lord Turnbull

3: Clause 4, page 9, leave out lines 26 to 39 and insert—

I shall speak also to Amendments 10, 14 and 116 in the group. I also express my regret that I was...

Moved by

Lord Eatwell

4: Clause 4, line 11, leave out first “4” and insert “2”

My Lords, I am in total agreement with what the noble Lord, Lord Turnbull, has said about the imp...

My Lords, I must express some reservations about the arguments put forward by the noble Lord, Lor...

The noble Lord, Lord Blackwell, referred to the fact that this might become a parliamentary commi...

I thank the noble Lord for that clarification. I was responding to the fact that the amendment su...

My Lords, I had the opportunity of speaking at Second Reading, which seems rather unusual. I poin...

My Lords, this must be the first time in parliamentary history for the amendments to a Bill to be...

My Lords, I apologise for not speaking at Second Reading; I was out of the country. I support the...

My Lords, there have been a number of comments on the length and complexity of the Bill. I am not...

My Lords, I listened very carefully to what my noble friend the Minister said. I am extremely gra...

My Lords, I have enormous sympathy with the noble Lord, Lord Turnbull, who said in his introducti...

My Lords, it was, along with other Members, a privilege to be a member of the Parliamentary Commi...

My Lords, I did not speak at Second Reading because I could not stay for the wind-ups, but listen...

I have a lot of sympathy with what my noble friend has said. However, on my noble friend’s thesis...

I agree, but all questions can be reduced in that way—reductio ad absurdum. On that basis, we wou...

My Lords, I rise very much in agreement with the noble Lord, Lord Lawson. The particular point th...

My Lords, like many in the House I did not manage to speak at Second Reading either, but I have s...

I did not say that I necessarily accepted the Government's conclusion: I was merely testing the G...

My Lords, I came in this afternoon hoping for enlightenment. I received much more and varied judg...

My Lords, in responding to the points that have been made, I want to make it clear that the commi...

My Lords, as I have tabled an amendment to the amendment moved by the noble Lord, Lord Turnbull, ...

Moved by

Lord Deighton

6: Clause 4, page 9, line 27, at end insert “and of any rules ...

My Lords, Amendments 6 and 81 insert two new sections into the Financial Services and Markets Act...

Can my noble friend explain precisely what is meant by “resolution powers”?

The resolution powers all relate to the Bank of England’s powers essentially to step in in advanc...

My Lords, I have enormous sympathy with the amendments and the struggle that the Treasury is havi...

It is a valve which goes only one way; it cannot be upstreamed—otherwise the noble Lord is right ...

My Lords, the clause as I understand it seems to be absolutely essential if the powers involved a...

The simple way to look at the amendments is that they are to ensure that both regulators have the...

My Lords, the noble Lord, Lord Higgins, has raised a very important matter with respect to author...

My Lords, I am a little clearer now than I was a moment or two ago. It would be helpful if my nob...

I shall try to go through those points one by one. Just to be clear with respect to the foreign b...

What if it stops?

That is part of the resolution process that needs to be sorted out but there is nothing to stop i...

Moved by

Lord Deighton

7: Clause 4, page 12, line 19, leave out from “a” to end of li...

My Lords, these amendments streamline the procedure for the group restructuring powers—the so-cal...

My noble friend has talked about the great advantages of universal banking that need to be preser...

The first point that I would make in response is that it was the position of the ICB, which did a...

I very much welcome this simplified process. It took two steps for the Government to get there, b...

My Lords, I echo the words of the noble Lord, Lord Turnbull. I think this is a significant improv...

On the question of the breach of human rights, we are confident. The RDC still exists, and under ...

Moved by

Lord Deighton

8: Clause 4, page 12, leave out lines 25 to 30 and insert—

Moved by

Lord Deighton

11: Clause 4, page 12, line 40, leave out from beginning to en...

Moved by

Lord Deighton

15: Clause 4, page 13, line 19, after “a” insert “written”

Moved by

Lord Turnbull

23: Clause 4, page 17, line 17, at end insert—

“Full sep...

I referred to the second reserve power, which would allow that where, in the commission’s view, i...

Could the noble Lord explain the drafting of Amendment 23? As I understood his explanation, it wa...

If the drafting does not say that, we will have to amend it. The clear intention is for this to b...

Perhaps I may say something about this. As the noble Lord, Lord Turnbull, mentioned, we retrenche...

My Lords, I apologise that I, too, was not here for Second Reading as I was at the funeral of a c...

My Lords, I entirely agree with what the most reverend Primate has just said. As a lawyer of far ...

My Lords, I know that noble Lords are looking forward to hearing the Statement, but this is an im...

My Lords, I make a simple observation from experience. I have seen this attempt at ring-fencing i...

My Lords, what underlies this whole debate is a feeling that the so-called advantages of the univ...

My Lords, given some of the recent speeches, I again sound a small note of caution. While I under...

My Lords, what is particularly striking about the commission’s report, especially its final repor...

My Lords, we have already discussed many of these issues as it has been extremely difficult to av...

The point that the Minister seems not to have taken on board is that the arguments for review and...

Yes, there would be a review, but not a proper parliamentary process. The argument I am making is...

I think the Minister has erected a straw man here. The straw man is that there is a quite lightwe...