argyrotsipi/train-dataset huggingface dataset:
Financial Guidance and Claims Bill [HL] — House of Lords, 2017-09-11
Topic: Domestic Commerce
Peta Buscombe (Conservative, Centre-right): My Lords, I thank noble Lords for Amendments 57 to 61. Clause 7 requires the single financial guidance body to monitor and ensure compliance with its standards. It requires the Financial Conduct Authority to periodically review the standards, and how the body is monitoring and enforcing those standards. After completing its review, the FCA is required to provide a report for the single financial guidance body and the Secretary of State. Once again, I reassure the Committee that the standards will not apply to all debt advice providers. These standards will apply only to the body itself and its delivery partners First, I shall address the Amendments 57 and 59, tabled by the noble Lord, Lord Stevenson. I have made the argument previously that the framework set out in Clauses 6 and 7—for the body to set and monitor compliance with quality standards—is the right mechanism for assuring the quality of the services provided by or on behalf of the body. I refer the noble Lord to our discussion on Clause 6, where we discussed the proposed commissioning framework for the procurement of services. There I made the point that it was unnecessary specifically to require the body to publish a commissioning framework, since we would already expect the new body to publish its requirements and expectations, with adequate time for prospective delivery partners to prepare their propositions. I also pointed out that, when contracts are above a certain value, the body will be required to comply with the public contracts regulations, including the requirements to advertise its requirements and undertake a competitive tendering exercise. We hope that those expectations and requirements on the body meet the spirit of the noble Lord’s amendments The noble Lord’s proposed commissioning framework would also have replaced the requirement on the body to set and monitor compliance with quality standards. I made the argument that the standards actually play a different role to a commissioning framework, in that they will assure the quality of the services provided by the body and its delivery partners. The standards therefore play the crucial role of enabling members of the public to have confidence in the services that they receive I disagree with my noble friend Lord Trenchard that there is a concern about the possibility of the culture of the FCA becoming similar to the culture of the body—or maybe that would be a good thing. The body would not necessarily be influenced by the culture of the FCA, because it has a statutory duty to put the consumer first, as I said under the last set of amendments.
Financial Guidance and Claims Bill [HL] — House of Lords, 2017-09-11
Topic: Domestic Commerce
Peta Buscombe (Conservative, Centre-right): I hear what the noble Lord says, but the FCA has a statutory objective to protect consumers. It is clear that the culture of the body will be different, not least because its focus will be to provide a customer-focused service. I hope that that is helpful I turn to Amendments 58, 60 and 61, tabled by the noble Baroness, Lady Kramer, and the noble Lord, Lord Sharkey. These would require the single financial guidance body to produce and publish annually a report of its assessment on compliance with the standards; the FCA to additionally lay a copy of its periodic report on the body’s standards and monitoring framework in Parliament; and the body to publish a substantive response to any recommendations made by the FCA in its report within three months of the FCA providing the body with the report. I agree that it is vital to ensure that the public are confident that the body delivers consistent good-quality information, guidance and advice either itself, or through its delivery partners.
Financial Guidance and Claims Bill [HL] — House of Lords, 2017-09-11
Topic: Domestic Commerce
Rosalind Altmann (Conservative, Centre-right): My Lords, I too support the thrust of this amendment moved by the noble Baroness, Lady Drake, and the remarks of the noble Baroness, Lady Kramer. I hope my noble friends on the Front Bench will take seriously the efforts being made around the House to improve protection for consumers. I whole- heartedly support the aims of the Bill and I congratulate my noble friends on bringing it before the Committee, but adding to it measures such as this would very much strengthen protection for the public.
Financial Guidance and Claims Bill [HL] — House of Lords, 2017-09-11
Topic: Mixed Topics
George Young (Conservative, Centre-right): My Lords, it is the co-pilot again. I thank the noble Lord for tabling these amendments to Clauses 8 and 11. Clause 8 provides for the Secretary of State to give financial assistance to the single financial guidance body; Clauses 9 and 10 provide for those expenses to be recovered respectively from the levy on pension schemes and through the financial services levy At Second Reading and in earlier Committee debates, the noble Lord has questioned this funding framework and the money trail, suggesting that it represents a fundamental change in the way in which things are done currently and that it would radically alter the way in which people operate, particularly in respect of the services provided by MAS. I am not sure that the changes are that fundamental, but, in any case, we think that they are both necessary and beneficial One criticism of MAS made by the Farnish review was that it lacked accountability for the activities it delivered and the money spent. As the noble Lord suggested, we need to learn lessons from our experience with MAS. These funding clauses provide a basis for strong accountability and governance arrangements. We want the body to have a clear focus on undertaking its statutory functions. As happens now with the existing organisations, the body will prepare an annual business plan setting out its planned activities and the associated budget required to deliver its proposals. That plan will be discussed and agreed with the DWP.
