Member

The Minister will be aware that I wrote to him on behalf of the Financial Services Regulation Committee last week. That committee incorporates Members from all sides of your Lordships’ House. The letter outlines serious concerns with Clause 17 and the ability of the committee to hold the regulators to account if it remains in the Bill—the letter can be found on the committee’s website. It asks for the Minister to meet the committee to discuss our concerns. The Minister is still new to our House and may not be aware that it is a very unusual step for a committee to take, so I hope that he will respond positively. I am pleased to take this opportunity to place that letter on the record. Democratic oversight and regulator accountability are issues that will run through almost all our consideration on the Bill.