Joined House of Lords: 10th April 2014
Left House: 29th April 2026 (Excluded)
Speeches made during Parliamentary debates are recorded in Hansard. For ease of browsing we have grouped debates into individual, departmental and legislative categories.
These initiatives were driven by Lord Cromwell, and are more likely to reflect personal policy preferences.
Lord Cromwell has not introduced any legislation before Parliament
Lord Cromwell has not co-sponsored any Bills in the current parliamentary sitting
No such assessments have been made, but this government is committed to increasing awareness of/access to 'green' friendly schemes.
The original bidding process for suppliers to deliver the UK Emergency Alert system was handled by the Mobile Network Operators (MNOs) during 2020 and 2021. Therefore the UK Government was not privy to the number of bids each of the MNOs received.
For the contract publicly listed on Contract Finder[1] signed by Government Digital Service, two bids were received and Fujitsu was the winning bidder.
[1] https://www.contractsfinder.service.gov.uk/notice/6e9669c8-6908-47ff-bac6-d83f8670403b?origin=SearchResults&p=1
The Government does not hold data on the average monetary or environmental cost of producing and installing an electricity pylon. Such assessments are undertaken by the relevant planning applicant and considered as part of the decision-making process by the Secretary of State. A wide range of context specific, qualitative and quantitative factors determine said value.
The environmental impact of proposed pylon developments is assessed on a scheme-by-scheme basis with the method, content and scope of assessment dependent on the likely significance of the proposed scheme’s environmental impact based on its size, nature, location and the relevant legislative and policy frameworks.
The Government remains committed to implementing the remaining provisions of the Product Security and Telecommunications Infrastructure Act 2022 as soon as possible.
The remaining provisions, including section 70, are complex and technical and their implementation requires careful consideration. My Department is considering options and will engage with stakeholders as part of this process. We will confirm timelines for the implementation of the remaining sections in due course.
The Government wants Code agreements to be negotiated collaboratively. To that end, the 2022 Act introduced a requirement for operators to inform landowners of the availability of alternative dispute resolution and to consider using it before issuing legal proceedings.
The Government remains committed to implementing the remaining provisions of the Product Security and Telecommunications Infrastructure Act 2022 as soon as possible.
The remaining provisions, including section 70, are complex and technical and their implementation requires careful consideration. My Department is considering options and will engage with stakeholders as part of this process. We will confirm timelines for the implementation of the remaining sections in due course.
The Government wants Code agreements to be negotiated collaboratively. To that end, the 2022 Act introduced a requirement for operators to inform landowners of the availability of alternative dispute resolution and to consider using it before issuing legal proceedings.
The Government remains committed to implementing the remaining provisions of the Product Security and Telecommunications Infrastructure Act 2022 as soon as possible.
The remaining provisions, including section 70, are complex and technical and their implementation requires careful consideration. My Department is considering options and will engage with stakeholders as part of this process. We will confirm timelines for the implementation of the remaining sections in due course.
The Government wants Code agreements to be negotiated collaboratively. To that end, the 2022 Act introduced a requirement for operators to inform landowners of the availability of alternative dispute resolution and to consider using it before issuing legal proceedings.
The Government, working with Ofcom, closely monitors the financial health of the telecoms market. Ofcom have powers to request financial information from providers where appropriate.
We recently held a public consultation on proposed updates to the Telecommunications Security Code of Practice, which provides guidance on how public telecoms providers can meet their statutory requirements to secure their networks and services. These include requirements relating to reviews, governance and board responsibilities. Ofcom monitor and enforce these requirements.
In response to the consultation, the Chartered Institute of Internal Auditors raised the matter of independent assurance arrangements. We are now carefully reviewing all feedback to the consultation to ensure that any updates to the Code of Practice are appropriate and proportionate.
The Government, working with Ofcom, closely monitors the financial health of the telecoms market. Ofcom have powers to request financial information from providers where appropriate.
We recently held a public consultation on proposed updates to the Telecommunications Security Code of Practice, which provides guidance on how public telecoms providers can meet their statutory requirements to secure their networks and services. These include requirements relating to reviews, governance and board responsibilities. Ofcom monitor and enforce these requirements.
