"I thank the Minister for hosting this second day of Report with such grace. I will focus my remarks on Amendment 64, to which I added my name. I am very grateful to the noble Baroness, Lady Bowles of Berkhamsted, for bringing this important issue before the House again.
"My Lords, notwithstanding the anomalies that have been discussed—there are significant anomalies in insurance in England as well—we have some concerns about this amendment. It would hand the Treasury very extensive powers to act through secondary legislation, including the ability to amend primary legislation. We have raised concerns consistently in …..." Lord Altrincham - View Speech
"My Lords, these amendments reflect a number of important concerns about the proposed transfer of anti-money laundering supervision to the FCA. We do not believe that each of these points requires legislative commitment. However, we have also been made aware of serious concerns from industry about how this transition is …..." Lord Altrincham - View Speech
"I thank the Minister for bringing forward these already tabled amendments, assembled this evening in group 4, and declare my interest as a director of South Molton Street Capital. These amendments, as the Minister explained, remove duplication, correct drafting, make the provisions of the Bill work better together, and make …..." Lord Altrincham - View Speech
"My Lords, we take a different view on the Financial Ombudsman Service. Our position is that the present FOS model now requires more fundamental reform. We propose that the Treasury should publish draft legislation to replace the FOS with a new financial adjudication service, alongside a dedicated financial services chamber …..." Lord Altrincham - View Speech
"We thank the noble Lord for standing in for the Minister at the end of term; I do appreciate that. A recent Charity Commission survey found that nearly one in five charities has experienced difficulties in opening a new bank account. This has been repeatedly discussed in your Lordships’ House, …..." Lord Altrincham - View Speech
"I thank my noble friend Lord Harlech of the Coldstream Guards for securing this debate and I thank the Minister for hosting us with such courtesy, as he always does.
I start by noting that the strategic defence review presented our defence position very clearly last year, but at that …..." Lord Altrincham - View Speech
"My Lords, I thank all noble Lords who have spoken in this debate and the Minister for his usual courtesy in hosting it and for his explanation of the rather undefined windfall tax that my noble friend talked about. In particular, I note the lively contributions of my noble friend …..." Lord Altrincham - View Speech
"My Lords, I speak briefly to Amendments 155 to 158 and 160 in the name of the noble Baroness, Lady Kramer, and hope that she will forgive me as a former banker with cultural contamination, perhaps. I notice a lot of quite warm language about banking in this debate, with …..." Lord Altrincham - View Speech
"My Lords, I will speak to Amendment 162 in the name of the noble Baroness, Lady Bowles—perhaps from the Liberal Democrat risk-transfer derivative desk. This amendment raises what seems to be a sensible and practical point about certainty in the treatment of insurance-linked securities and related risk-transformation arrangements. Insurance-linked securities …..." Lord Altrincham - View Speech