Lord Rooker
Main Page: Lord Rooker (Labour - Life peer)Department Debates - View all Lord Rooker's debates with the HM Treasury
(2 years, 2 months ago)
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Baroness Penn (Con)
I think my noble friend has reminded the House on my behalf of those figures. I take the opportunity to say that we are not complacent about London’s position, and we are doing a lot of work beyond the Financial Services and Markets Bill to ensure that it remains competitive—the listings review from the noble Lord, Lord Hill, the second capital raising review and the wholesale markets review, among other pieces of work. The FCA has already delivered a number of rule changes based on the listings review to ensure that we remain competitive.
Lord Rooker (Lab)
Is not London the money laundering capital of the world?
Baroness Penn (Con)
The noble Lord will know that risks come alongside being a premier financial centre. The important thing is that we take action to address those risks. That is what the Government have been doing and will continue to do. We had part one of the economic crime Bill in the previous Session and part two will be forthcoming.