Results 101–120 of 656 for speaker:Lord Eatwell

Financial Services (Banking Reform) Bill — Report (1st Day) (26 Nov 2013)

Lord Eatwell: I am sure that the noble Lord, as a distinguished solicitor, would attest to that, as indeed he has done. It seems to me that if members of the professions are required to pass examinations to show professional competence and to undertake rigorous training, bankers should do the same. That is what Amendment 21 seeks to achieve. For example, proposed new Section 65A(2)(b) says that the...

Financial Services (Banking Reform) Bill — Report (1st Day) (26 Nov 2013)

Lord Eatwell: Being a “fit and proper person” would perhaps be appropriate. If the noble Lord is not aware of the phrase, it is the standard regulatory threshold which anybody operating in financial services must attain. Amendment 21 seeks to capture the need for proper training, continuous development and the maintenance of proper professional standards via a licensing regime. I have enormous sympathy...

Financial Services (Banking Reform) Bill — Report (1st Day) (26 Nov 2013)

Lord Eatwell: My Lords, I am very grateful to the Minister for that expert summary of a complex set of amendments. However, I hope that I may ask him one question before he sits down. He referred to our Amendment 12, which would shorten the period before a review takes place, and said that he was very sympathetic and receptive to that point. Will he therefore accept Amendment 12?

Financial Services (Banking Reform) Bill — Report (1st Day) (26 Nov 2013)

Lord Eatwell: Does the Minister mean that he is content to return to this issue at Third Reading?

Financial Services (Banking Reform) Bill — Report (1st Day) (26 Nov 2013)

Lord Eatwell: Thank you very much. This is a complicated set of interrelated amendments. I congratulate the Government on their Amendments 11 and 16 in which they have moved towards the commission’s position in proposing an independent review. By the way, I did not find any evidence that new Section 142J had been deleted, which was the previous requirement that the PRA conducted the review. Is there...

Financial Services (Banking Reform) Bill — Report (1st Day) (26 Nov 2013)

Lord Eatwell: My Lords, noble Lords will notice that Amendment 3 is identical to Amendment 6, which is in the name of the group of people who we could perhaps call the commissioners—members of the Parliamentary Commission on Banking Standards who have considered these matters with care and at great length. It is interesting that the noble Lord said just now that no evidence had been provided about issues...

Financial Services (Banking Reform) Bill — Report (1st Day) (26 Nov 2013)

Lord Eatwell: My Lords, I am grateful to my noble friend for moving his amendment and for pointing out the extraordinary complexity and confusion about the procedure that the Bill has gone through to get to this stage. As he pointed out, it came from the Commons as 35 pages and is now 170 pages. Substantial matters were introduced in Committee. Substantial errors were identified in Committee—even, as we...

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: Which amendment proposed by the PCBS have the Government accepted?

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: Will the noble Lord agree that Amendment 114, at least, should be withdrawn until it can be considered by the Constitution Committee and the Delegated Powers and Regulatory Reform Committee? He has plenty of time to bring it back on Report if he then has substantial justification for it, and it would give considerable comfort to the Committee.

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: Perhaps I can be of help to the noble Lord. I do not know whether he has had the opportunity to see the Bank of England response to the final report published today, where the Bank of England provides the answer which the noble Lord, Lord Newby, was unable to provide. It says: “For the present, the Government’s legislative proposals in this area will apply only to deposit takers”—

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: I usually try to be difficult. When I try to be helpful I am stopped. I was referring to the Bank of England response, published today, in which it says that, “the Government’s legislative proposals in this area”— this is referring to the senior persons regime which we talked about last time— “will apply only to deposit takers but not to investment banks and insurance...

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: My Lords, first, with respect to Amendment 113A, it is useful to see the use of the affirmative procedure here. However, the noble Lord will recall that the Delegated Powers Committee recommended an amendment which referred to the amendment of clauses that deal with ring-fencing. I asked more than two weeks ago how the Treasury would react to the Delegated Powers Committee in this respect and...

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: My Lords, my noble friend has made a very strong case. He needed to add one other element to persuade the Government, which is that this would enhance competition. If one improved information in this way, then, given the enhancement of consumer choice, the competitive objective of the Government would be better served. This would be a diminution of some of the severe problems of asymmetric...

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: My Lords, I am delighted that the Liberal Democrats are coming behind the proposals developed by my noble friend Lord Mitchell. I hope they acknowledge his success in having the various clauses limiting payday loans and high-cost credit agreements inserted during the passage of the Financial Services Act 2012. Given that that Act is now in place and the measures advanced by my noble friend...

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: My Lords, this amendment refers to portable account numbers. I am sure that noble Lords will have read in yesterday’s Financial Times the story about the voluntary endeavour by the banks to increase the possibility of customers switching their accounts from one bank to another. The current switching drive does not include portability of account numbers. As the Financial Times boldly...

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: The noble Lord just said that the payment systems regulator is going to be asked to do this. What timetable is the regulator going to be given?

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: My Lords, that is why the amendment specifies 12 months. It seems that what the Government are saying is that they are behind the concept of competition but they are not behind the means of making that concept actually work. However, I must say that it is encouraging that the payment systems regulator is being asked to study this matter. It would be more encouraging if we were given some...

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: My Lords, that was a very unsatisfactory answer. It was both analytically weak and unsatisfactory in terms of the noble Lord’s argument. Let us first deal with the economics. As the noble Lord well knows, in the face of asymmetric information, competition is not necessarily efficient. He knows that: he learnt that at Cambridge. In those circumstances, to argue simply that competition will...

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: My Lords, I have commented on a number of occasions that despite all the considerable endeavours since the financial crisis by the Treasury itself, by the FSA as it then was—not by the Bank of England—by the Independent Commission on Banking and now by the parliamentary commission, there has been no significant thought applied to the manner in which the banking system could be...

Financial Services (Banking Reform) Bill: Committee (3rd Day)(Continued) (23 Oct 2013)

Lord Eatwell: My Lords, that was not a very satisfactory answer. First, market sensitivity is an extraordinary red herring. Whoever wrote that bit should not be allowed to write any bits again. This is not about market sensitivity: it is about the overall structure of the banking sector and any issues of market sensitivity would, of course, be kept carefully out. Anybody would do that, so it is a really...


<< < 1 2 3 4 5 6 7 8 9 10 > >>

Create an alert

Advanced search

Find this exact word or phrase

You can also do this from the main search box by putting exact words in quotes: like "cycling" or "hutton report"

By default, we show words related to your search term, like “cycle” and “cycles” in a search for cycling. Putting the word in quotes, like "cycling", will stop this.

Excluding these words

You can also do this from the main search box by putting a minus sign before words you don’t want: like hunting -fox

We also support a bunch of boolean search modifiers, like AND and NEAR, for precise searching.

Date range

to

You can give a start date, an end date, or both to restrict results to a particular date range. A missing end date implies the current date, and a missing start date implies the oldest date we have in the system. Dates can be entered in any format you wish, e.g. 3rd March 2007 or 17/10/1989

Person

Enter a name here to restrict results to contributions only by that person.

Section

Restrict results to a particular parliament or assembly that we cover (e.g. the Scottish Parliament), or a particular type of data within an institution, such as Commons Written Answers.

Column

If you know the actual Hansard column number of the information you are interested in (perhaps you’re looking up a paper reference), you can restrict results to that; you can also use column:123 in the main search box.