Financial Services (Banking Reform) Bill

My Lords, as the Minister has said, I have Amendment 138 in this group. He has explained the amen...

My Lords, I congratulate the Minister on his patience and courtesy in always being the Minister t...

My Lords, I support what the noble Lord, Lord Brennan, had to say about the card payment system. ...

My Lords, I think the burden of the case of the noble Lord, Lord Brennan, is that the Government ...

Moved by

Lord Newby

123: Clause 30, page 42, line 18, after “to” insert “(Disclosure ...

Moved by

Lord Newby

124: Schedule 4, page 134, line 1, after “imposing” insert “gener...

Moved by

Lord Newby

134: After Clause 38, insert the following new Clause—

“Pub...

Moved by

Lord Newby

135: Clause 44, page 48, line 15, leave out paragraph (b) and ins...

Moved by

Lord Newby

137: Clause 45, page 48, line 32, at end insert—

“(3) A req...

Moved by

Lord Newby

139: Clause 49, page 50, line 14, leave out “(“the concurrent fun...

Moved by

Lord Newby

140: Clause 50, page 51, line 11, leave out “has the same meaning...

Moved by

Lord Newby

142: Clause 52, page 52, line 16, leave out “requirment on all op...

Moved by

Lord Newby

143: Clause 66, page 57, leave out line 22 and insert “generally-...

Moved by

Lord Newby

144: Schedule 5, page 145, line 35, at end insert—

““appell...

Moved by

Lord Newby

145: Clause 71, page 60, line 38, leave out subsections (4) to (9...

Moved by

Lord Newby

146: Clause 72, page 61, line 23, leave out “(“the relevant parti...

Moved by

Lord Newby

149: After Clause 80, insert the following new Clause—

“Res...

Moved by

Lord Newby

154: Clause 87, page 72, line 33, after “system,” insert—

“...

Moved by

Lord Newby

156: Clause 89, page 73, line 35, after “direction” insert “under...

Moved by

Lord Newby

159: Clause 92, page 77, line 8, leave out “requirements imposed”...

Moved by

Lord Newby

161: Clause 95, page 77, line 35, at end insert—

““CAT-appe...

Moved by

Lord Newby

163: Clause 104, page 83, line 30, at end insert—

“(f) staf...

My Lords, the purpose of this amendment is to restrict the early termination of contracts by supp...

Moved by

Lord Phillips of Sudbury

164: After Clause 113, insert the following new Cla...

My Lords, when this amendment was moved in Committee on 15 October there were 10 of us here at 10...

Billion.

Yes.

I want to see, and I think that this may commend itself to the House, a cool look at j...

My Lords, I am trying to follow my noble friend’s argument. Precisely what contract is he describ...

I will do my best to explain. Let us consider Merrill Lynch. It cornered, it is estimated, 50% to...

My Lords, I confess I was a little puzzled by the introduction to the amendment of the noble Lord...

My Lords, I add my support to what the noble Lord, Lord Eatwell, said in specifying these particu...

My Lords, the purpose of the amendment is to require the Treasury to undertake a review of the co...

I thank the Minister for what he said. I am particularly pleased to hear him say that he will tak...

Moved by

Lord Eatwell

165: Before Clause 114, insert the following new Clause—

...

My Lords, as noble Lords will see on the Marshalled List, Amendment 165 would insert a new clause...

Before the noble Lord sits down, why does he not propose extending his fiduciary liability to all...

That is because I think the distinction between commercial banking and investment banking is rele...

Before the noble Lord sits down again, I ask for a brief clarification. Ring-fenced banks may wel...

I am very grateful to the noble Lord for his comments. I had overlooked that point. Once the Hous...

My Lords, before the noble Lord sits down again, I offer another friendly thought—I hope. I have ...

I am grateful to the noble Baroness. I am sure that her suggestion and, indeed, the example of th...

My Lords, I have a reputation for introducing sidetrack issues which distract the House. However,...

I should point out to the noble Lord that the case he has described would come, under the terms o...

My Lords, as a lawyer I have always believed that I have a contract with my bank, inasmuch as it ...

My Lords, I simply add that there is surely a strong duty of care to the depositors, whose money ...

My Lords, I am sorry that when we discussed this amendment on a previous occasion, the Government...

My Lords, I regret that the Government seem to have learnt nothing since Committee stage. We have...

Moved by

Lord Newby

166: Schedule 8, page 157, leave out lines 11 to 14

My Lords, in Committee, the Government proposed that the FCA should be given competition powers, ...

Moved by

Lord Newby

167: Schedule 8, page 157, line 26, leave out “financial sector a...

