M
Member
Speaking in the House of Lords on 18 November 2024
Debate
Building Societies Act 1986 (Modifications) Order 2024Contribution
These are relatively small things but the lessons of the past are that temptation can be quite powerful in any organisation engaged in the financial sector. It is very hard for the regulators to genuinely monitor such a wide range of institutions. I am therefore concerned to understand why that decision is being taken. To me, these are not ordinary companies. They are companies whose integrity is far more fundamental to our well-being and our economy than many other institutions. We will not oppose this but I would say that, in my own head, some red flags are raised here.
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