argyrotsipi/train-dataset huggingface dataset:
Bank of England and Financial Services Bill [HL] — House of Lords, 2016-05-03
Topic: Government Operations
James Bridges (Conservative, Centre-right): My Lords, I beg to move that this House do agree with the Commons in their Amendment 7—and on this, too, we have been in listening mode This amendment recognises the important role played by the Treasury Select Committee in its scrutiny of the Financial Conduct Authority and appointments to its top job. Through the committee’s programme of pre-commencement hearings it questions appointees to several posts before they start work. After appointees have started, as your Lordships will know, they appear regularly before the committee. The Government welcome this scrutiny of appointees Our amendment therefore ensures that the committee always has the chance to scrutinise a newly appointed chief executive of the Financial Conduct Authority before they start work. It provides that no one who is appointed as CEO of the FCA can start work until they have appeared before the TSC or three months have passed. This gives the TSC time to call them in, and once it has questioned the appointee in relation to the appointment, he or she can get to work. There is an exception to this if the appointment of a chief executive is made on an acting basis pending a further appointment; for example, where an appointment must be made urgently in response to a sudden vacancy. However, to appoint a permanent CEO, the Government must give the TSC the chance to hold a hearing As your Lordships will be aware, my right honourable friend the Chancellor and the chair of the Treasury Select Committee have reached an agreement that further reinforces the committee’s scrutiny role. This is set out in a letter from the Chancellor to the chair of the TSC, which has been published on the TSC’s website. It reads as follows: "During the passage of the Bank of England and Financial Services Bill, we have considered the role of the Treasury Select Committee … in scrutinising the appointment of the Chief Executive of the Financial Conduct Authority … This scrutiny is important and welcome. I will therefore ensure that appointments to the Chief Executive of the FCA are made in such a way to ensure the TSC is able to hold a hearing, after the appointment is announced but before it is formalised. Should the TSC recommend in its report that the appointment be put as a motion to the whole House, the government will make time for this motion and respect the decision of the House. Additionally, I will seek, in a future Bill, to make a change to the legislation governing appointments to the FCA CEO to make the appointee subject to a fixed, renewable 5-year term. This would not apply to Andrew Bailey, who I recently announced as the new head of the FCA, but would first apply to his successor. I believe that these changes will reinforce the Treasury Committee’s important scrutiny role" This commitment, combined with this amendment, which ensures that the Treasury Committee always has the opportunity to hold a hearing with an appointee, serves as a strong recognition of the committee’s vital role in scrutinising the FCA and its CEO. I beg to move.
Bank of England and Financial Services Bill [HL] — House of Lords, 2016-05-03
Topic: Government Operations
Terence Langley Higgins (Conservative, Centre-right): My Lords, as a former chair of the Liaison Committee in the House of Commons, which co-ordinates the work of the Select Committee system, as well as having been chairman of the Treasury and Civil Service Select Committee, I very much welcome the proposals put forward by the Government. Of course, there are various qualifications, which have just been mentioned, but I believe that this is a significant step forward and that it will improve the way in which the appointments system works within overall government. Therefore, I think that this is an excellent amendment and I heartily support it.
Bank of England and Financial Services Bill [HL] — House of Lords, 2016-05-03
Topic: Government Operations
James Bridges (Conservative, Centre-right): My Lords, I am delighted to hear the overall approval and support for the principles and thrust behind this amendment. Let me begin with the points that the noble Lord, Lord Sharkey, made. He spoke of interference by the Executive, a point he has made before. I will not rehearse the arguments again that the Government made in response to that, but we refuted many of those at the time. In response to the point that this should be made statutory, I simply point out that the commitments we have made have been affirmed by the Chancellor in writing, as I said, and by Ministers in both Houses. As the chair of the Treasury Select Committee himself points out in his letter to the Chancellor, there are several different means, both statutory and, crucially, non-statutory, for bolstering Select Committee scrutiny of appointments. Indeed, non-statutory provisions are the norm. The Cabinet Office and the Liaison Committee keep a list of some 50 appointments subject to pre-appointment hearings with varying arrangements, and the vast majority of those are by agreement Moving on, the noble Lord asked when we will bring forward the changes to length of term to make it fixed for five years. We are seeking the earliest opportunity, and the House authorities confirmed that it was not in scope for this stage of the Bill. That is why it is not in this Bill My noble friend Lord Flight and the noble Baroness, Lady Kramer, also made a point that I know others have made and which has rumbled around for a long time: whether or not an arrangement such as this should be made for other appointments in government. I know that there is a divergence of views on whether this should be done. The Government have previously set out their concerns about appointments to these posts, such as the ones that have been cited, and will address these in fuller detail in their response to the Treasury Select Committee’s report, which will be published in due course As well as looking forward to that response, it is worth reminding your Lordships just how we got here—this picks up on the point that the noble Lord, Lord Davies, just made. We are indeed responding to points raised during the passage of this Bill specifically concerning the appointment of the chief executive of the FCA. That is why the Government’s amendment and the agreement reached between the Chancellor and the chair of the Treasury Select Committee are focused on this particular appointment. I would further argue that this amendment and this agreement sit within the context of a Bill that significantly strengthens the governance, transparency and accountability of the Bank of England. This includes enhancing the accountability of the Bank to Parliament by making the whole Bank subject, for the first time, to NAO value-for-money reviews. I fully understand that the points made by the noble Baroness, Lady Kramer, and my noble friend Lord Flight will continue to rumble on. I commend the amendment to the House.