Financial Guidance and Claims Bill [HL] — House of Lords, 2017-09-11
Topic: Domestic Commerce
Rosalind Altmann (Conservative, Centre-right): My Lords, I too support the amendment moved by the noble Baroness, Lady Drake. It is an important amendment, and it would be most welcome if my noble friend would seriously consider extending the protection for consumers that this Bill is rightly aiming to achieve. I echo the comments of the noble Baronesses, Lady Drake and Lady Kramer, in terms of focusing on the FCA promoting the interests of consumer protection, perhaps in new ways from what has happened in the past.
Financial Guidance and Claims Bill [HL] — House of Lords, 2017-09-11
Topic: Domestic Commerce
Rosalind Altmann (Conservative, Centre-right): My Lords, Amendment 69 seeks to remove Clause 33, which proposes to cancel legislation, passed by Parliament only last year, which ensures that the pensions guidance body can help members of the public who have bought annuities they neither want nor need, perhaps having been forced to in the environment which existed before the pension freedoms were introduced. Section 2 of the Bank of England and Financial Services Act 2016 amends Section 333A of the Financial Services and Markets Act 2000 and extends the definition of pensions guidance, expanding the scope of Pension Wise so that pensioners who are able to sell their annuity income can access free, impartial guidance before they make this irreversible decision. Since May last year, when the Act was passed, the Government have unexpectedly announced that they have changed their mind and no longer intended to allow people—who had been assured that they would be able to sell unwanted annuities from April 2017—to do so. This decision will obviously have disappointed many of those people, but I accept that Ministers believed it was right However, there are two important reasons why it is unwise and unnecessary to revoke the legislation that was enacted just last year. If we retain authorisation for Pension Wise or the new single financial guidance body and the FCA to facilitate mandatory guidance for people who may, in future, be allowed to sell their unwanted annuities, we will not need to take up precious primary legislative time to introduce the measure once more—that has already been done. We do not need to explicitly remove this measure; it can either be considered redundant or, in so far as it relates to something that already exists but is little known, it could be of use to many members of the public No further regulations have yet been laid in this connection. However, it is important that the single financial guidance body and the FCA should still have a remit to inform or guide the public on selling an unwanted annuity. The particular reason is that it is already possible for people to sell their existing annuities if they are under £10,000. Although the Government changed their mind on anyone’s overall ability to sell an unwanted annuity, there is the ability—which is not widely known—for people to sell one valued at under £10,000. It is surely important for the single financial guidance body or Pension Wise still to be involved in this area and ensure that there is public information and guidance about the risks of such a sale. I beg to move.
Financial Guidance and Claims Bill [HL] — House of Lords, 2017-09-11
Topic: Domestic Commerce
Peta Buscombe (Conservative, Centre-right): My Lords, my noble friend Lady Altmann has moved Amendment 69, which intends to retain the section of the Bank of England and Financial Services Act 2016 which amended FiSMA to allow Pension Wise to offer guidance to consumers wishing to make changes to the payment of their annuity. Pension Wise was set up with the very specific remit of delivering guidance to help people make decisions on their options following the introduction of the pension freedoms. The Pension Wise remit was subsequently extended to include guidance to people who needed help in considering selling their annuity. This would have supported the Government’s proposals at the time to extend the pension freedoms to those who have already purchased an annuity. The Government decided in October 2016 not to proceed with this proposal because of concerns around consumer detriment The new body the Government propose to create in this Bill will inherit the guidance guarantee that Pension Wise provided but will also be able to help with guidance on any pension matters. Therefore, this amendment is not needed. I am particularly grateful to the noble Lord, Lord McKenzie; we entirely agree with the Opposition’s view of these proposals, which would allow those who have already purchased an annuity to sell the income they receive for a lump sum. Following extensive engagement with industry, consumer groups and financial regulators, the Government decided they would not continue with these proposals. Indeed, through discussions with stakeholders it had become clear that, while many annuity providers were willing to allow customers to sell their annuities, it is likely that there would be insufficient buyers to create a competitive market In September 2016, Money Observer reported a survey of 10 annuity providers, in which only one firm said it would purchase annuities issued by others and six ruled themselves out. This corresponded with government findings of a lack of interest from potential purchasers of annuities. This could have led to consumers receiving poor value for their annuity income streams and suffering higher costs in the sales process. The Government estimated that only 5% of annuity holders would have opted to sell their annuity and, although some people have been disappointed, consumer protection is a top priority for the Government. As the noble Lord, Lord McKenzie, said, priorities have to be thought through and this was not considered a key priority. Although some people have been disappointed, it would not be acceptable to allow a market to develop that could produce poor outcomes for consumers. I therefore encourage my noble friend Lady Altmann to withdraw her amendment.
