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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

"My Lords, I shall be brief on this instrument and brief to the point of extinction on some of the others. I wish I thought that that would have any significant impact on the length of the debates we are going to have, but I fear that my brevity may …..."
Lord Tunnicliffe - View Speech

View all Lord Tunnicliffe (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

"Will the noble Lord consider my point on paragraph 2.1 of the Explanatory Memorandum? It assures us that these powers will be used in a narrow way to manage the transition and not to introduce new policy. That is quite a strong statement, but it is nowhere on the record …..."
Lord Tunnicliffe - View Speech

View all Lord Tunnicliffe (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

"For once, it would be nice to get it right. The Minister is moving that they be approved...."
Lord Tunnicliffe - View Speech

View all Lord Tunnicliffe (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, in trying to take my role seriously, I staggered my way through the Explanatory Memorandum to try to understand this SI. It all seemed pretty straightforward. Basically, at the moment if you have a prospectus approved by an EEA regulator, it can be used in the UK. We …..."
Lord Tunnicliffe - View Speech

View all Lord Tunnicliffe (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

"The suggestion that the EEA does not exist, because we are out of the EU, is surely not valid. Many regulations specify how they apply to different countries. It would be entirely available to the Government to say that the exemption for public moneys should apply to EEA countries and …..."
Lord Tunnicliffe - View Speech

View all Lord Tunnicliffe (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
Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019

"My Lords, I am afraid that despite my efforts I can find nothing wrong with this statutory instrument. It seems to be perfectly straightforward and necessary to manage the situation. I thank the noble Baroness, Lady Kramer, for reminding us of the Libor scandal. It was a dreadful period in …..."
Lord Tunnicliffe - View Speech

View all Lord Tunnicliffe (Lab - Life peer) contributions to the debate on: Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Packaged Retail and Insurance-based Investment Products (Amendment) (EU Exit) Regulations 2019

"When I read the SI with care, it seemed straightforward and to do its work. I was seeking to see if there was any new policy, and the new policy that I discovered was the Venezuela point. I hope the Minister will be kind enough to write to me explaining …..."
Lord Tunnicliffe - View Speech

View all Lord Tunnicliffe (Lab - Life peer) contributions to the debate on: Packaged Retail and Insurance-based Investment Products (Amendment) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 18 Feb 2019
Public Record, Disclosure of Information and Co-operation (Financial Services) (Amendment) (EU Exit) Regulations 2019

"My Lords, looking through this statutory instrument to see whether there were any policy shifts, as far as I can understand it, the EEA countries have better protection for their confidential information than third countries do. This statutory instrument takes that special protection away and then requires agreements to be …..."
Lord Tunnicliffe - View Speech

View all Lord Tunnicliffe (Lab - Life peer) contributions to the debate on: Public Record, Disclosure of Information and Co-operation (Financial Services) (Amendment) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 11 Feb 2019
Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019

"My Lords, I thank the Minister for introducing these three SIs. However, once again, it gives me no pleasure to be here; these various SIs have ruined yet another weekend and are in pursuit of an outcome which all sane people believe is stupid and potentially catastrophic. It need not …..."
Lord Tunnicliffe - View Speech

View all Lord Tunnicliffe (Lab - Life peer) contributions to the debate on: Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019

Speech in Lords Chamber - Mon 11 Feb 2019
Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019

"I thank the noble Earl for that explanation and apologise for misunderstanding him.

The task we have is under Section 8 of the European Union (Withdrawal) Act, which is a very narrow task. My concerns are perhaps quite small and detailed, but I think that there is a fundamental concern …..."

Lord Tunnicliffe - View Speech

View all Lord Tunnicliffe (Lab - Life peer) contributions to the debate on: Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019