In response to the consultation, the Chartered Institute of Internal Auditors raised the matter of independent assurance arrangements. We are now carefully reviewing all feedback to the consultation to ensure that any updates to the Code of Practice are appropriate and proportionate.
Space sustainability activity aims to maintain the space environment, which benefits the UK through continued freedom of access to space services and the environmental and economic benefits space applications provide. The Government is taking forward the actions set out in the Plan for Space Sustainability launched last year. The Government has developed a national satellite monitoring service, is working with industry and academia on an industry-led Space Sustainability Standards initiative, and hosted ministerial roundtables to further our sustainability aims. The Government has also secured funding of both national and ESA Active Debris Removal programmes, which will demonstrate our world leading capabilities, positioning the UK at the forefront of the emerging life extension and debris removal markets.
Space sustainability activity aims to maintain the space environment, which benefits the UK through continued freedom of access to space services and the environmental and economic benefits space applications provide. The Government is taking forward the actions set out in the Plan for Space Sustainability launched last year. The Government has developed a national satellite monitoring service, is working with industry and academia on an industry-led Space Sustainability Standards initiative, and hosted ministerial roundtables to further our sustainability aims. The Government has also secured funding of both national and ESA Active Debris Removal programmes, which will demonstrate our world leading capabilities, positioning the UK at the forefront of the emerging life extension and debris removal markets.
The National Space Strategy sets out an ambitious vision for the future of the UK as a space nation, and to make the UK one of the most attractive countries for space businesses of all sizes to grow and thrive.
The strategy describes high level structures and frameworks to guide its implementation, and Government has now committed to developing a joint civil-defence Space Sector Plan in 2023 building on the National Space Strategy, the Defence Space Strategy, and the Defence and Security Industrial Strategy. The publication will communicate where and how Government will work to strengthen and mature its relationship with the space sector across the UK, and will prioritise interventions across government to help facilitate the sector’s growth and resilience. The publication will also increase future planning confidence in the sector by providing a clear demand signal for Government’s strategic capability needs from space, and intentions for pursuing them.
The Government is taking action to deliver on the Plan for Space Sustainability announced last year to help ensure a safe, secure, and sustainable space environment. This includes plans for regulatory reform, supporting the development of an industry-led Space Sustainability Mark, and building sustainable capabilities in the UK including Active Debris Removal and In-Orbit Servicing and Manufacturing missions. The Government engages extensively in international and scientific fora such as the United Nations Committee on the Peaceful Uses of Outer Space, and the Inter-Agency Space Debris Coordination Committee to tackle the issue of the increasingly contested and congested space environment.
The Government confirmed in November 2016 that the UK will proceed with preparations to ratify the Unified Patent Court Agreement. Those preparations are progressing. No decision has been taken on our future involvement in the court once we have left the EU. That will be part of the negotiations which have not yet begun. It would be wrong to set out unilateral positions in advance but the Government’s efforts will be focussed on seeking the best deal possible in the negotiations with our European partners.
The UK's future relationship with the European Union Intellectual Property Office is a matter for negotiations with the EU. It would be inappropriate to set out unilateral positions in advance.
Officials in the Intellectual Property Office, the Department for Business, Energy and Industrial Strategy and the Department for Exiting the European Union are considering the options available to us with the aim of achieving the best outcome for UK right holders and the UK as a whole.
Meanwhile, UK businesses will continue to be able to apply to the European Union Intellectual Property Office for EU Trade Marks and Registered Community Designs covering the member states of the EU.
The Government is committed to ensuring that the UK remains open for business and continues to grow and thrive. Ensuring our new relationship with the EU works for employees and employers will be important in the months ahead
As my Rt hon Friend the Prime Minister has said, there will be no immediate changes as a result of the EU referendum, including in the circumstances of non-UK EU citizens working in the UK. The Government is committed to ensuring that the UK remains open for business and continues to grow and thrive. Ensuring our new relationship with the EU works for employees and employers will be important in the months ahead.
