Financial Services Bill

AMENDMENTS
TO BE MOVED
IN COMMITTEE
OF THE WHOLE HOUSE
[Supplementary to the Fourth Marshalled List]

Clause 5

LORD NORTHBROOK

127ZA*

Page 22, line 26, at end insert—

“(7) The Bank must consult with the Markets Practitioner Panel on the regulation of clearing and settlement infrastructure when the FCA agrees that proposed changes will have an impact on the regulation of trading infrastructure.

(8) The Markets Practitioner Panel will be able to request information from the Bank via the FCA to enable them to provide appropriate advice to the FCA.”

128AAA*

Page 23, line 3, at end insert—

“(2) If the Authority disagrees with a view expressed, or proposal made, in the representation, it must give the Panel a statement in writing of its reasons for disagreeing.”

130ZZZA*

Page 27, line 13, leave out from “arrangements” to end of line 14 and insert “should include the establishment of a Practitioner Panel to provide a regular forum for policy debate with a cross section of senior representatives of those firms regulated by the PRA and to consider the cumulative impact of regulation by the PRA and FCA on firms”

130ZAA*

Page 27, line 19, at end insert “but the PRA will not be accountable to practitioners for its decisions having considered the representations”

LORD HODGSON OF ASTLEY ABBOTTS

138C*

Page 29, line 15, at end insert—

“(g) the need to ensure that each regulator employs staff with the necessary knowledge, experience and expertise of the sectors that they regulate, and of policy making at the European level.”

Prepared 18th July 2012