UK: Financial Services Bill receives second reading in House of Lords

The Financial Services Bill received its second reading in the House of Lords yesterday. Hansard, the record of debate, is available here and here. At the end of the day's debate Lord Sassoon proposed a motion to commit the Bill to a Grand Committee for further consideration. There was not, however, sufficient support for the motion because of the strength of feeling that the Bill should be considered by a committee of the whole House. Lord Sassoon therefore withdrew his motion pending further discussion about the manner of the Bill's consideration at committee stage in the Lords.