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Lord Livermore (Lab)

Speaking in the House of Lords on 26 March 2026

Debate

HBOS: Fraud Investigation

Contribution

It is very difficult to disagree with what the noble and gallant Lord says, and I am sure I agree with much of it. Substantial protections were put in place in terms of financial services after the financial crisis that he described, and those protections remain; that is, adherence to international standards, ensuring robust NRA remains in place, commitment to ring-fencing and the new FPC, FCA and PRA—that whole architecture. The reforms that were put in place post financial crisis are incredibly important in ensuring ongoing confidence in our financial services sector.

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