Previously called Standing Committees, Public Bill Commitees study proposed legislation (Bills) in detail, debating each clause and reporting any amendments to the Commons for further debate.
There are at least 16 MPs on a Committee, and the proportion of parties reflects the House of Commons, so the government always has a majority.
[Philip Davies in the Chair]
Victoria Saporta, Sheldon Mills and Edwin Schooling Latter gave evidence.
Simon Hills and Daniel Cichocki gave evidence.
Paul Richards gave evidence.
[Dr Rupa Huq in the Chair]
Chris Cummings gave evidence.
Emma Reynolds and Catherine McGuinness gave evidence.
Adam Farkas and Constance Underwood gave evidence.
Gurpreet Manku gave evidence.
Peter Tutton gave evidence.
[Philip Davies in the Chair]
We will now hear from Susan Hawley, from Spotlight on Corruption, who is joining us remotely. I remind colleagues that we have until 12.15 pm for this session. Sue, please could you introduce...
[Dr Rupa Huq in the Chair]
Hugh Savill gave evidence.
Duncan Hames gave evidence.
Jesse Griffiths and Fran Boait gave evidence.
Hon. Albert Isola MP gave evidence.
(Morning)
I beg to move amendment 19, in clause 1, page 2, line 21, at end insert— “(7A) The Secretary of State must, within three years of this Act being passed,...
Question proposed, That the schedule be the First schedule to the Bill.
Question proposed, That the clause stand part of the Bill.
I beg to move amendment 20, in schedule 2, page 63, line, at end insert— “(ba) the target for net UK emissions of greenhouse gases in 2050 as set out in the Climate Change Act 2008 as...
[Dr Rupa Huq in the Chair]
I beg to move amendment 21, page 63, line 5, in schedule 2, at end insert— “( ) high standards in social practice and corporate governance including pay, adherence...
I beg to move amendment 23, in clause 3, page 4, line 31, at end insert— “(9A) The Treasury must, within six months of making any regulations under this section, prepare, publish and...
Question proposed, That the clause stand part of the Bill.
I beg to move amendment 40, in schedule 3, page 79, line 25, after “activities” insert “in the UK and internationally”. This amendment would ensure the...
Question proposed, That the clause stand part of the Bill.
I beg to move amendment 32, in schedule 4, page 89, line 11, at end insert— “11A (1) Article 500d (temporary calculation of exposure value of regular-way purchases...
[Philip Davies in the Chair]
I beg to move amendment 28, in clause 8, page 7, line 38, at end insert— ‘(7) In reviewing critical benchmarks in accordance with Article A20 of the...
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
[Dr Rupa Huq in the Chair]
I beg to move amendment 3, in clause 16, page 23, line 13, leave out “latest” and insert “most recent previous”. This amendment clarifies what the FCA has...
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
I beg to move amendment 4, in schedule 6, page 100, line 31, at end insert— “(i) an order under section 143S, or”. This amendment extends the definition of...
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Amendments made: 12, in schedule 9, page 151, line 16, leave out “granting an application under section 271A” and insert “under section 271A granting an...
[Dr Rupa Huq in the Chair]
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
I beg to move amendment 18, in schedule 10, page 164, line 7, leave out “services” and insert “investment services, or performing investment...
Clause 28 introduces schedule 11, which amends the Financial Services and Markets Act 2000 to put in place a new process so that the FCA can more quickly cancel the authorisation of firms that it...
Question proposed, That the schedule be the Eleventh schedule to the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
[Philip Davies in the Chair]
Before I call Pat McFadden, it might be helpful if I give a bit of guidance so that we do not go off-piste from the scope of the clause. To clarify, the scope of the clause takes in the debt...
I beg to move amendment 36, in clause 33, page 39, line 30, a t end insert— “(c) the successor account must bear, in each financial year, at least the...
I beg to move amendment 30, in clause 34, page 40, line 33, a fter “performance” insert “including information relating to environmental, social...
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
Question proposed, That the clause stand part of the Bill.
[Philip Davies in the Chair]
‘(1) The Treasury must prepare and publish a report on progress towards regulatory equivalence recognition for UK-based financial services firms operating within the European Union. (2)...
“(1) The Treasury must prepare and publish a report on the Government’s strategy for financial services after the UK has left the European Union. (2) The report should include...
“(none) In section 22 of the Financial Services and Markets Act 2000 (regulated activities), after subsection 1A insert— ‘(1AA) An activity is also a regulated activity for the...
‘(1) The Financial Services and Markets Act 2000 is amended as follows. (2) In section 1C, after subsection 2(e) insert— “(ea) the general principle that firms should not profit...
[Dr Rupa Huq in the Chair]
‘(1) The Proceeds of Crime Act 2002 is amended as follows. (2) In section 303Z1(1) after “bank” insert “, authorised electronic money institution”. (3) In section...
‘(1) The Treasury must, every year, publish and lay before both Houses of Parliament a report on its progress in pursuit of international action on public country-by-country reporting by...
“(1) When the FCA makes a recommendation that a self-regulatory organisation be removed from Schedule 1 to the MLR pursuant to Paragraph 17 of the Oversight of Professional Body Anti-Money...
“(1) Section 137C of the Financial Services and Markets Act 2000 shall be amended as follows. (2) In subsection (1A), substitute ‘one or more specified descriptions of...
“The Treasury must by regulations make provision for— (a) buy-now-pay-later credit services, and (b) other lending services that have non interest-bearing elements to be regulated by...
‘(1) The Financial Services Act 2012 is amended as follows. (2) After section 77 (Power of the Treasury to require FCA or PRA to conduct an investigation) insert— “77A Power of...
“(1) Schedule 6 of the Financial Services and Markets Act (2000) is amended as follows. (2) After paragraph 2D(2)(c) insert— ‘(d) the risks of consumer detriment associated with...
“(1) A relevant body commits an offence if it— (a) facilitates an economic crime; or (b) fails to take the necessary steps to prevent an economic crime from being committed by a...
‘(1) Regulation 3 (Private Person) of the Financial Services and Markets Act 2000 (Rights of Action) Regulations 2001 is amended as follows. (2) In paragraph 1(a), after...
“(1) The Chancellor of the Exchequer must review the effect of the use of the powers in this Act in Scotland and lay a report of that review before the House of Commons within six months of...
“(none) Any provision made by the Financial Conduct Authority under this Act may not be made unless a draft of the provision has been laid before and approved by a resolution of the House...
“The Chancellor of the Exchequer must conduct an assessment of the impact of this Act on the UK meeting its Paris climate change commitments, and lay it before the House of Commons within...
“(1) The Treasury must, within six months of this Act being passed, prepare, publish and lay before Parliament a report on the effects on money laundering of the provisions in section 31 of...
“(1) The Co-operative and Community Benefit Societies Act 2014 shall be amended as follows. (2) In section 4, leave out subsections (1) and (2). (3) Leave out sections 67 and 68. (4) In...
“(1) The Financial Services and Markets Act 2000 is amended as follows. (2) After Section 1C insert— ‘1CA Duty of care specification (1) In securing an appropriate degree of...
Committee membership and attendance (out of 12)
Chairpersons
Members
[ Committee memberships can change partway through ]
