Financial Services: Regulation Debate
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Lord Bishop of Southwark
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Financial Services: Regulation
Lord Bishop of Southwark Excerpts(7 years, 3 months ago)
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Lord Bates
Those major banks, of course, are covered by the Prudential Regulation Authority, through the Bank, but the FCA has a prudential role as well as its regulatory role. As I mentioned, it is important that we recognise that where regulations apply it is done in a proportionate and appropriate way for consumers and also for the businesses that are being dealt with.
The Lord Bishop of Southwark
My Lords, when do Her Majesty’s Government intend to implement in full the principal recommendations of the Parliamentary Commission on Banking Standards, published in June 2013?
Lord Bates
I do not have an answer for that, but I am very happy to write to the right reverend Prelate.