The main streams of funds available to UK universities and research bodies are Horizon 2020, Erasmus Plus and aspects of the European Structural and Investment Funds.
Under Horizon 2020, the current Framework Programme, the UK has been awarded €1.84bn to date[1] (excluding the Euratom nuclear research and training programme).
In 2014, the first year of the Erasmus Plus Programme, the UK obtained €79.08 million for mobility grants to 36,734 people from all educational sectors to study, train and volunteer abroad. A further €30.66m was obtained for cooperation projects[2].
The UK’s strategy[3] for its 2014-2020 allocations from the European Structural and Investment Funds sets out that €1.6bn was earmarked for the theme of research, technological development and innovation.
As the Prime Minister has made clear, while the UK remains a member of the EU, current EU funding arrangements continue unchanged, including those that apply to students, researchers, and businesses. It will be for the Government under the new Prime Minister to begin the negotiation to leave, and set out arrangements for those currently in receipt of EU funds.
The UK economy is fundamentally strong and our research and innovation are world leading. The Government intends to maintain and enhance the strength of our research base.
UK participation in H2020 and FP7, BIS occasional (https://www.gov.uk/government/publications/uk-participation-in-horizon-2020-and-framework-programme-7)
Ref: https://www.britishcouncil.org/organisation/press/british-council-ecorys-uk-delighted-win-erasmus.
On 12 February the Government published its Initial Consultation Response to the Online Harms White Paper. This sets out our direction of travel on a number of key areas, including that we are minded to appoint Ofcom as the regulator for online harms, and more detail on the proposed approach of the regulator. The response also confirmed that a media literacy strategy will be published in Summer 2020 and aim to support citizens in thinking critically about the things they come across online. More detailed proposals on online harms regulation will be released in the spring.
The Government has also established the Defending Democracy programme to bring together expertise and ongoing work on protecting democratic processes from different departments. This programme, led by the Cabinet Office, has been set up to:
protect and secure UK democratic processes, systems and institutions from interference, including from cyber, personnel and physical threats;
strengthen the integrity of UK elections;
encourage respect for open, fair and safe democratic participation; and
promote fact-based and open discourse, including online.
As part of this work, we engage regularly with social media companies to understand the actions they are taking to prevent misuse of their platforms.
DCMS is leading a review focused on identifying the current and future advanced and specialist digital skills gaps in the UK’s digital technology sector and wider economy. This work will give DCMS a greater understanding of the characteristics of the existing advanced and digital specialist workforce in the UK, current and future advanced and specialist digital skills needs in the UK, and will inform how to focus efforts on developing the UK digital skills pipeline. We anticipate the review will be completed by summer 2017.
We seek to guarantee the rights of EU citizens who are already living in Britain, and the rights of British nationals in other member states as early as we can. This remains an early priority for the forthcoming negotiations. We will control immigration so that we continue to attract the brightest and the best to work or study in Britain, but manage the process properly so that our immigration system serves the national interest. As part of that it is important that we understand the impacts of different options on different sectors of the economy and the labour market. We are taking action across the entire education and training pipeline to ensure we have the digital skills to maintain our world leading digital economy.
The Government may step in and clear waste in exceptional circumstances to protect the public and the environment. However, as with any other type of crime the Government cannot and should not fund a general clean-up service for criminals at the expense of the taxpayer. We do however acknowledge that this approach can sometimes leave waste in situ for long periods of time.
The Government is committed to tackling waste crime and continues to keep under review how best to do this.
It is a long-established policy that landowners are responsible for clearing dumped or abandoned waste from their land.
We continue to work with stakeholders, such as the National Farmers Union (NFU) and local authorities, through the National Fly-Tipping Prevention Group to share good practice, including how to prevent fly-tipping on private land. The Environment Agency also conducts communications campaigns around tackling and preventing waste crime, including working through landowner associations such as the NFU or The Country Land and Business Association.
We recognise the financial burden that clearing fly-tipped waste places on landowners. However, central Government generally does not compensate victims of non-violent crime. It is important not to create a perverse incentive for some people to dump, or facilitate the dumping of, waste. However, where there is sufficient evidence, fly-tippers can be prosecuted and, on conviction, a cost order can be made by the court so that a landowner’s costs can be recovered from the perpetrator.
