Transitional State Pension Arrangements for Women
Debate between Graham Stringer and Catherine McKinnell(8 years, 9 months ago)
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Catherine McKinnell (Newcastle upon Tyne North) (Lab)
On a point of order, Mr Stringer. You asked us at the start of this debate to do the maths on the time needed to allow all 20 speakers to speak. I did the maths, and it was five to six minutes. The hon. Member for Gloucester (Richard Graham) might be having some difficulty.
Graham Stringer (in the Chair)
That is not a point of order, but the point is well made.
Graham Stringer (in the Chair)
Again, that is not a point of order, but the point is made.
Catherine McKinnell
Further to that point of order, Mr Stringer. Can you guide me on whether you have any control over this issue? My concern is that it is deeply disrespectful to the many women here who are concerned about this subject.
Graham Stringer (in the Chair)
Mr Graham has the floor. He has heard the points, and I intend to impose a time limit when he sits down.
Corporate Economic Crime
Debate between Graham Stringer and Catherine McKinnell(9 years ago)
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Catherine McKinnell
My hon. Friend raises a concern relating to the Bribery Act, but there are two ways of looking at the Act’s implementation and the fact that no prosecutions have yet happened under it. There is evidence that it has already brought about significant changes in corporate culture and that the managers tasked with the responsibility of ensuring that they have taken all the steps they could reasonably be expected to have taken to prevent bribery in their organisations have taken those steps. Some positives can therefore certainly be derived from the situation, but I agree that a very close eye needs to be kept on prosecutions. I note that there are already murmurings from the Government about backtracking on the Bribery Act and trying to weaken that legislation, and we must stay vigilant about that.
On the senior managers regime, the commission recommended that the regime place a burden of proof on those named executives. The recommendation was accepted by the Government and enshrined in the Financial Services (Banking Reform) Act 2013. However, the Bank of England and Financial Services Bill, which is currently in the other place, is set to reverse that burden of proof, meaning that instead, the regulator—the Financial Conduct Authority—will be required to prove that senior managers have failed in their duty to prevent misconduct or prudential failings. The onus will be back on the regulator, and not on the named senior executives. Is that just more backtracking from the Government, who seem to be going soft on economic crime? I would be grateful if the Minister provided reassurance that that is not the case.
Ministers urgently need to look again at their approach to tackling economic crime, because without change, the prospect of ensuring that justice is served to those who have mis-sold financial products, evaded tax, laundered money and defrauded seems as remote as ever, and the risk of the scandals of recent years being repeated has far from disappeared.
Graham Stringer (in the Chair)
I remind the Minister that although he has an unusually large amount of time in which to wind up, under the new procedure, there is time at the end for Stephen Pound, the proposer of the debate, to sum up.