Financial Services Bill Debate

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Department: HM Treasury
Monday 26th November 2012

(11 years, 11 months ago)

Lords Chamber
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Lord Stewartby Portrait Lord Stewartby
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My Lords, I must be very brief and I shall speak only once. I want to say something in support of my noble friend Lord Flight, who made a very strong case. I have never been able to understand why financial advisers alone have no longstop for their potential liability in future years. I hope that this opportunity of having legislation which is relevant can be taken to set that right.

Lord Peston Portrait Lord Peston
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Perhaps I could just ask my question now, please. When the noble Lord, Lord Flight, talked about financial advisers, was he talking only about people who advise and receive a payment for their advice, or does his amendment cover those who give advice without payment?