Section 89 of the Environmental Protection Act 1990 imposes duties on local authorities to ensure that certain land is, so far as is practicable, kept clear of litter and refuse. The Code of Practice on Litter and Refuse (see attached) provides guidance on discharging these duties. It does not specify the distance from the highway for which it is the responsibility of the local authority to clear fly-tipping.
Local authorities are responsible for most trunk roads and other, more minor roads. National Highways is responsible for motorways and certain trunk roads. Landowners are responsible for the land that they own. We encourage local authorities to investigate all incidents of fly-tipping, including those on private land. The Environment Agency may investigate waste that has the potential to damage the environment, such as hazardous waste.
We recently published a Pride in Place Strategy in which we committed to bringing forward statutory enforcement guidance on littering and modernising the code of practice on Litter and Refuse that outlines the cleaning standards expected of local authorities.
Section 89 of the Environmental Protection Act 1990 imposes duties on local authorities to ensure that certain land is, so far as is practicable, kept clear of litter and refuse. The Code of Practice on Litter and Refuse provides guidance on discharging these duties. This is available at: https://www.gov.uk/government/publications/code-of-practice-on-litter-and-refuse (attached).
Landowners are responsible for clearing waste from land that they own.
There is no plan to make an assessment of the responsibilities of local authorities in relation to clearing up fly-tipping that takes place on a private land more than 10 metres from the highway.
Landowners are responsible for clearing waste from land that they own.
The uplands are nationally and internationally important for biodiversity, and have significant agricultural, landscape, archaeological, recreational, cultural and natural resource value. We recognise the unique challenges that upland farmers face. In order to ensure we are giving farmers in the uplands the right support, we are engaging with a wide range of bodies through our Uplands Task and Finish Group. The group is looking at the particular challenges in the uplands and how they can be addressed.
More than 50,000 farm businesses and more than half of all farmed land is now being managed in Environmental Land Management (ELM) schemes, including over 38,000 multi-year live SFI agreements covering 4.3 million hectares of land. This means 800,000 hectares of arable land is being farmed without insecticides, reducing harm to pollinators and improving soil health. It means 300,000 hectares of low input grassland are managed sustainably, helping to protect biodiversity and improve water quality, and it means 75,000 kilometres of hedgerows are being protected and restored, providing essential habitats for wildlife, improving carbon storage and strengthening natural flood defences.
The Government is committed to ELM schemes. Defra will be working closely with farmers and industry stakeholders to design a future SFI offer that fairly and responsibly directs funding. This future SFI offer will build on what has made SFI effective so far. Further details about the reformed SFI offer will be announced following the spending review in summer 2025.
Reductions to delinked payments allowed this Government to unlock a record level of funding for Environmental Land Management schemes, as part of the £5 billion for farming secured over 24/25 and 25/26 financial years.
In line with its obligations under the Agriculture Act 2020, Defra regularly publishes an annual report, setting out commitments in the previous financial year. Defra intends to publish the annual report for the financial year 2024/25 later this year. The annual report for financial year 2025/26 will be published next year and will include Farming and Countryside programme spend broken down by each scheme.
When delinked payments were introduced in 2024, no decision had been made about the reductions that were to apply to these payments for years after 2024.
We estimate that the reductions to be applied to delinked payments for 2025 will lead to a further £550 million reduction in these payments compared to 2024. This money is being re-invested in full into our other schemes for farmers and land managers in England, within an overall farming budget of £2.4 billion for 2025/26.
The reductions to delinked payments for future years have not been decided yet and will be announced in due course.
We will provide further details about the reformed Sustainable Farming Incentive in summer 2025.
We know farmers require stability in order to make long-term plans. We said we would provide stability for farmers and we are delivering on this commitment. We have confirmed that the first Sustainable Farming Incentive agreements of the 2024 offer are now live. We will confirm plans for rollout of schemes and our wider approach as soon as possible.
