All 1 Debates between Baroness Penn and Lord Reay

Share Page

British Banking Sector

Debate between Baroness Penn and Lord Reay
Tuesday 21st March 2023

(1 year, 1 month ago)

Lords Chamber
Share Debate
Read Full debate Read Hansard Text Read Debate Ministerial Extracts
Lord Reay Portrait Lord Reay (Con)
- View Speech - Hansard -
- - Excerpts

My Lords, is my noble friend the Minister confident that the risk controls at the UK fintechs are adequate, given the current challenging conditions in the global financial markets?

Baroness Penn Portrait Baroness Penn (Con)
- View Speech - Hansard -
-

My Lords, one thing that UK regulators have sought to do is ensure that the fintech sector is well regulated while continuing to innovate. We have been able to use things such as regulatory sandboxes to allow safe spaces for that innovation to be tested out, and we will continue to take that approach.

Return to start of debate - Return to top of page