Bank of England and Financial Services Bill [HL] — House of Lords, 2016-05-03
Topic: Law and Crime
Thomas Ashton (Conservative, Centre-right): My Lords, the amendment addresses the important question of how the banks are treating politically exposed persons, or PEPs, in the light of new global standards for anti-money-laundering and counterterrorist financing. I know that this issue has interested many noble Lords, directly and in respect of their families and close associates. I can tell the House that the Government share those concerns, which is why we have accepted this amendment to the Bill The Government intend to implement new money-laundering regulations by June 2017 at the latest. We will consult on the new regulations later this year. Organised crime, international corruption and terrorism cross national borders, so co-ordinating with our neighbours and Governments around the world is vital. We do this through the Financial Action Task Force, which revised its global minimum standards in 2012. At the same time as being robust, the UK’s anti-money-laundering and counterterrorist financing regime must be proportionate if it is to be effective and command public support. Resources must be focused on higher-risk areas and individuals, in line with accepted practice. The Government have always encouraged banks to take a sensible and proportionate approach to this issue. They should apply appropriate "know your customer" measures that are tailored to reflect the risk posed by individual customers. I believe that several Members of this House and the other place have experienced difficulties with their bank accounts. No one should have their banking facilities refused simply because they have been identified as a PEP In addition to its focus on proportionality, the amendment addresses guidance on PEPs and the handling of certain PEP complaints. The Government will consult later this year on new money-laundering regulations and we will ask specific questions about the provision of guidance and the adjudication process. We will fully consider the letters that noble Lords have already sent to us on this topic when preparing our response to the consultation The Government’s anti-money laundering and counterterrorist financing regime is making the UK a more hostile environment for illicit finance. The amendment will ensure that a strong message is sent out about applying the rules in a proportionate and sensible manner and I commend it to the House. I beg to move.
Bank of England and Financial Services Bill [HL] — House of Lords, 2016-05-03
Topic: Government Operations
Howard Emerson Flight (Conservative, Centre-right): My Lords, I welcome the amendment but the issue of PEPs is by no means solved and there is still a lot of nonsense happening. The last ruling by the noble Lord, Lord Deighton, was, interestingly, that PEPs were politicians in countries outside the UK and not within it; that came as a great shock to all of us. The EU rules make it clear that that is not the case and that PEPs are to be treated as domestic. In theory, that includes all Members of this House and the House of Commons and many others. That is completely ridiculous. The bottom line is whether people have the power to engage in corruption. I suggest that Members of this House, or in the Commons, do not have the power to engage in corruption unless they are a Minister Banks are criticised, but operating a bank account for a PEP is a complete loss leader, because banks are obliged to always check the source of funds and question any payment into the account. This is completely ridiculous unless you are dealing with people who are potentially corrupt. Where is all this coming from? It is the FCA that is giving out very strict guidelines to banks on how the PEP rules should be implemented. As I understand it, those guidelines are, at the moment, contrary to the Government’s own arrangements and I fear they may remain too demanding in future.
Bank of England and Financial Services Bill [HL] — House of Lords, 2016-05-03
Topic: Government Operations
Thomas Ashton (Conservative, Centre-right): The consultation will be conducted under the Cabinet Office rules for consultations—so it will be more than three weeks. I cannot today tell noble Lords when it is going to start. The Treasury accepts that this is an important issue and has accepted the amendment. It wants people to contribute to the consultation—so, although I cannot give an exact date for when it will start, it will be a proper consultation.
