Baroness Kramer
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Baroness Kramer Excerpts(1 year, 4 months ago)
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Lord Sharpe of Epsom (Con)
The noble Lord makes a number of fairly grave and unfounded allegations. The relevant experts in the NECC have been assessing the extensive material provided; he knows how extensive it was. The NECC has extended its review as new material has been supplied, but, recognising the complexity of fraud cases, I hope that all noble Lords will understand the length of time that this has taken. As I say, the NECC is in the process of notifying the complainants at the moment.
Baroness Kramer (LD)
My Lords, does the Minister recognise that both the regulators and the enforcement agencies are seriously underresourced in tackling wrongdoing in the financial services sector? Will he support our proposals to distribute the fines from financial services-related prosecutions to the regulators and agencies in order to beef up their capacity?