UK Parliament / Open data

Market Abuse (Amendment) (EU Exit) Regulations 2018

Debates on delegated legislation on Wednesday, 23 January 2019, in the House of Lords, led by Lord Young of Cookham. The answering member was Lord Tunnicliffe.

Lords motion to consider. Agreed to on question.

About these Parliamentary proceedings

Reference

795 cc117-128GC

Session

2017-19

Department

Treasury

Chamber / Committee

House of Lords Grand Committee

Market Abuse (Amendment) (EU Exit) Regulations
Thursday, 6 December 2018
Statutory instruments
House of Lords
House of Commons

Deposited Paper DEP2019-0162
Tuesday, 5 February 2019
Deposited papers
House of Lords

Proceeding contributions

Lord Young of Cookham | 795 cc117-120GC (Link to this contribution)

My Lords, as this instrument has been grouped I will speak also to the Credit Rating Agencies (Am...

Lord Deben | 795 c118GC (Link to this contribution)

When my noble friend says that the FCA has the necessary resource capacity, does that mean that i...

Show all contributions (17)

Lord Young of Cookham | 795 c118GC (Link to this contribution)

The FCA has been consulted about these regulations. If there were a no-deal scenario, I am advise...

Lord Deben | 795 c118GC (Link to this contribution)

I am sorry to trouble my noble friend again but who will pay for this? The resources of the FCA a...

Lord Young of Cookham | 795 c118GC (Link to this contribution)

My Lords, the chief executive of the FCA, Andrew Bailey, has said that he expects to hold FCA fee...

Baroness Bowles of Berkhamsted | 795 c118GC (Link to this contribution)

As we have got on to the subject of fees, when the credit rating agencies want to get approval fr...

Lord Young of Cookham | 795 cc118-121GC (Link to this contribution)

They will continue to have to pay a fee, so to that extent there will be no change, but instead o...

Baroness Bowles of Berkhamsted | 795 cc121-2GC (Link to this contribution)

My Lords, the first thing that I noticed on page one of the draft instrument is that it says this...

Lord Deben | 795 cc122-4GC (Link to this contribution)

My Lords, I want to make a couple of fundamental points. First, my noble friend uses the word “eq...

Lord Tunnicliffe | 795 cc124-5GC (Link to this contribution)

My Lords, perhaps I can start by posing the same question on these two SIs as I did before. Are t...

Lord Young of Cookham | 795 cc125-6GC (Link to this contribution)

My Lords, I am grateful to all noble Lords who have taken part in this debate and I notice that n...

Lord Tunnicliffe | 795 c126GC (Link to this contribution)

There seems to be an extraterritorial competence here, which is pretty unusual in English law.

Lord Young of Cookham | 795 cc126-7GC (Link to this contribution)

We would expect the EU regulators to intervene and investigate market abuse in an EU trading venu...

Lord Tunnicliffe | 795 c127GC (Link to this contribution)

I omitted to congratulate the noble Lord on getting out an impact assessment on the final SI—the ...

Lord Young of Cookham | 795 c127GC (Link to this contribution)

It is a very good question, and the answer is that we do not have the exact information as to the...

Lord Deben | 795 c127GC (Link to this contribution)

When my noble friend sheds some light on that, would he be kind enough to explain something which...

Lord Young of Cookham | 795 cc127-8GC (Link to this contribution)

Seeing whether one can net it off is a very good question, and I will see whether we can do that—...

Subjects

Credit reference agencies

Financial services

Financial markets

Insider trading

Standards

Regulation

Financial Conduct Authority

UK relations with EU

Legislation

Market Abuse (Amendment) (EU Exit) Regulations 2019

Link

View this Parliamentary proceeding on hansard.parliament.uk