M
Member
Speaking in the House of Lords on 9 September 2026
Debate
Financial Services and Markets Bill [HL]Contribution
37: Clause 17, page 21, line 34, leave out “omit subsection (5)(a)” and insert “in subsection (5) for paragraph (a) substitute—
“(a) the proportionality regulatory principles (see section 3B(1A)), and””Member's explanatory statement
This amendment would require the FCA to have regard to the proportionality regulatory principles (as defined in the amendment in the name of Lord Pitt-Watson to clause 17 at page 22, line 3) when discharging its general functions.
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