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Session 2017-19
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Other Bills before Parliament


 
 

1

 

House of Commons

 
 

Notices of Amendments

 

given up to and including

 

Wednesday 7 March 2018

 

New Amendments handed in are marked thus Parliamentary Star

 

Parliamentary Star - whiteAmendments which will comply with the required notice period at their next appearance

 

Amendments tabled since the last publication: 34 to 41, NC6 to NC8, NC3(a) and 10(a)

 

Consideration of Bill (Report Stage)


 

Financial Guidance and Claims Bill [Lords], As


 

Amended


 

Note

 

This document includes all amendments tabled to date and includes any

 

withdrawn amendments at the end. The amendments have been arranged in the

 

order in which they relate to the Bill.

 

 


 

Secretary Esther McVey

 

NC3

 

To move the following Clause—

 

         

“Unsolicited direct marketing: pensions

 

(1)    

The Secretary of State may make regulations prohibiting unsolicited direct

 

marketing relating to pensions.

 

(2)    

The regulations may—

5

(a)    

make provision about when a communication is to be, or is not to be,

 

treated as unsolicited;

 

(b)    

make provision for exceptions to the prohibition;

 

(c)    

confer functions on the Information Commissioner and on OFCOM

 

(including conferring a discretion);

10

(d)    

apply (with or without modifications) provisions of the Data Protection

 

Act 1998 or the Privacy and Electronic Communications (EC Directive)


 
 

Notices of Amendments: 7 March 2018                     

2

 

Financial Guidance and Claims Bill-[Lords], continued

 
 

Regulations 2003 (S.I. 2003/2426) (including, in particular, provisions

 

relating to enforcement).

 

(3)    

The regulations may—

15

(a)    

make different provision for different purposes;

 

(b)    

make different provision for different areas;

 

(c)    

make incidental, supplementary, consequential, transitional or saving

 

provision.

 

(4)    

Regulations under this section are to be made by statutory instrument.

20

(5)    

A statutory instrument containing regulations under this section may not be made

 

unless a draft of the instrument has been laid before, and approved by a resolution

 

of, each House of Parliament.

 

(6)    

If before the end of June in any year the Secretary of State has not made

 

regulations under this section (whether or not in that year), the Secretary of State

25

must—

 

(a)    

publish a statement, by the end of July in that year, explaining why

 

regulations have not been made and setting a timetable for making the

 

regulations, and

 

(b)    

lay the statement before each House of Parliament.

30

(7)    

In this section, “OFCOM” means the Office of Communications established by

 

section 1 of the Office of Communications Act 2002.”

 

Member’s explanatory statement

 

This new clause inserts a new power for the Secretary of State to make regulations (subject to the

 

affirmative procedure) banning unsolicited direct marketing relating to pensions. If the power is

 

not exercised by June, the Secretary of State must explain to Parliament why not. This new clause

 

would be inserted after Clause 24.

 

As an Amendment to Secretary Esther McVey’s proposed New Clause (Unsolicited

 

direct marketing: pensions) (NC3):—

 

Stephen Lloyd

 

(a)

 

Parliamentary Star    

Line  2,  leave out “may” and insert “must”

 


 

Secretary Esther McVey

 

NC4

 

To move the following Clause—

 

         

“Unsolicited direct marketing: other consumer financial products etc

 

(1)    

The Secretary of State must keep under review whether a prohibition on

 

unsolicited direct marketing in relation to consumer financial products and

 

services other than pensions would be appropriate.

 

(2)    

If the Secretary of State considers that such a prohibition would be appropriate,

 

the Secretary of State may make regulations applying regulations made under

 

section (Unsolicited direct marketing: pensions) to other consumer financial

 

products and services (with or without modifications).

 

(3)    

In considering whether to make such regulations, the Secretary of State must take

 

into account any advice received from the single financial guidance body under

 

section 3(7)(b)(ii) (consumer protection function: advice on effect on consumers

 

of unsolicited direct marketing).


 
 

Notices of Amendments: 7 March 2018                     

3

 

Financial Guidance and Claims Bill-[Lords], continued

 
 

(4)    

The regulations may—

 

(a)    

make different provision for different purposes;

 

(b)    

make different provision for different areas;

 

(c)    

make incidental, supplementary, consequential, transitional or saving

 

provision.

 

(5)    

Regulations under this section are to be made by statutory instrument.

 

(6)    

A statutory instrument containing regulations under this section may not be made

 

unless a draft of the instrument has been laid before, and approved by a resolution

 

of, each House of Parliament.”

 

Member’s explanatory statement

 

This new clause would give the Secretary of State the power to make regulations (subject to the

 

affirmative procedure) banning unsolicited direct marketing in relation to consumer financial

 

products and services other than pensions. It would come immediately after NC3.

