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Speech in Lords Chamber - Mon 18 Feb 2019
Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019

"Was the noble Lord in the House to hear the exchanges between the chair of Sub-Committee A and my noble friend Lord Rooker about a letter which apparently is going to be sent to the Treasury, but has not been made available to your Lordships, complaining about the way that …..."
Lord Adonis - View Speech

View all Lord Adonis (Lab - Life peer) contributions to the debate on: Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019

"My Lords, the noble Lord is a distinguished parliamentarian of long experience. Does he not worry that the tone of self-congratulation which we always adopt in this House for the way we conduct scrutiny and the excellence of our processes is coming under serious strain as a result of this …..."
Lord Adonis - View Speech

View all Lord Adonis (Lab - Life peer) contributions to the debate on: Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019

"My Lords, I have amendments down in respect of the later statutory instruments, and on the substance of this statutory instrument I do not have much to add to what we have heard so far from the two noble Lords. However, the earlier exchanges raise significant questions. I put on …..."
Lord Adonis - View Speech

View all Lord Adonis (Lab - Life peer) contributions to the debate on: Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

"At the end insert “but this House regrets that no consultation was undertaken on this instrument despite the impact on businesses, particularly those involved in capital markets.”..."
Lord Adonis - View Speech

View all Lord Adonis (Lab - Life peer) contributions to the debate on: Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

"My Lords, perhaps also for the avoidance of doubt I should make it clear to the noble Lord, Lord Sharkey, that this is not a fatal amendment; it is a regret amendment. I have laid other amendments to the later statutory instruments.

The noble Lord, Lord Lilley, who made a …..."

Lord Adonis - View Speech

View all Lord Adonis (Lab - Life peer) contributions to the debate on: Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

"My Lords, there has been no public consultation. The bank to which the noble Lord is now an adviser may have been consulted. I do not know. He can perhaps tell us—because private sources of information are the main ones—whether it has been one of the organisations which have been …..."
Lord Adonis - View Speech

View all Lord Adonis (Lab - Life peer) contributions to the debate on: Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

"I mean precisely what the Government themselves say in paragraph 10 of the Explanatory Memorandum of these regulations:

“HM Treasury has not undertaken a consultation on the instrument”.


That is what I mean...."

Lord Adonis - View Speech

View all Lord Adonis (Lab - Life peer) contributions to the debate on: Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

"My Lords, I read the words of paragraph 10 very precisely. Regarding the engagement with stakeholders, the noble Lord should be very careful about making himself a defence industry for the Treasury on these matters. The reality is that there has been engagement with stakeholders—it says so here. However, the …..."
Lord Adonis - View Speech

View all Lord Adonis (Lab - Life peer) contributions to the debate on: Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

"My Lords, the noble Lord said that I should be precise and accurate. My amendment to the Motion says that,

“this House regrets that no consultation was undertaken on this instrument”.

Paragraph 10.1 of the Explanatory Memorandum in respect of these regulations says:

“HM Treasury has not undertaken a consultation …..."

Lord Adonis - View Speech

View all Lord Adonis (Lab - Life peer) contributions to the debate on: Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019

"I am grateful to the noble Lord for making that clear. However, perhaps I may also make it clear to him that the time we have available is down to the Government. It is not because of some extra-terrestrial force that has been at work; it is because of the …..."
Lord Adonis - View Speech

View all Lord Adonis (Lab - Life peer) contributions to the debate on: Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019