Question

To ask His Majesty's Government, following the Financial Ombudsman Service decision of September in relation to MoneySuperMarket, what is the policy position of (1) the Office for Equality and Opportunity and (2) the Equality and Human Rights Commission on whether (a) gender identity and (b) non-binary status are protected characteristics under the Equality Act 2010.

Answered by Lord Collins of Highbury - Lord in Waiting (HM Household) (Whip)

The Equality Act 2010 (‘the Act’) provides protection against discrimination, harassment and victimisation based on the following protected characteristics: age, disability, gender reassignment, marriage or civil partnership, pregnancy and maternity, race, religion or belief, sex, and sexual orientation. The Government is proud of the Act and the rights and protections it affords, and we are committed to upholding this important piece of legislation. The Equality and Human Rights Commission is independent of the Government, therefore, we cannot speak on its behalf.

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the effect of the Financial Conduct Authority and Prudential Regulation Authority's proposals on mandatory equality reporting on the competitiveness of financial services companies operating in the United Kingdom.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

The government has no plans to reform the Financial Conduct Authority (FCA), but it is committed to working with the FCA to ensure that it is supporting the government’s growth mission. Effective, proportionate regulation is key to a thriving UK economy and delivering the government’s mission to drive the inclusive growth and international competitiveness of the UK’s financial services sector.

The FCA and Prudential Regulation Authority (PRA) are non-governmental bodies which are independent from the Treasury and have broad powers to make rules in order to advance their statutory objectives. The regulators are required by legislation to carry out their general functions, which include rule-making, in a way that advances their competitiveness and growth objectives.

In line with statutory requirements, the FCA and PRA have included in their consultations an explanation of the compatibility of the proposed rules with their duties, including consideration of the competitiveness and growth objectives.

Question to the HM Treasury:

To ask His Majesty's Government, further to the Written Answer by Lord Livermore on 20 September (HL1065), what plans they have, if any, to reform the Financial Conduct Authority to help make the City of London more competitive.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

The government has no plans to reform the Financial Conduct Authority (FCA), but it is committed to working with the FCA to ensure that it is supporting the government’s growth mission. Effective, proportionate regulation is key to a thriving UK economy and delivering the government’s mission to drive the inclusive growth and international competitiveness of the UK’s financial services sector.

The FCA and Prudential Regulation Authority (PRA) are non-governmental bodies which are independent from the Treasury and have broad powers to make rules in order to advance their statutory objectives. The regulators are required by legislation to carry out their general functions, which include rule-making, in a way that advances their competitiveness and growth objectives.

In line with statutory requirements, the FCA and PRA have included in their consultations an explanation of the compatibility of the proposed rules with their duties, including consideration of the competitiveness and growth objectives.

Question to the HM Treasury:

To ask His Majesty's Government whether (1) the Bank of England, (2) the Financial Conduct Authority and (3) the Financial Ombudsman Service receive advice from, or participate in, programmes overseen by Stonewall.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

This is a matter for the Bank of England, Financial Conduct Authority (FCA), and Financial Ombudsman Service (FOS) which are independent, non-governmental bodies.

The Bank of England, FCA and FOS will each respond to the Noble Lord by letter, and a copy of these letters will be placed in the Library of the House of Lords.

Found: Morse (Chair) Baroness Blake of Leeds Baroness Buscombe Earl of Courtown Baroness Goudie Lord Reay

Found: Morse (Chair) Baroness Buscombe Earl of Courtown Baroness Goudie Lord Kennedy of Southwark Lord Reay

Found: sincerely t hank my supporters, the noble baroness, Lady Manningham- Buller, and my noble friend Lord Reay