Financial Services and Markets Bill — Report (3rd Day) — Amendment 106 — 13 Jun 2023 at 18:45

Moved by Baroness Kramer

106: After Clause 71, insert the following new Clause-“Protection of banking reform: ring-fencing and SMCR(1) Parts 1 (ring-fencing) and 4 (conduct of persons working in financial services sector) of the Financial Services (Banking Reform) Act 2013 and amendments made by them to FSMA 2000 may not be modified or revoked except by an Act of Parliament.(2) No change or revocation may be made by secondary legislation, including by the PRA and FCA, to-(a) the requirements for ring-fenced bodies, and(b) the senior managers and certification regime, or other rules for the conduct of persons working in the financial services sector,that departs from the principles set out in the final report of the Parliamentary Commission on Banking Standards.(3) For the avoidance of doubt, subsection (2) includes secondary legislation that would allow ring-fenced bodies permanently to carry out excluded activities.(4) This section may not be amended except by an Act of Parliament.”Member’s explanatory statementThis amendment would prevent the Government from making substantive changes to the policy on ring-fencing and SMCR by statutory instrument, and would prevent policy from being amended in a way that departs from the report from the Parliamentary Commission on Banking Standards.

Ayes 184, Noes 188.

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 (Not-Content)Minority (Content)Turnout
Bishop0 14.0%
Con176 (+2 tell) 064.5%
Crossbench4 1611.4%
Green0 2100.0%
Independent Labour0 1100.0%
Judge0 218.2%
Lab0 10558.7%
LDem0 50 (+2 tell)62.7%
Non-affiliated5 517.5%
UUP1 050.0%
Total:186 18245.9%

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

Baroness Cavendish of Little VeniceCrossbenchno
Viscount Craigavon Crossbenchno
Lord Greenway Crossbenchno
Lord Patel Crossbenchno

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