Financial Guidance and Claims Bill [HL] — House of Lords, 2017-09-11
Topic: Domestic Commerce
Rosalind Altmann (Conservative, Centre-right): My Lords, I thank my noble friend for her response and thank the noble Baroness, Lady Kramer, for her support. This is about consumer protection. Of course, I respect the Government’s decision not to approve a secondary annuities market at this point. However, that does not address the fact that there are people out there with annuities worth £10,000 or less who are able to sell them, whether or not there is a market. They are particularly at risk, presumably, of obtaining very poor value. It is not clear to me why we need explicitly to undo legislation that is already in place to ensure that the financial guidance body can at least help people who might want to sell an annuity understand what the risks are. If the new body no longer has any requirement to inform or guide people on this issue, we still leave those consumers high and dry. As the legislation is already in place, it seems rather strange that the Government explicitly want to repeal it. They could just leave it on the statute book and make sure that there is adequate information as part of the new pensions guidance framework.
Non-Domestic Rating (Alteration of Lists and Appeals) (England) (Amendment) Regulations 2017 — House of Lords, 2017-09-11
Topic: Other
Nicholas Bourne (Conservative, Centre-right): My Lords, I am not sure whether that was a question or just an observation on what I said. But if the noble Lord is asking whether I will look at that report and take it seriously then, as he rightly says, it is a respected committee and of course we take its views very seriously, as indeed we do the views of noble Lords around the House.
Update on Proposed Fox-Sky Merger Process — House of Lords, 2017-09-12
Topic: Other
William Fletcher-Vane (Conservative, Centre-right): My Lords, will my noble and learned friend confirm that, with the facts as they are in front of this Secretary of State, it is not open to her—and would not be open to anybody else who might be Secretary of State—to have come to any different conclusion from the one that has been reached?
UK and EU Relations — House of Lords, 2017-09-12
Topic: Other
Annabel Goldie (Conservative, Centre-right): My Lords, may I respectfully remind everyone that the advisory time limit for Back-Benchers is five minutes? We were doing rather well, but there has been a bit of a straggle off the path. I invite your Lordships’ co-operation for the sake of the subsequent speakers, who will be waiting patiently over a considerable period of time if we begin to stray significantly from the five-minute allocation.
Clerk of the Parliaments — House of Lords, 2017-04-24
Topic: Other
Natalie Evans (Conservative, Centre-right): On consideration of the letter from Sir David Beamish KCB announcing his retirement from the office of Clerk of the Parliaments That this House has received with sincere regret the announcement of the retirement of Sir David Beamish KCB from the office of Clerk of the Parliaments and thinks it right to record the just sense which it entertains of the zeal, ability, diligence, and integrity with which the said Sir David Beamish has executed the important duties of his office.
Arrangement of Business — House of Lords, 2017-04-24
Topic: Other
John Taylor (Conservative, Centre-right): My Lords, I wish to make a short Statement on this week’s business, which I hope will be of convenience to the House. It will not have escaped noble Lords’ attention that there were several developments last week. On Tuesday morning, my right honourable friend the Prime Minister announced her intention to invite the House of Commons to agree to an early Dissolution of Parliament to allow for a general election on Thursday 8 June. The other place did so emphatically last Wednesday. Following that decision, in consultation with the usual channels, the Whips’ Office issued a revised Forthcoming Business last Thursday, which included a number of changes to this week’s business to reflect the fact that the end of this Parliament is nigh. I am grateful to the usual channels for their constructive co-operation in this matter In a moment, my noble friend the Leader of the House will invite the House to agree to the Motion, which is a standard feature of what we know as wash-up at the end of a Parliament, to ensure that the remaining business can be considered this week, in the way indicated in Forthcoming Business. The majority of the remaining business will be the consideration of reasons or amendments from the Commons in the normal way, to the timings indicated in Forthcoming Business. This week’s business includes two Bills that are on their way to us from the Commons—the Finance (No. 2) Bill and the Northern Ireland (Ministerial Appointments and Regional Rates) Bill. It is proposed that both Bills go through their substantive stages in this House on Wednesday. It is also proposed that the Third Reading of the Criminal Finances Bill immediately follows the conclusion of its Report stage tomorrow Finally, subject to the progress of the remaining business, we expect to be able to prorogue at the conclusion of this Thursday’s business. I will update the House further as necessary, as the week progresses.
Immigration Act 2016 (Consequential Amendments) (Biometrics and Legal Aid) Regulations 2017 — House of Lords, 2017-04-24
Topic: Mixed Topics
Susan Williams (Conservative, Centre-right): I thank the two noble Lords who have spoken. I say to the noble Lord, Lord Campbell-Savours, that these statutory instruments make consequential amendments to legislation. Legislation is constantly kept under review. As regards widening the scope of the measure, I cannot predict the decisions of a future Government, who may, of course, not be a Conservative Government. However, I am sure that a future Government will consider that measure when keeping legislation under review. At the moment, we have no plans to extend the current practice. Section 141 does not limit the number of digits from which fingerprints may be taken. However, officials who decide to take fingerprints must ensure that their actions are proportionate to the reasons why they are taking them.
