Tuesday, 9 October 2012

UK: Financial Services Bill - Committee stage debate resumes

The House of Lords resumed its consideration of the Financial Services Bill yesterday at Committee stage. Hansard, the official record of debate, is available here and a video recording of the debate is available here. At the start of debate, Lord Sassoon, the Commercial Secretary to the Treasury, was asked to comment on the implementation of the recommendations made in the Wheatley Review of LIBOR. He responded: "Should the Government decide to accept Martin Wheatley's recommendations in full, we anticipate that the clauses which would implement the review will indeed be debated at the Report stage of this Bill, and the draft clauses will be published in good time in advance of that date" (Hansard, col. 830).

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