The Government is fully committed to Environmental Land Management (ELM) schemes, which it will optimise in an orderly way, over time. We will work with the sector to make sure schemes produce the right outcomes for all farmers, including small, grassland, upland and tenanted farms, supporting food security and nature’s recovery in a just and equitable way. Spending on farming in future financial years will be confirmed as part of the Government’s spending review.
This Government is fully committed to Environmental Land Management (ELM) schemes, including the Sustainable Farming Incentive (SFI). Record numbers of farmers are now in an ELM scheme, and the Government wants to maintain the momentum built over recent months.
The Government will optimise ELM schemes such as the SFI in an orderly way, over time. The Government will work with the sector to make sure schemes produce the right outcomes for all farmers, including small, grassland, upland and tenanted farms, supporting food security and nature’s recovery in a just and equitable way.
The Government is supporting farmers and land managers through a range of grants and schemes beside ELM, designed to support a resilient and healthy food system that works with nature and supports British Farmers. These grants are set out on Defra’s “Funding for Farmers” webpage.
In the past 12 months, no notices in relation to ragwort control have been served to National Highways, and there have been no prosecutions under the Weeds Act 1959 or the Code of Practice.
The Department does not hold data on notices or prosecutions relating to ragwort control by local highway authorities.
High blood pressure is a significant risk factor for developing heart valve disease. Early detection of high blood pressure in patients supports prevention of heart valve disease. That is why pharmacies in England can provide the NHS Hypertension Case-Finding Service (HCFS), under which eligible patients can have their blood pressure checked for free in a community pharmacy. The HCFS aims to identify patients with high blood pressure so that they can be referred to their general practice for treatment.
As set out in the 10-Year Health Plan, to accelerate progress on the ambition to reduce premature deaths from heart disease and stroke by 25% within a decade, we will publish a new Cardiovascular Disease Modern Service Framework in spring.
The framework will prioritise ambitious, evidence-led, and clinically informed approaches to prevention, treatment, and care, and as part of its development we are engaging widely to identify and consider the role of community pharmacies across the cardiovascular disease pathway.
The Government agrees with the importance of assessing new technologies such as artificial intelligence (AI) stethoscopes to see how they can improve the diagnoses of heart conditions. This has been supported though, two trials related to AI stethoscopes and diagnosis which have been undertaken in England, funded by the National Institute for Health and Care Research.
The International Criminal Court (ICC) has issued warrants of arrest for Putin and Maria Lvova-Belova for crimes linked to the deportation of children. It is an independent court and carries out its investigations impartially and without government interference. We are supporting the work of the Office of the Prosecutor General of Ukraine and the ICC to ensure allegations of war crimes in Ukraine are fully and fairly investigated by independent and robust legal mechanisms. We welcome progress made by the ICC in its active investigation, including the arrest warrants for individuals connected to the forced deportation of Ukrainian children.
We have raised this issue with Russia on multiple occasions at the Organization for Security and Co-operation in Europe (OSCE), which meets at ambassador-level almost every week. On 29 May, our Ambassador reiterated the need for Russia to return forcibly deported children as critical to achieving a just and lasting peace. We have supported multiple invocations of the OSCE's fact-finding mission, the Moscow Mechanism, to examine Russian human rights abuses in Ukraine. Their May 2023 report focused on Ukrainian children. We have also raised this issue with Russia at the UN Security Council, most recently on 15 May and 8 April.
Russia's forcible deportation of Ukrainian children is a despicable and systematic attempt to erase Ukrainian identity, and with it, Ukraine's future. We are playing our full part in international efforts to reunite these children with their families. In November 2024, we announced a third round of sanctions targeting those involved in forcibly deporting and indoctrinating Ukrainian children. We do not comment on any potential future designations as to do so could lessen their impact.
The Foreign, Commonwealth and Development Office (FCDO) has a £2m agreement with The Halo Trust under the Global Mine Action Programme to undertake mine action activities, including clearance, in Ukraine. The FCDO is also providing demining equipment and training to the State Emergency Services (SES) as part of its £14.5m contribution to the multi-donor Partnership Fund for Resilient Ukraine, and providing £0.6m to the UNDP to help sector coordination. The Ukrainian national mine action authority is responsible for mine clearance tasking, including for critical infrastructure, and can use either national operators like SES or accredited international organisations like the Halo Trust.