Bank of England and Financial Services Bill [HL] — House of Lords, 2016-05-03
Topic: Government Operations
Thomas Ashton (Conservative, Centre-right): I can reassure my noble friend, because the date that the regulations have to be brought in is June 2017, so the consultation will take place in the second half of this year. It will be implemented before June 2017. I think that that is pretty clear and there is no question of it being put into the long grass. I have subsequently learned that the consultation will be 12 weeks and it will be after July—so I hope that my noble friend will be reassured by that My noble friend Lord Flight basically implied that any enhanced due diligence for all Peers, MPs and MEPs would be ridiculous. The directive and the Financial Action Task Force do not agree. They think that anyone who is an MP should have some form of enhanced due diligence. Of course, there is a huge range that can take place within enhanced due diligence. The point of the amendment and the regulations will be to make sure that there is a true difference. A Back-Bench Peer who may not have the position to influence corrupt acts—although every Peer and MP has access to people, so they are not exactly like every citizen—will have some form of enhanced due diligence, but it should be proportionate. The way that this will be done will ensure that. The banks are in absolutely no doubt about the Government’s view on this. The Chancellor has personally written to the heads of the large banks, and the Economic Secretary to the Treasury has written to colleagues. Every bank now has a contact person with whom Peers, MPs and MEPs can get in touch if they feel that the enhanced due diligence is too great.
Bank of England and Financial Services Bill [HL] — House of Lords, 2016-05-03
Topic: International Affairs
Terence Langley Higgins (Conservative, Centre-right): Before my noble friend comes to his peroration, perhaps I could ask this. All this consultation is taking place against the background of an impending referendum on whether we remain a member of the European Union. Am I wrong in thinking that all this depends on European directives, and that if the vote were to go in favour of our leaving the European Union we would have to look at the whole thing again?
Bank of England and Financial Services Bill [HL] — House of Lords, 2016-05-03
Topic: International Affairs
Thomas Ashton (Conservative, Centre-right): Even if that took place, we would be a member of the European Union for at least two years under the arrangements. But this is based on our staying in; if we did not, we would have to look at a great many things in addition to anti-money laundering procedures—and I am not sure that this would even be top of the list I am sorry to hear about the problems that the noble Baroness, Lady Kramer, has had with her family—but, as I said, the proportional nature of the enhanced due diligence for politically exposed people will be taken account of. The amendment is a good start and I commend it to the House.
Bank of England and Financial Services Bill [HL] — House of Lords, 2016-05-03
Topic: Labor
James Bridges (Conservative, Centre-right): My Lords, I thank noble Lords who have spoken in this debate. Let me pick up on the final point which was just made by the noble Lord, Lord McKenzie. I heed what he says about getting access to this amendment sooner but I would somewhat refute what he says about the rushed nature of the entire policy. When this problem was first identified the Government took immediate action to address it by embarking, as I have mentioned, on the FCA evidence-gathering exercise. However, I thank in particular the noble Lord and the noble Baroness, Lady Drake, for the time that they have spent discussing this clause and amendment with me. I have already committed to write to them shortly to address a number of the very forensic and detailed points that were made to me last week. I will do that as soon as I possibly can A number of your Lordships including the noble Baroness, Lady Kramer, raised a valid question about why we are not backdating this measure to 2015, when the pension freedoms came into effect, and not requiring providers to pay back the early exit charges which they received from customers in the period between April 2015 and when the cap comes into effect. I would make two points on this, as already outlined in my remarks. First, the purpose of this measure is not to require the FCA to assess the fairness of the contractual terms of historic pensions. The intent of the measure is to ensure that early exit charges are not imposed at an inappropriate level which deters consumers from accessing their pension early under the pension freedoms. Clearly, those who have decided, or will decide, to access their pension despite an early exit charge have not, or will not, have been deterred by the existence of such a charge Secondly, I accept the observation that, once in effect, this cap will obviously benefit some consumers who would not have been deterred by the early exit charge in their contract. However, the Government believe that it is an ordinary consequence of introducing a new measure of this sort that those—in this case, consumers—who take an action before the law comes into force do not benefit from the new law. Moreover, it is right that the Government do not rush to make legislation which has any sort of retrospective effect but that they do so only when there is clear and compelling evidence that it is in the public interest, and then make that retrospection as minimal as possible to ensure that the action is proportionate. That is what I and the Government believe that this clause achieves. It is proportionate and focused on those who greatly need it, and that is why I commend it to the House.
