Member

Amendment 120 would require a separate statutory framework and specify particular technologies, such as AI and distributed ledger systems, to be included in the Bill. That risks predetermining regulatory priorities in primary legislation, rather than allowing the regulator to focus on the most relevant issues as technology develops. It would also add publication, review and resourcing requirements, without any clear additional benefit. For the common reasons of flexibility, proportionality and avoiding duplication, I ask the noble Lord, Lord Holmes, not to press Amendment 120.