Moved by

Lord Eatwell

172: After Clause 116, insert the following new Clause—

“...

My Lords, Amendment 172 derives from, and is a response to, an amendment that the Government succ...

My Lords, this amendment concerns the important issue of consumer representation at the PRA and r...

There I was with my notes saying how inadequate the noble Lord’s answer was going to be. I am del...

Moved by

Lord Newby

173: Clause 117, page 92, line 14, at end insert—

“(2) In s...

Moved by

Lord Newby

174: Clause 118, page 92, line 21, leave out from “(e)”,” to end ...

Moved by

The Archbishop of Canterbury

175: Before Clause 119, insert the following ne...

My Lords, this amendment stands in my name and in the names of the noble Lords, Lord Turnbull, Lo...

My Lords, I support the sentiments expressed by the most reverend Primate, in particular in point...

My Lords, I support strongly what the most reverend Primate the Archbishop of Canterbury and the ...

My Lords, the amendment would require the Government to make an order giving the FPC a power to d...

I am very grateful to the Minister for such an extremely technical answer and I beg leave to with...

Moved by

Lord Turnbull

176: After Clause 119, insert the following new Clause—

...

My Lords, this amendment repeats an amendment tabled in Committee, the aim of which was to delete...

My Lords, I confirm the observation of the noble Lord, Lord Turnbull, that it is of course not ou...

My Lords, I have one issue to raise with the Minister. The competitive objective, as I understand...

I shall look into that for my noble friend.

In tabling amendments, there are a number of objectives. The first is to get an amendment accepte...

Moved by

Lord Turnbull

177: After Clause 119, insert the following new Clause—

...

This amendment is about the future structure of the Regulatory Decisions Committee. This is avowe...

My Lords, I was a member of the original regulatory decisions committee at the Financial Services...

In the spirit of the noble Lord’s approach, which was to move on from the specific amendment, I w...

On the basis of that quite generous assurance, I am very happy to withdraw the amendment.

Moved by

Lord Lawson of Blaby

180: After Clause 120, insert the following new Clause—...

I will try to be brief; I hope that the Government can readily accept this. This amendment concer...

My Lords, as a fellow member of the Parliamentary Commission on Banking Standards, I support the ...

My Lords, I add the support of these Benches for the commissioners’ amendment. I was particularly...

My Lords, we are considering a proposal to mandate the regulators to meet the auditors of all the...

For clarification, if my noble friend reads the amendment, he will see that it does not say that ...

I was just getting to that. The Government believe that there is a superior approach to strengthe...

Before my noble friend sits down, can we be absolutely clear what he is saying? He is saying that...

That is what I am saying, yes.

In answer to the useful point of clarification by my noble friend Lord Higgins, will this measure...

Yes.

Given that undertaking, for which I am extremely grateful, I beg leave to withdraw the amendment....

Moved by

Lord Lawson of Blaby

181: After Clause 120, insert the following new Clause—...

This is one of the most important matters that we will have to decide, not merely to make the ban...

My Lords, I am interested in a side effect of this amendment. I hope that it may result in us tak...

I support the amendment. Most of what we are legislating to do is prevent banks doing terrible th...

I, too, support the amendment. The problem that we have in the City today is that everything is m...

My Lords, the PCBS did express concern, very understandably, despite the fact that proprietary tr...

I am grateful that my noble friend said that he would come forward with something at Third Readin...

Moved by

Lord Turnbull

182: After Clause 120, insert the following new Clause—

...

I shall speak also to Amendment 183. This is about whether there should be a statutory basis for ...

My Lords, I am extremely pleased that my letter has at least partially satisfied the noble Lord. ...

On the basis of that assurance, I am indeed content to beg leave to withdraw the amendment.

Moved by

Lord Turnbull

184: After Clause 120, insert the following new Clause—

...

This amendment concerns the concept of special measures. We were again told, as we often have bee...

My Lords, I think that this is now having the appearance of a Christmas box, in that the noble Lo...

My Lords, I am very grateful regarding a number of issues. The Government have said that they are...

My Lords, I understand the point being made by the noble Lord. I am not sure at this point, witho...

It is indeed a PRA policy statement that I am after. I am trying to establish a regime in which t...

Moved by

Lord Newby

185: Before Clause 121, insert the following new Clause—

“P...

My Lords, Amendments 185 to 189, 191 to 194 and 197 to 198 are government amendments on claims ma...

My Lords, first, I welcome the government amendments within this group. As the Minister said, thi...

My Lords, if we can do it at Third Reading, we will. I am advised that there are a number of tech...

Moved by

Lord Deighton

186: Before Clause 122, insert the following new Clause—