 


 

Stella Creasy

 

Gareth Snell

 

Gareth Thomas

 

Stephen Doughty

 

NC1

 

To move the following Clause—

 

         

“High-cost credit: advice to the Financial Conduct Authority

 

(1)    

In exercising its functions the single financial guidance body must have regard to

 

the effect of high-cost credit card lending on consumer protection and must

 

produce and publish an annual assessment of any consumer detriment.

 

(2)    

The assessment under subsection (1) shall in particular consider—

 

(a)    

what level of interest and fees constitute a high-cost credit card;

 

(b)    

information provided by high-cost credit card providers to customers,

 

and whether such information allows customers to make informed

 

financial decisions;

 

(c)    

the impact of high-cost credit lending on levels of personal debt,

 

    

as well as any other factors that the single financial guidance body considers

 

relevant.

 

(3)    

If the single financial guidance body considers it to be necessary for consumer

 

protection it must advise the Financial Conduct Authority to impose a limit on the

 

cost of specified types of credit.”

 

Member’s explanatory statement

 

This new clause would require the single financial guidance body to consider the effect of high-

 

cost lending using credit cards on consumer protection and produce an annual assessment of any

 

consumer detriment from such high-cost lending.

 



 
 

Notices of Amendments: 7 March 2018                     

4

 

Financial Guidance and Claims Bill-[Lords], continued

 
 

Jack Dromey

 

Debbie Abrahams

 

Mike Amesbury

 

Vicky Foxcroft

 

NC2

 

To move the following Clause—

 

         

“Specific requirements as to the pensions guidance function: mid life reviews

 

(1)    

As part of its pensions guidance and money guidance functions, the single

 

financial guidance body must provide targeted information and guidance for

 

members of the public from the age of 50 to help them make decisions on their

 

financial affairs.

 

(2)    

In particular, the information and guidance in subsection (1) shall include

 

information and guidance on—

 

(a)    

increasing pension contributions in preparation for retirement,

 

(b)    

saving money in preparation for retirement, and

 

(c)    

career development and the impact of career development on financial

 

matters including preparation for retirement.”

 

Member’s explanatory statement

 

This new clause provides for the single financial guidance body to provide guidance to members

 

of the public over the age of 50, to prepare them for retirement. These “mid life reviews” would

 

provide guidance on pensions, savings, and career development.

 


 

Frank Field

 

NC5

 

Parliamentary Star - white    

To move the following Clause—

 

         

“Unsolicited direct marketing: pensions

 

(1)    

The Secretary of State may make regulations prohibiting unsolicited direct

 

marketing relating to pensions and prohibiting the use for commercial purposes

 

of information obtained by means of such direct marketing.

 

(2)    

The regulations may—

 

(a)    

make provision about when a communication is to be, or is not to

 

be,treated as unsolicited;

 

(b)    

make provision for exceptions to the prohibition;

 

(c)    

confer functions on the Information Commissioner, on OFCOM and on

 

the Financial Conduct Authority

 

(d)    

apply (with or without modifications) provisions of the Data Protection

 

Act 1998, the Privacy and Electronic Communications (EC Directive)

 

Regulations 2003 (S.I. 2003/2426) or the Financial Services and Markets

 

Act 2000 (including, in particular, provisions relating to enforcement).

 

(3)    

The regulations may—

 

(a)    

make different provision for different purposes;

 

(b)    

make different provision for different areas;

 

(c)    

make incidental, supplementary, consequential, transitional or saving

 

provision.

 

(4)    

Regulations under this section are to be made by statutory instrument.


 
 

Notices of Amendments: 7 March 2018                     

5

 

Financial Guidance and Claims Bill-[Lords], continued

 
 

(5)    

A statutory instrument containing regulations under this section may not be made

 

unless a draft of the instrument has been laid before, and approved by a resolution

 

of, each House of Parliament.

 

(6)    

If before the end of June in any year the Secretary of State has not made

 

regulations under this section (whether or not in that year), the Secretary of State

 

must—

 

(a)    

publish a statement, by the end of July in that year, explaining why

 

regulations have not been made and setting a timetable for making the

 

regulations, and

 

(b)    

lay the statement before each House of Parliament.

 

(7)    

In this section, “OFCOM” means the Office of Communications established by

 

section 1 of the Office of Communications Act 2002.”

 

Member’s explanatory statement

 

This new clause inserts a new power for the Secretary of State to make regulations (subject to the

 

affirmative procedure) banning unsolicited direct marketing relating to pensions and the use for

 

commercial purposes of information obtained by means of such direct marketing. If the power is

 

not exercised by the end of June, the Secretary of State must explain to Parliament why not.

 


 

Jack Dromey

 

Debbie Abrahams

 

Mike Amesbury

 

Vicky Foxcroft

 

NC6

 

Parliamentary Star    

To move the following Clause—

 

         

“Regulatory principles to be applied in respect of claims management

 

services—

 

(1)    

The FCA may make recommendations to the Secretary of State on regulatory

 

principles to be applied to claims management services.

