My Lords, financial services fulfil a vital role for people and businesses across the UK and the Government are committed to ensuring high standards of customer protection. These regulations form part of this commitment by strengthening protections for customers, including consumers, businesses and …
My Lords, I welcome the opportunity to speak on this statutory instrument in this brief debate. We note that these regulations build on previous legislation and arise from a consultation that began under the previous Conservative Government in July 2023.
I agree with the Minister that the extension…
My Lords, the regulations being introduced today will remove the time limit on a temporary exemption which pension funds currently have from clearing standardised over-the-counter derivatives contracts, such as interest rate swaps, through a central counterparty. This means that the exemption will c…
I thank my noble friend the Minister for his clear and helpful introduction of these regulations.
I just have two issues to raise; it would overegg them to describe them as issues of concern, but we need to recognise them. First, these clearing obligations are there to protect investors. The level …
My Lords, it may not surprise your Lordships that before we start the debate on the first group, I remind the Committee again of the protocol around declaring interests. As I have mentioned, noble Lords should declare relevant interests at each stage of proceedings on a Bill. That means that in Comm…
My Lords, it may not surprise noble Lords that, before we start the debate on the first group, I again remind the Committee of the protocol around declaring interests. As I mentioned last week, noble Lords should declare relevant interests at each stage of proceedings on a Bill. That means that in C…
I thank the noble Lord for those comments. We will try to resolve this through the usual channels, but there are six days and this is the fifth day. We want to make progress today and we want to complete Committee on the sixth day, which is Wednesday this week.
Clause 17: Landlords etc: financial p…
My Lords, before we start the debate on the first group, I remind the Committee again of the protocol around declaring interests. As I mentioned last week, noble Lords should declare relevant interests at each stage of a Bill’s proceedings. That means that, in Committee, relevant interests should be…
My Lords, I am grateful to the noble Lord, Lord Sharkey, for securing this debate and for his thoughtful and comprehensive contribution on the future of the SME sector. I am also grateful to the right reverend Prelate for his contribution. I look forward to receiving a copy of the report that he men…