Money Laundering: UK Parliamentarians

Lord Levene of Portsoken Excerpts

Tuesday 14th October 2014 Lords Chamber

[Lord Levene of Portsoken (CB)]

My Lords—

[The Lord Privy Seal (Baroness Stowell of Beeston) (Con)]

My Lords, if we can be brief we will hear from the Cross Benches and then from the Liberal Democrats.

[Lord Levene of Portsoken]

My Lords, the Minister started his remarks by saying that those of us in this House should have little to worry about. I have to say, from personal experience of having an account in France to look after the small needs of the home that I own there, that one is treated as if it were the Spanish Inquisition. They really do not want to know any differently. Can the Minister give an assurance to the House that he will convey to his colleagues in Europe that these rules are meant to be applied reasonably and not draconically?

[Lord Deighton]

I can confirm that that will be precisely the message in the final negotiations on the fourth money laundering directive.