Through the Ukraine Electricity Network Support Taskforce, the Department for Business, Energy and Industrial Strategy has funded the procurement for Ukraine of 856 mobile generators of various models. These have all been delivered to Ukraine, where they are being used to provide power to homes disconnected from the electricity grid. The Prime Minister recently announced £4 million for the International Organisation for Migration in Ukraine. This new support includes the provision of generators for households and collective centres. The UK has also committed £10 million to the Energy Community's Ukraine Energy Support Fund. Since March 2022, the Energy Community has been coordinating business-to-business donations of specialised equipment for repairs, including generators and replacements for damaged infrastructure.
On Monday 16 March, the Government published a response to its consultation on reforming the Financial Ombudsman Service (FOS), confirming that the government will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the Financial Conduct Authority (FCA).
The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the FCA and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this had led to the FOS acting as a quasi-regulator. The Government’s reforms will ensure that FOS determinations are fully aligned with the regulatory standards set by the FCA.
The Government will bring forward legislation to deliver the reforms when parliamentary time allows. Alongside the Government’s response, the FCA and the FOS published a paper seeking views on a number of changes they can make in advance of legislation, including updates to the fair and reasonable test and initial implementation of the new referral mechanism.
The reforms will improve cooperation between the FOS and the FCA, including through introducing a referral mechanism, which will require the FOS to seek a view from the FCA where the FOS considers there may be ambiguity in what FCA rules require, or where it considers an issue raised may have wider implications across the financial services industry, which the FCA will be required to respond to. The FOS and the FCA have implemented an initial version of this mechanism through their updated Memorandum of Understanding.
The reforms will also require the FCA and the FOS to publish regular thematic reports, which will explain the FOS’s approach to types of complaints that it receives. This will provide greater certainty on the approach used by the FOS to resolve disputes, and which demonstrates how that approach is aligned with the regulatory standards set by the FCA. In their joint paper, the FOS and the FCA set out that they will work with the Government to consider how greater clarity could be provided ahead of any legislative change.
On Monday 16 March, the Government published a response to its consultation on reforming the Financial Ombudsman Service (FOS), confirming that the government will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the Financial Conduct Authority (FCA).
The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the FCA and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this had led to the FOS acting as a quasi-regulator. The Government’s reforms will ensure that FOS determinations are fully aligned with the regulatory standards set by the FCA.
The Government will bring forward legislation to deliver the reforms when parliamentary time allows. Alongside the Government’s response, the FCA and the FOS published a paper seeking views on a number of changes they can make in advance of legislation, including updates to the fair and reasonable test and initial implementation of the new referral mechanism.
The reforms will improve cooperation between the FOS and the FCA, including through introducing a referral mechanism, which will require the FOS to seek a view from the FCA where the FOS considers there may be ambiguity in what FCA rules require, or where it considers an issue raised may have wider implications across the financial services industry, which the FCA will be required to respond to. The FOS and the FCA have implemented an initial version of this mechanism through their updated Memorandum of Understanding.
The reforms will also require the FCA and the FOS to publish regular thematic reports, which will explain the FOS’s approach to types of complaints that it receives. This will provide greater certainty on the approach used by the FOS to resolve disputes, and which demonstrates how that approach is aligned with the regulatory standards set by the FCA. In their joint paper, the FOS and the FCA set out that they will work with the Government to consider how greater clarity could be provided ahead of any legislative change.
On Monday 16 March, the Government published a response to its consultation on reforming the Financial Ombudsman Service (FOS), confirming that the government will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the Financial Conduct Authority (FCA).
The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the FCA and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this had led to the FOS acting as a quasi-regulator. The Government’s reforms will ensure that FOS determinations are fully aligned with the regulatory standards set by the FCA.
The Government will bring forward legislation to deliver the reforms when parliamentary time allows. Alongside the Government’s response, the FCA and the FOS published a paper seeking views on a number of changes they can make in advance of legislation, including updates to the fair and reasonable test and initial implementation of the new referral mechanism.
