Norman Lamb
Main Page: Norman Lamb (Liberal Democrat - North Norfolk)Department Debates - View all Norman Lamb's debates with the HM Treasury
Clydesdale Bank and SMEs
Norman Lamb Excerpts(5 years, 9 months ago)
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John Glen
I thank the hon. Gentleman for his question. I have set out the expanded remit and role of the ombudsman service and the extension of the money that can be provided. I have also set out the engagement I have had with UK Finance on historical cases. I respectfully say to him that these are very early days—it is only two months since this decision was made, and I look forward to seeing urgent progress.
Norman Lamb (North Norfolk) (LD)
I congratulate the hon. Member for Lanark and Hamilton East (Angela Crawley) on asking this important question. Along with effective dispute resolution, a properly functioning banking and financial services sector that commands the trust of the British people relies on brave individuals who are prepared to blow the whistle on wrongdoing within the institutions where they work. Does the Minister agree that it has become increasingly clear that we need enhanced protection so that people feel able to speak out and a regulator that is prepared to stand up for, support and protect whistleblowers when the going gets tough?
John Glen
I recognise that we need in the Financial Conduct Authority and the PRA regulators that are able to take appropriate action in a timely way to deal with disputes where they have responsibility. I have regular conversations with the FCA and encourage it to look at different matters. I will obviously be concerned about how the expanded ombudsman service and the redress mechanism work, and nothing is ruled out in the future.