"That was a hint to rise. I will speak to my Amendment 52, but I must first apologise to the Committee that I was unable to speak at Second Reading, my scrutiny hours having been occupied in the passage of another Bill, which also accounts for why this was rather …..." Baroness Bowles of Berkhamsted - View Speech
"My Lords, this amendment is about insurance-linked securities—ILS—which are the UK’s version of fully funded risk transfer vehicles, which were legislated for in 2017. They include catastrophe bonds, collateralised reinsurance, sidecars and other fully funded mechanisms used by insurers to transfer peak and speciality risks to the capital markets. Catastrophe …..." Baroness Bowles of Berkhamsted - View Speech
"My Lords, I thank all those who have spoken in the debate. I must say that I find the Minister’s response rather disappointing. He is saying that the status quo is all right, but the status quo is not all right, so we will not have the business. I think …..." Baroness Bowles of Berkhamsted - View Speech
"My Lords, my amendment proposes that the Treasury makes litigation funding a regulated activity, with a list of matters that I propose should be covered in the amendment.
Litigation funding has come into the spotlight for several reasons. There was the 2023 PACCAR decision, which held that litigation funding agreements …..." Baroness Bowles of Berkhamsted - View Speech
"My Lords, I thank the noble Lord, Lord Carlile, and the Minister for their comments in this debate. The noble Lord, Lord Carlile, may be interested to know that I am a victim of the PBO too. The reason that “Treasury” appears where I put “Lord Chancellor” is down to …..." Baroness Bowles of Berkhamsted - View Speech
"My Lords, building societies occupy a unique place in the United Kingdom’s financial system. Unlike banks, they are not owned by external shareholders; they are owned by their members. That distinction is fundamental. It means that the legitimacy of a building society rests not only upon prudent management and financial …..." Baroness Bowles of Berkhamsted - View Speech
"My Lords, I support these amendments. They almost follow naturally from the debate that we had earlier about the need for a structurally competent wholesale function within the FCA. It is clear that you cannot produce a credible cost-benefit analysis without a credible evaluation capability. The PRA has understood that …..." Baroness Bowles of Berkhamsted - View Speech