Member

We agree that Parliament has a vital role to play in scrutinising the work of the regulators, and that effective parliamentary scrutiny is an essential element of our regulatory framework. Parliament, government and the regulators must all work together to ensure that we have a regulatory environment that is effective and proportionate. The Government have heard the strength of feeling across the House and welcome the commitments that we have had from the regulators to work to ensure that Parliament has the information that it needs to fulfil its role. I am confident that the Government, Parliament and the regulator have a shared ambition and commitment that we can work on together to make reality. For those reasons, the Government do not consider that further legislative amendments are needed, and I ask the noble Baroness not to press her amendment. I beg to move.