Financial Services and Markets Bill

Debate between Earl of Kinnoull and Baroness Penn

Committee stage
Wednesday 1st February 2023 Grand Committee

[Baroness Penn (Con)]

As the noble Lord himself noted, proportionality is already within the regulators’ objectives and operating principles. It is a concept that the Government support in how the regulators undertake their business. I believe that it is provided for within the current framework.

I hope, therefore, that the noble Earl, Lord Kinnoull, will withdraw his amendment and that other noble Lords will not move theirs.

[The Earl of Kinnoull (CB)]

I thank the Minister. It has been a fascinating hour and 20 minutes on reporting requirements. The common themes, I think, have been clarity and independence. I associate myself with the remarks of the noble Lord, Lord Bridges, and his very good way of expressing the problems with the Bill. Coming from the insurance industry, I was of course very worried by what the noble Lord, Lord Ashcombe, had to say about the number of insurers being set up in Bermuda versus the number being set up here. Bermuda overtook the UK in 2004 in size of market; we remain number two but we are going backwards, and this needs to be addressed.

I feel that many of the amendments in this group need to be discussed with the Minister. I hope I will see her nod her head. My amendments derive from a big committee of this House which thought a long time and took a lot of evidence on this. The amendments tabled by the noble Lord, Lord Holmes, have a lot of merit in them as well. When we sit down, we will certainly hear the warnings issued by the noble Baroness, Lady Kramer, in our ears, but I hope that she agrees to discuss those well before Report so that we attain some additional clarity and some independence for the data that comes to whatever it is that will scrutinise all this. In the meantime, I beg leave to withdraw the amendment.

Schools Bill [HL]

Debate between Earl of Kinnoull and Baroness Penn

Committee stage
Wednesday 22nd June 2022 Lords Chamber

[Baroness Penn (Con)]

My Lords, turning first to Amendment 150, I hope I can clarify for the noble Baroness, Lady Brinton, a stop boarding requirement is discretionary but can only be supplemental to any suspension of registration which may be imposed in relation to an independent educational setting. Day students are therefore protected from a risk of harm in the first instance by the suspension of the institution’s registration. The intention of these powers together is that all students in an independent educational institution, both day and boarding where applicable, can be protected more effectively from serious risk from harm.

The noble Baroness asked me a number of specific other questions, which I will do my best to write to her on.

On Amendment 171Z, in the names of the noble Baronesses, Lady Brinton and Lady Grey-Thompson, schools and colleges are already under legal duties to exercise their functions to safeguard and promote the welfare of children. This includes having regard to Keeping Children Safe in Education, statutory guidance which is clear on the role all staff have to play. Children and young people who attend a school or college are afforded protection through these provisions. In all cases where concerns about the welfare of children are identified, Ofsted will pass the information on to the relevant police or local authority to take appropriate action to ensure the safety of children cared for at the registered provider.

As we set out in March 2018, in response to the reporting and acting on child abuse consultation, there was no clear evidence to show that introducing a mandatory reporting duty would help keep children safe, and therefore the case was not made for a mandatory reporting duty. We are keeping this under review, and as noble Lords have referenced, we are awaiting the final report of the Independent Inquiry into Child Sexual Abuse, which is expected this autumn.

The noble Baroness, Lady Wilcox, raised the MacAlister review. I believe we have addressed that in previous groups. The Government will be publishing an implementation plan by the end of year, to consider all of those recommendations.

With that, I hope the noble Baroness, Lady Brinton, will withdraw her amendment.

[The Principal Deputy Chairman of Committees (The Earl of Kinnoull)]

My Lords, the noble Baroness, Lady Brinton, is participating remotely, and I invite her to respond now.

Covid-19: Levelling-up Agenda

Debate between Earl of Kinnoull and Baroness Penn

Thursday 12th November 2020 Lords Chamber

[Baroness Penn (Con)]

My Lords, the Government are absolutely committed to supporting digital trends and jobs. I just mentioned one of the training schemes that we have in place to support that.

[The Deputy Speaker (The Earl of Kinnoull) (Non-Afl)]

My Lords, the time allotted for this Question has now elapsed.

Banks: Authorised Push Payment Fraud

Debate between Earl of Kinnoull and Baroness Penn

Thursday 11th June 2020 Lords Chamber

[Baroness Penn]

The implementation of this is monitored by the regulator, and it will be responsible for ensuring that banks comply with that condition. Should anyone have needed to delay confirmation of payment and suffered fraud as a consequence, they will be fully compensated for it.

[The Deputy Speaker (The Earl of Kinnoull) (Non-Afl)]

My Lords, the time allotted for this Question has now elapsed. We therefore move on to the third Oral Question.