 

(2)    

The matters on which the FCA may make recommendations include, in relation

 

to claims management services—

 

(a)    

the duties of authorised persons to act honestly, fairly and professionally

 

in accordance with the best interests of consumers;

 

(b)    

the duties of authorised persons to manage conflicts of interest fairly,

 

both between themselves and their clients, and between clients;

 

(c)    

other duties of authorised persons related to a duty of care towards their

 

clients.

 

(3)    

If the FCA recommends that regulatory principles be applied to claims

 

management services, the Secretary of State may by regulations impose such

 

principles.

 

(4)    

The power to make regulations under subsection (3) is exercisable by statutory

 

instrument; and an instrument containing such regulations is subject to annulment

 

in pursuance of a resolution of either House of Parliament.

 

(5)    

In this section, “authorised person” has the same meaning as in the Financial

 

Services and Markets Act 2000, and “authorised persons” shall be construed

 

accordingly.”

 

Member’s explanatory statement

 

This new clause would allow the FCA to recommend that the Secretary of State introduces a duty


 
 

Notices of Amendments: 7 March 2018                     

6

 

Financial Guidance and Claims Bill-[Lords], continued

 
 

of care which would require claims management services to act with the best interests of the

 

customers in mind.

 


 

Stephen Lloyd

 

NC7

 

Parliamentary Star    

To move the following Clause—

 

         

“Assessment of public preparedness for income shocks

 

(1)    

As part of its strategic function, the single financial guidance body must from

 

time to time publish an assessment of the ability of members of the public to plan

 

for and address sudden reductions in income.

 

(2)    

An assessment under this section must consider the impact of the work of the

 

single financial guidance body on the ability of members of the public to plan for

 

and address sudden reductions in income.

 

(3)    

The Secretary of State must lay before the House of Commons any assessment

 

conducted under this section as soon as practicable after its completion.”

 


 

Steve McCabe

 

NC8

 

Parliamentary Star    

To move the following Clause—

 

         

“Ban on unsolicited real-time direct approaches by, on behalf of, or for the

 

benefit of companies carrying out claims management services and a ban on

 

the use by claims management companies of data obtained by such methods

 

(1)    

The FCA must, as soon as they take responsibility for claim management

 

companies, introduce bans on—

 

(a)    

unsolicited real-time direct approaches to members of the public carried

 

out by whatever means, digital or otherwise, by, on behalf of, or for the

 

benefit of companies carrying out claims management services or their

 

agents or representatives, and

 

(b)    

the use for any purpose of any data by companies carrying out claims

 

management services, their agents or representatives where they cannot

 

demonstrate to the satisfaction of the FCA that this data does not arise

 

from any unsolicited real-time direct approach to members of the public

 

carried out by whatever means, digital or otherwise.

 

(2)    

The FCA must fix the appropriate penalties for breaches of subsection (1)(a) and

 

(b) above.”

 

 



 
 

Notices of Amendments: 7 March 2018                     

7

 

Financial Guidance and Claims Bill-[Lords], continued

 
 

Gareth Thomas

 

Luciana Berger

 

Stella Creasy

 

Gareth Snell

 

Stephen Doughty

 

Liam Byrne

Frank Field

Lisa Nandy

Dan Jarvis

Clive Efford

Mr Paul Sweeney

Alex Sobel

Chris Evans

Anna Turley

Kate Green

David Hanson

Tracey Brabin

Mike Gapes

Lucy Powell

John Woodcock

 

31

 

Parliamentary Star - white    

Clause  2,  page  2,  line  17,  at end insert—

 

    

“including information about the services offered by credit unions,”

 

Member’s explanatory statement

 

This amendment adds to the objectives of the single financial guidance body the requirement to

 

provide information about credit unions.

 

Neil Gray

 

39

 

Parliamentary Star    

Clause  2,  page  2,  line  23,  leave out from “accordingly” to the end of line 24 and

 

insert—

 

“(da)    

to ensure the needs of people in vulnerable circumstances, including but

 

not exclusively—

 

(i)    

those who suffer long-term sickness or disability,

 

(ii)    

carers,

 

(iii)    

those on low incomes, and

 

(iv)    

recipients of benefits,

 

    

are met and that resources are allocated in such a way as to allow

 

specially trained advisers and guidance to be made available to them,”

 

Member’s explanatory statement

 

This amendment would require that specially trained advisers and guidance are made available to

 

people in vulnerable circumstances and would provide an indicative list of what vulnerable

 

circumstances should include.

 

Neil Gray

 

40

 

Parliamentary Star    

Clause  2,  page  2,  line  36,  at end insert—

 

“(4)    

The single financial guidance body must ensure it communicates to consumers

 

using its services the difference between—

 

(a)    

provision of information,

 

(b)    

provision of guidance,

 

(c)    

provision of advice.”

 

Member’s explanatory statement

 

This amendment would require the new body to ensure that consumers are made aware of the

 

differences between ‘information’, ‘guidance’ and ‘advice’ so that they can specify what type of

 

services they require from the new body.

 



 
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Revised 07 March 2018