Financial Services Bill
THIRD
MARSHALLED
LIST OF AMENDMENTS
TO BE MOVED
IN COMMITTEE
The amendments have been marshalled in accordance with the Instruction of 4th March 2010, as follows—
| Clauses 5 and 6Schedule 1Clauses 7 to 36 | Schedule 2Clauses 37 to 39 |
[Amendments marked * are new or have been altered]
Amendment
No.
| [Amendments 36 and 37 withdrawn] |
| 38 | Page 4, line 13, leave out "2(2)" and insert "2 (the FSA's general duties)— |
| 39 | Page 4, line 14, at end insert ", and |
| (b) | in subsection (3) (matters to which FSA must have regard in discharging its general functions), after paragraph (g) insert— |
| "(h) | the desirability of enhancing the understanding and knowledge of members of the public of financial matters (including the UK financial system)"" |
| 40 | Page 4, line 15, at end insert— |
| "( ) | In section 5(2) (the protection of consumers), after paragraph (b) insert— |
| "(ba) | any information which the consumer financial education body has provided to the Authority in the exercise of the consumer financial education function;"." |
| [Amendments 41 to 50 withdrawn] |
| | Viscount Eccles gives notice of his intention to oppose the Question that Clause 6 stand part of the Bill. |
| [Amendments 51 to 58 withdrawn] |
| 59 | Page 52, line 31, at end insert— |
| "( ) | The Authority may appoint a person to be a member of the board only if it is satisfied that the person has knowledge or experience which is likely to be relevant to the exercise by the body of the consumer financial education function." |
| [Amendments 60 to 68 withdrawn] |
| 68A | Page 54, line 28, at end insert— |
| "(ab) | how the extent to which each of those objectives is met is to be determined;" |
| 68B | Page 54, line 32, at end insert— |
| "( ) | In sub-paragraph (4) references to objectives for a financial year include objectives for a longer period that includes that year." |
| [Amendments 69 to 74 withdrawn] |
| 75 | Page 56, line 1, at end insert "or payment service providers" |
| 76 | Page 56, line 4, after "persons" insert "or payment service providers" |
| 77 | Page 56, line 5, after "person" insert "or payment service provider" |
| [Amendments 78 and 79 withdrawn] |
| 80 | Page 56, line 15, at end insert— |
| "( ) | "Payment service provider" means a person who is a payment service provider for the purposes of the Payment Services Regulations 2009 as a result of falling within any of paragraphs (a) to (f) of the definition in regulation 2(1)." |
| [Amendments 81 to 86 withdrawn] |
| | Viscount Eccles gives notice of his intention to oppose the Question that Schedule 1 be the First Schedule to the Bill. |
| [Amendments 87 to 102 withdrawn] |
| | Lord Myners gives notice of his intention to oppose the Question that Clause 8 stand part of the Bill. |
| [Amendments 103 to 107 withdrawn] |
| 108 | Page 7, line 11, leave out "The first" |
| 109 | Page 7, line 13, leave out subsections (7) and (8) |
| [Amendments 110 to 154 withdrawn] |
| 155 | Page 12, line 30, at end insert— |
| "( ) | An authorised person may provide information (whether received under subsection (6) or otherwise) that would otherwise be subject to a contractual or other requirement to keep in confidence if it is provided for the purposes of anything required to be done as a result of section 139B or 139C or this section." |
| [Amendments 156 to 167 withdrawn] |
| 167A | Page 14, line 25, at end insert— |
| "( ) | The Authority must, when making short selling rules, have regard to any international agreement as to measures to be taken in respect of short selling." |
| [Amendments 168 to 179 withdrawn] |
| 179A | Page 16, line 32, at end insert— |
| "131EA | Power to require information: supplementary |
| (1) | If the Authority has power under section 131E to require a person to produce a document but it appears that the document is in the possession of a third person, that power may be exercised in relation to the third person. |
| (2) | If a document is produced in response to a requirement imposed under section 131E, the Authority may— |
| (a) | take copies of or extracts from the document; or |
| (b) | require the person producing the document, or any relevant person, to provide an explanation of the document. |
| (3) | In subsection (2)(b) "relevant person", in relation to a person who is required to produce a document, means a person who— |
| (a) | has been or is or is proposed to be a director or controller of that person; |
| (b) | has been or is an auditor of that person; |
