Debates between Baroness Kingsmill and Lord Foulkes of Cumnock during the 2017-2019 Parliament

Wed 6th Feb 2019

Financial Services (Implementation of Legislation) Bill [HL]

Debate between Baroness Kingsmill and Lord Foulkes of Cumnock
Lord Foulkes of Cumnock Portrait Lord Foulkes of Cumnock (Lab Co-op)
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My Lords, before the Minister answers those questions, may I ask one of my own in relation to the report of the Delegated Powers and Regulatory Reform Committee? Will the Minister tell the House whether and how the recommendations in paragraphs 8, 16 and 19 of that report have been dealt with?

Baroness Kingsmill Portrait Baroness Kingsmill (Lab)
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My Lords, before the Minister responds, will he give me some assurances about how these regulations and this legislation, when it becomes legislation, are going to have any particular impact on online financial institutions? I think that they are the ones where the future is going to lie. I declare an interest as a former chairman of Monzo, an online bank. It is important that the Minister gives some reassurance about the particular impact that this could have on a completely different form of financial institution.