Syria: Aleppo — House of Lords, 2016-05-03
Topic: International Affairs
Joyce Anelay (Conservative, Centre-right): My Lords, I give full assurance that we see it as our duty and that of our allies to ensure that evidence is gathered to ensure that perpetrators of breaches of international law and international humanitarian law are held to account. The UK is doing that specifically through projects which we support where very brave people are collecting and preserving information, and I applaud their personal courage in so doing The noble Lord is right: it is critical that we ensure that we work with our allies across the International Syria Support Group and generally to recommit to the political process, to ensure that it is taken forward. In particular, he mentions work to persuade the opposition to the regime in Syria to recommit to that process. We shall continue to do that, but I note that it is very difficult for them to recommit to that political process while the Assad regime—and, it appears from reports, the Russians—are showing that they have no care for the process of cessation of hostilities in Aleppo. If reports are correct that Russia itself is involved in bombing hospitals, the noble Lord is right to say that in no circumstances is there justification for the bombing of civilians Finally, with regard to humanitarian access, we give our full support to regaining it. For example, the regime is blocking access to humanitarian aid even to places such as Darayya, a few kilometres from Damascus and the UN. Road access is easy there; the UN could make it happen; the regime stops it.
Syria: Aleppo — House of Lords, 2016-05-03
Topic: International Affairs
Joyce Anelay (Conservative, Centre-right): My Lords, the Russians clearly have some influence on Assad; I want them to use it in a way that can ensure that the Syrian people have the hope of having a transitional process to peace. Assad continues to attack the very people for whom he should have a care. It is the case that brutality occurs at every turn, every day. I met those doctors and nurses who are treating people in hospitals in Syria, who have come out of Assad’s detention centre, having suffered the most appalling and barbaric torture, and I recall their words. They trained to be doctors, but they are faced with seeing every day the horrific results of what Assad commits on his own people.
Syria: Aleppo — House of Lords, 2016-05-03
Topic: International Affairs
David Arthur Russell Howell (Conservative, Centre-right): My Lords, in seeking to persuade the Russians to change their attitude, has anyone confronted the Russian Ministers with the bald fact that their actions and Russian airstrikes have slaughtered a paediatrician and children in a children’s hospital in the latest attack in Aleppo? Have those facts been put to them at the level of trying to make the Russian people and Government understand that they are tarnishing themselves by pursuing these actions? Could the Minister say anything about reports that President Bashar al-Assad is actually colluding with Daesh in various ways, over oil supplies and other arrangements, in attacking Aleppo with Russian support? Finally, could she convey somehow to the Russian people that they are a very great people—that they have understandable problems and have suffered greatly in the past—but that their leadership now is taking on powers such that many people are coming to question whether Russia is a serious contributor to the society of nations or whether the leadership has gone completely mad?
Syria: Aleppo — House of Lords, 2016-05-03
Topic: International Affairs
Joyce Anelay (Conservative, Centre-right): My Lords, I understand, with regard to presenting to Russia the facts of the impact of its support and direct action in Syria, that that information has been transmitted. Staffan de Mistura is travelling, or has travelled today, to Russia to speak to Foreign Minister Lavrov, and I have no doubt that he will lay out those facts. We are concerned by patterns of co-ordination between the Syrian regime, Russian air forces, and indeed by some of the Syrian Kurdish forces, in their direct conflicts with elements of the moderate armed opposition. My noble friend is right to raise those concerns. It is important that the regime and Russia recognise that, in playing a part on the international stage to bring peace to Syria, it does not then kill the peace off at the start.
Syria: Aleppo — House of Lords, 2016-05-03
Topic: International Affairs
Joyce Anelay (Conservative, Centre-right): My Lords, wanting to bring people to justice is, of course, a long-term commitment, not achieved by short-term statements. It is important that the noble Lord has raised today the issue of the targeting of groups within Syria and, particularly, Aleppo. I have looked at that. Indeed, in the past I have discussed with groups collecting information about the atrocities exactly what it means to individuals who are under attack—particularly the White Helmets, who make such a valuable effort in retrieving people from the rubble and who, while they do so, find themselves barrel bombed by Assad for trying to save lives. This Government share the House of Commons’ condemnation of Daesh atrocities against minorities and the majority Muslim population in Iraq and Syria. That is why we mandated the UN Human Rights Council to investigate Daesh in 2014, and why we are doing everything we can to gather evidence for use by judicial bodies The noble Lord referred to the personal view put forward by my honourable friend Tobias Ellwood. Some people are announcing that there has been genocide but, while the Government agree that there may be a strong case, our view remains that the courts are best placed to judge criminal matters. That is why we are committed to working with our partners in the international community to gather that evidence in order to get that judicial decision as a possibility—to provide an opportunity for the judiciary to make the decision that is rightfully theirs to make.