Financial Services Bill — Report (1st Day) — Amendment 1 — 24 Mar 2021 at 15:15

Moved by Lord Stevenson of Balmacara

1: Before Clause 1, insert the following new Clause-“Duty of care for financial service providers(1) The Financial Services and Markets Act 2000 is amended as follows.(2) In section 1C, after subsection (2)(e) insert-“(ea) the general principle that firms should not profit from exploiting a consumer’s vulnerability, behavioural biases or constrained choices;”.(3) After section 137C insert-“137CA FCA general rules: duty of care (1) The power of the FCA to make general rules includes power to introduce a duty of care owed by authorised persons to consumers in carrying out regulated activities under this Act.(2) The FCA must make rules in accordance with subsection (1) which come into force no later than 6 April 2022.””Member’s explanatory statementThis new Clause would strengthen the FCA’s consumer protection objective and introduce requirements for the FCA to make rules for financial services firms that amount to a statutory duty of care.

Ayes 296, Noes 255.

Debate in Parliament |

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Party Summary

Votes by party, red entries are votes against the majority for that party.

What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.

What is Turnout? This is measured against the total membership of the party at the time of the vote.

PartyMajority (Content)Minority (Not-Content)Turnout
Bishop1 03.8%
Con2 21982.2%
Crossbench58 2546.9%
DUP3 180.0%
Green2 0100.0%
Independent Labour1 0100.0%
Judge3 136.4%
Lab142 076.3%
LDem72 083.7%
Non-affiliated11 833.3%
PC1 0100.0%
UUP0 150.0%
Total:296 25567.0%

Rebel Voters - sorted by party

Lords for which their vote in this division differed from the majority vote of their party. You can see all votes in this division, or every eligible lord who could have voted in this division

Sort by: Name | Party | Vote

NamePartyVote
Baroness Altmann Conaye
Lord Holmes of RichmondCon (front bench)aye
Lord Botham Crossbenchno
Lord Butler of BrockwellCrossbench (front bench)no
Lord Cameron of DillingtonCrossbench (front bench)no
Lord Carlile of BerriewCrossbenchno
Lord Carrington Crossbenchno
Lord Chartres Crossbench (front bench)no
The Earl of Cork and OrreryCrossbench (front bench)no
Viscount Craigavon Crossbenchno
Lord Craig of RadleyCrossbenchno
Lord Dannatt Crossbench (front bench)no
The Earl of DevonCrossbench (front bench)no
Lord Evans of WeardaleCrossbenchno
Lord Geidt Crossbenchno
Lord Grabiner Crossbench (front bench)no
Baroness Hogg Crossbenchno
Baroness Hunt of Bethnal GreenCrossbenchno
Lord Laming Crossbench (front bench)no
Lord Mawson Crossbenchno
Lord McDonald of SalfordCrossbenchno
Lord Palmer Crossbenchno
Lord Pannick Crossbenchno
Lord Patel Crossbench (front bench)no
Lord Stevens of KirkwhelpingtonCrossbenchno
Lord Stirrup Crossbench (front bench)no
Lord Walker of AldringhamCrossbenchno
Lord Hay of BallyoreDUPno
Lord Brown of Eaton-under-HeywoodJudge (front bench)no
Lord Bhatia Non-affiliatedno
Lord Faulks Non-affiliated (front bench)no
Lord Gadhia Non-affiliatedno
Baroness Hoey Non-affiliatedno
Lord Lupton Non-affiliatedno
Lord Moore of EtchinghamNon-affiliatedno
Baroness Stuart of EdgbastonNon-affiliatedno
Lord Taylor of WarwickNon-affiliatedno

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