Misuse of Drugs Act 1971 (Amendment) Order 2017 — House of Lords, 2017-04-24
Topic: Other
Susan Williams (Conservative, Centre-right): I am most grateful to the noble Earl and the noble Lord for their very constructive comments, and I am very glad to hear that the noble Earl’s son is now in recovery. On his point about a helpline, a number of tools are certainly available to people through websites. I am trying to think of the name of the website—
Air Quality — House of Lords, 2017-04-24
Topic: Other
John Eric Gardiner (Conservative, Centre-right): My Lords, what the noble Lord said is extremely helpful. I have mentioned retrofitting quite a bit during this Question, but that is a point that I would like to take back, and I am most grateful to him.
Digital Economy Bill — House of Lords, 2017-02-08
Topic: Mixed Topics
Ralph Matthew Palmer (Conservative, Centre-right): My Lords, I beg to move Amendment 214. We all know that Ofcom has a great interest in traditional media. As we can see, not least from Clauses 70 and 71, we are happy to give Ofcom a panoptic role when this is required. My amendment is designed to give Ofcom a panoptic role in new media We are all familiar with algorithms, particularly in such contexts as a Google search. It is just a set of rules and procedures that gets us to where we want to go from wherever we happen to be. I do not know of any great harm currently being done by any algorithms, but we ought to be aware of the power these procedures have in our lives. They govern the choice of what people see on the internet. The potential for this to interfere with news flow is obvious. If you type something into Google, it decides what you get to see. In the context of a referendum or an election, the potential for altering the result is clear. It also has an effect when you are just looking round to see what is there. Google has had trouble recently with its response to people typing in "are Jews"; it was autocompleting that with the word "evil". This has now ceased, but it shows what influence algorithms can have in directing people to particular sources of information—in this case, with particularly nasty implications The function of an algorithm is to discriminate, but how are algorithms discriminating? What do we know about what they are doing in terms of fairness, when it comes to race or gender, in the context of job offers, accommodation or access? Referring again—I am sure unfairly—to Google, there was an episode last year when, if you put "three black teenagers" into the Google image search, you got mug shots of prisoners; but if you put in "three white teenagers" you did not. How do we know the effects of these things on our lives? If people start trying to correct them, what effect will these corrections have Most of these algorithms—or at least the big ones—are run by large, dominant, international organisations. Who controls them? We think we have some idea but there is no predictability; there does not seem to be any effective system of governance, least of all by government or institutions. They are a law unto themselves and they will continue to be so, unless something fantastic changes Under these circumstances, we ought to know what is going on. We ought to have the ability to take a look and make sure that it is fair and as we wish it to be, as we do in similar areas of the old media and of life. I hope my amendment will enable Ofcom to do just that. I beg to move.
Digital Economy Bill — House of Lords, 2017-02-08
Topic: Civil Rights
Hazel Byford (Conservative, Centre-right): My Lords, I would like to support my noble friend in his amendment. Algorithms are basically mathematical. The power of computers is used to record, classify, summarise and project actions that indicate what is happening in the world around about us. Algorithms can be applied in particular to social media, which other noble Lords have referred to, and to normal internet usage and browsing. They reach decisions about public interest, about you and about me According to a recent radio programme, algorithms are used to make individual decisions in the fields of employment, housing, health, justice, credit and insurance. I had heard that employers are increasingly studying social media to find out more about job applicants. I had not realised that an algorithm, programmed by an engineer, can, for example, take the decision to bin an application. If that is true, that is absolutely unacceptable. It certainly explains why so many jobseekers do not receive a response of any kind. There is a very real danger that a person could also be refused a mortgage or a better interest rate as the result of an algorithmic decision. Even now some companies use algorithms based on phone numbers to decide whether a caller is high or low value. Highs get to speak to a person: lows are left holding on until they hang up. Algorithm designers refuse to answer any questions, I understand, about the data that are used or their application on grounds of commercial confidentiality. There are real concerns that if we continue to allow such liberties, there will be an increasing risk of discrimination—intentional or accidental—against people of certain races, religions or ages. One example of algorithm use cited in the programme was that of differential pricing by Uber The EU intends that by July 2018 citizens will have the right to an explanation of decisions affected by the workings of these algorithms, such as the online rejection of a bank loan. I do not feel that we should wait until then, and although my noble friend’s amendment might not be perfect, I am really grateful that he has tabled it today and that we are having this worthwhile debate.