The reforms will improve cooperation between the FOS and the FCA, including through introducing a referral mechanism, which will require the FOS to seek a view from the FCA where the FOS considers there may be ambiguity in what FCA rules require, or where it considers an issue raised may have wider implications across the financial services industry, which the FCA will be required to respond to. The FOS and the FCA have implemented an initial version of this mechanism through their updated Memorandum of Understanding.
The reforms will also require the FCA and the FOS to publish regular thematic reports, which will explain the FOS’s approach to types of complaints that it receives. This will provide greater certainty on the approach used by the FOS to resolve disputes, and which demonstrates how that approach is aligned with the regulatory standards set by the FCA. In their joint paper, the FOS and the FCA set out that they will work with the Government to consider how greater clarity could be provided ahead of any legislative change.
The Government recently carried out a review of the Financial Ombudsman Service (FOS), and consulted on proposed changes to the statutory framework in which it operates. On 16 March, the Government published a response to its consultation on reforming the FOS, confirming it will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the FCA.
The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the Financial Conduct Authority (FCA) and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this led to the FOS acting as a quasi-regulator.
The Government’s reforms will amend the ‘Fair and Reasonable’ test to require that, where firms have met their obligations under relevant FCA Rules, the FOS will be required to find that a firm has acted fairly and reasonably. They will also make clear that the FOS can only consider rules that were in force at the time of the act or omission giving rise to a complaint. These reforms require primary legislation, which the government will take forward when Parliamentary time allows.
Alongside the Government’s planned legislative changes, the FCA and FOS are currently consulting on changes to the Dispute Resolution (DISP) rules in the FCA’s Handbook, which also proposes changes to address industry concerns about the potential for retrospective interpretation of FCA rules and standards.
All FCA authorised firms are subject to the same core regulatory requirements. The FCA communicates to firms, for example through their “Approach to Supervision” publication, that different business models including investment platforms and SIPP providers create different risk and therefore there are different expectations of the firms. The FCA expects firms to understand these risks and mitigate against them. Where appropriate, the FCA will clarify their expectations of different firms. Firms must also meet additional requirements, either rules or guidance, set out by the FCA depending on the specific regulated activities and permissions a firm undertakes and holds.
The Government recently carried out a review of the Financial Ombudsman Service (FOS), and consulted on proposed changes to the statutory framework in which it operates. On 16 March, the Government published a response to its consultation on reforming the FOS, confirming it will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the FCA.
The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the Financial Conduct Authority (FCA) and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this led to the FOS acting as a quasi-regulator.
The Government’s reforms will amend the ‘Fair and Reasonable’ test to require that, where firms have met their obligations under relevant FCA Rules, the FOS will be required to find that a firm has acted fairly and reasonably. They will also make clear that the FOS can only consider rules that were in force at the time of the act or omission giving rise to a complaint. These reforms require primary legislation, which the government will take forward when Parliamentary time allows.
Alongside the Government’s planned legislative changes, the FCA and FOS are currently consulting on changes to the Dispute Resolution (DISP) rules in the FCA’s Handbook, which also proposes changes to address industry concerns about the potential for retrospective interpretation of FCA rules and standards.
All FCA authorised firms are subject to the same core regulatory requirements. The FCA communicates to firms, for example through their “Approach to Supervision” publication, that different business models including investment platforms and SIPP providers create different risk and therefore there are different expectations of the firms. The FCA expects firms to understand these risks and mitigate against them. Where appropriate, the FCA will clarify their expectations of different firms. Firms must also meet additional requirements, either rules or guidance, set out by the FCA depending on the specific regulated activities and permissions a firm undertakes and holds.
At Autumn Statement 2023, the Government announced its intention to permit certain fractional shares contracts to be eligible ISA investments. This requires a change to the ISA Regulations and ISA manager’s guidance to define those eligible investments for ISA purposes.
Government has considered the Financial Conduct Authority’s initial position towards fractional shares, the position of the small number of firms offering them, and the view of the wider market.
Further information will be available in due course.