Financial Services Act 2021

at end insert— Schedule 3 does not come into effect until each House of Parliament has approved accountability arrangements for the powers conferred on the PRA in that Schedule.

at end insert— Schedule 2 does not come into effect until each House of Parliament has approved accountability arrangements for the powers conferred on the FCA in that Schedule.

Insert the following new Clause— “Skilled person review of supervisory bodies

Insert the following new Clause— “Further matters for regulators to take into account

Insert the following new Clause— “Considerations in setting capital adequacy requirements

Insert the following new Clause— “Parliamentary oversight

after “provision” insert “if the regulations contain the full text of the replacing general rules, unless paragraph (b) applies, and”

Insert the following new Clause— “Duty of the FCA to make rules introducing a duty of care

after “that” insert “the effect of the regulation is compliant with the net zero target of the Climate Change Act 2008 as amended by the Climate Change Act 2008 (2050 Target Amendment) Order 2019 (S.I. 2019/1056), and”

Insert the following new Clause— “Competitiveness as an FCA and PRA objective

at end insert— Where the Treasury makes regulations in reliance on subsection (4)(b), the Treasury must, when laying a draft of the regulations before Parliament, also lay before Parliament a statement explaining why, in the Treasury’s opinion, there are good reasons for revoking the provision.”

leave out “adequately replaced by” and insert “replicated or otherwise reflected in”

Insert the following new Clause— “Duty of care for financial service providers

Insert the following new Clause— “Non-exploitation of consumers or small businesses

At end insert— “High market standards” means—

Insert the following new Clause— “Competitiveness as an objective of the Bank of England

Insert the following new Clause— “Competitiveness as an objective of the FCA and PRA

Insert the following new Clause— “FCA objective to promote financial inclusion in financial services

Baroness Bennett of Manor Castle gives notice of her intention to oppose the Question that Clause 3 stand part of the Bill.

Insert the following new Clause— “Duty of the FCA to make rules promoting financial wellbeing

at end insert— The regulations may also include the following as part of the scheme—

Insert the following new Clause— “Duty of care for financial service providers

Insert the following new Clause— “Access to Sharia-compliant financial services including student finance

Insert the following new Clause— “Regulated activities and application of Consumer Credit Act 1974

leave out “subsection (5)” and insert “section 7(5) of that Act”

at end insert “so far as it applies in England and Wales”

at beginning insert “In section 7 of that Act (debt respite scheme: regulations),”

leave out subsection (2)

Insert the following new Clause— “Undertakings from regulators (No. 2)

Insert the following new Clause— “Undertakings from regulators

Insert the following new Clause— “Bills of Sale Act 1878 and Bills of Sale Act (1878) Amendment Act 1882

Insert the following new Clause— “Regulation of bailiffs and bailiff firms for the purpose of taking control of goods

Insert the following new Clause— “Safe harbour for use of benchmarks

Insert the following new Clause— “Continuity of contract

Insert the following new Clause— “Review of capital adequacy requirements risk weights

Insert the following new Clause— “Periodic independent review of regulators

Insert the following new Clause— “Tough legacy contracts

at end insert— The regulations may also include the following as part of the scheme—

at end insert— Gibraltar-based persons: reporting requirements

Insert the following new Clause— “Retention of personal data under the Market Abuse Regulation