| (c) | has been or is an actuary, accountant or lawyer appointed or instructed by that person; or |
| (d) | has been or is an employee of that person. |
| (4) | If a person who is required under section 131E to produce a document fails to do so, the Authority may require the person to state, to the best of the person's knowledge and belief, where the document is. |
| (5) | A lawyer may be required under section 131E to provide the name and address of the lawyer's client. |
| (6) | A person ("P") may not be required under section 131E to disclose information or produce a document in respect of which P owes an obligation of confidence by virtue of carrying on the business of banking unless— |
| (a) | P is the person under investigation or a member of that person's group; |
| (b) | the person to whom the obligation of confidence is owed is the person under investigation or a member of that person`s group; or |
| (c) | the person to whom the obligation of confidence is owed consents to the disclosure or production. |
| (7) | If a person claims a lien on a document, its production under section 131E does not affect the lien." |
| 180A | Page 16, line 38, at end insert "or 131EA" |
| 181 | Page 17, line 6, leave out "four" and insert "three" |
| [Amendments 181 to 184 withdrawn] |
| 184A | Page 20, line 5, after "that" insert "(a)" |
| 184B | Page 20, line 6, after "approval," insert "and |
| (b) | at that time P knew, or could reasonably be expected to have known, that P was performing a controlled function without approval," |
| 186 | Page 20, line 7, at end insert— |
| "( ) | No penalty may be imposed on P under this section after the end of 31st December 2012." |
| 186A | Page 20, leave out lines 8 to 14 |
| [Amendments 187 to 193 withdrawn] |
| 194 | Page 20, line 25, leave out "four" and insert "three" |
| [Amendments 195 to 199 withdrawn] |
| 200 | Page 21, line 6, after "determining" insert "whether a penalty should be imposed and" |
| 201 | Page 21, line 9, at end insert— |
| "(ab) | the extent to which the person could reasonably be expected to have known that a controlled function was performed without approval;" |
| 202 | Page 21, line 13, at end insert— |
| "(2A) | The Authority's policy in determining whether a penalty should be imposed on a person must also include having regard to the appropriateness of taking action against the person instead of, or in addition to, taking action against an authorised person. |
| (2B) | A statement issued under this section must include an indication of the circumstances in which the Authority would expect to be satisfied that a person could reasonably be expected to have known that the person was performing a controlled function without approval." |
| 204 | Page 22, line 31, leave out ""four" and insert ""three" |
| 205 | Insert the following new Clause— |
| "Publication of decision notices |
| (1) | Section 391 of the Financial Services and Markets Act 2000 (publication) is amended as follows. |
| (2) | In subsection (1) (which prevents the FSA and the person to whom a warning or decision notice is given or copied from publishing the notice or any details concerning it), omit "or decision notice". |
| (3) | After that subsection insert— |
| "(1A) | A person to whom a decision notice is given or copied may not publish the notice or any details concerning it unless the Authority has published the notice or those details." |
| (4) | In subsection (4) (duty of FSA to publish information about a final notice), before "final notice" insert "decision notice or"." |
| [Amendments 206 and 284 withdrawn] |
| | Lord Myners gives notice of his intention to oppose the Question that Clause 18 stand part of the Bill. |
| | Lord Myners gives notice of his intention to oppose the Question that Clause 19 stand part of the Bill. |
| | Lord Myners gives notice of his intention to oppose the Question that Clause 20 stand part of the Bill. |
| | Lord Myners gives notice of his intention to oppose the Question that Clause 21 stand part of the Bill. |
| | Lord Myners gives notice of his intention to oppose the Question that Clause 22 stand part of the Bill. |
| | Lord Myners gives notice of his intention to oppose the Question that Clause 23 stand part of the Bill. |
| | Lord Myners gives notice of his intention to oppose the Question that Clause 24 stand part of the Bill. |
| | Lord Myners gives notice of his intention to oppose the Question that Clause 25 stand part of the Bill. |
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