To ask the Secretary of State for the Home Department, what support and guidance her Department provides to young male victims of online exploitation.

To ask the Secretary of State for the Home Department, what support and guidance her Department provides to young male victims of online exploitation.

To ask the Secretary of State for Defence, with reference to page 50 of the Defence Investment Plan, published on 30 June 2026, how many of the over 90,000 annual cyber attacks on Defence systems were assessed as (a) serious and (b) successful in the 12 months to September 2026.

To ask the Secretary of State for Defence, with reference to page 50 of the Defence Investment Plan, published on 30 June 2026, how many of the over 90,000 annual cyber attacks on Defence systems were assessed as (a) serious and (b) successful in the 12 months to September 2026.

To ask the Secretary of State for Defence, with reference to page 50 of the Defence Investment Plan, published on 30 June 2026, which (a) state and (b) non-state actors are responsible for cyber attacks on Defence systems.

To ask the Secretary of State for Defence, with reference to page 50 of the Defence Investment Plan, published on 30 June 2026, which (a) state and (b) non-state actors are responsible for cyber attacks on Defence systems.

To ask the Secretary of State for Energy Security and Net Zero, whether her Department will name the power generation facility reportedly shut down for four days in July 2026 as a result of a cyber attack, and whether her Department's assessment attributes that attack to a state or state-linked...

To ask the Secretary of State for Energy Security and Net Zero, whether her Department will name the power generation facility reportedly shut down for four days in July 2026 as a result of a cyber attack, and whether her Department's assessment attributes that attack to a state or state-linked...

To ask the Secretary of State for Defence, how many nationally significant cyber-attacks occurred in (a) 2025 and (b) 2026.

To ask the Secretary of State for Defence, how many nationally significant cyber-attacks occurred in (a) 2025 and (b) 2026.

To ask His Majesty's Government what steps they are taking to investigate the claims by the leader of Reform UK of cyber-hacking by Russian hostile actors.

To ask His Majesty's Government what steps they are taking to investigate the claims by the leader of Reform UK of cyber-hacking by Russian hostile actors.

To ask the Secretary of State for Health and Social Care, what estimate he has made of the cost of the 2022 LockBit attack on NHS 111 and other patient services.

To ask the Secretary of State for Health and Social Care, what estimate he has made of the cost of the 2022 LockBit attack on NHS 111 and other patient services.

To ask the Secretary of State for Defence, how many Ministry of Defence personnel were affected by the reported cyberattack that compromised data associated with the Police National Legal Database and related systems.

To ask the Secretary of State for Defence, how many Ministry of Defence personnel were affected by the reported cyberattack that compromised data associated with the Police National Legal Database and related systems.

To ask the Secretary of State for Energy Security and Net Zero, how many households' energy needs are met, on average, by the power generation facility reportedly shut down for four days in July 2026 as a result of a cyber attack.

To ask the Secretary of State for Energy Security and Net Zero, how many households' energy needs are met, on average, by the power generation facility reportedly shut down for four days in July 2026 as a result of a cyber attack.

To ask the Secretary of State for Energy Security and Net Zero, what support (a) her Department, (b) the National Cyber Security Centre and (c) other government bodies provided to the operator of the power generation facility reportedly shut down for four days in July 2026 as a result of...

To ask the Secretary of State for Energy Security and Net Zero, what support (a) her Department, (b) the National Cyber Security Centre and (c) other government bodies provided to the operator of the power generation facility reportedly shut down for four days in July 2026 as a result of...

Moved by

Baroness Hoey

16: After Clause 12, insert the following new Clause—

“Claims management services: Northern Ireland

(1) The Treasury may by regulations made by statutory instrument make provision for claims management services provided in, from or into Northern Ireland to be regulated under the Financial Services and Markets Act 2000 on a...

Moved by

Baroness Hoey

16: After Clause 12, insert the following new Clause—

“Claims management services: Northern Ireland

(1) The Treasury may by regulations made by statutory instrument make provision for claims management services provided in, from or into Northern Ireland to be regulated under the Financial Services and Markets Act 2000 on a...

My Lords, this amendment follows on from the amendment tabled in Committee by the noble Lord, Lord Hunt of Wirral. I am bringing the House’s attention to a growing and deeply concerning problem in Northern Ireland’s insurance market. The

market is shrinking in insurer capacity, it is becoming less competitive,...

My Lords, this amendment follows on from the amendment tabled in Committee by the noble Lord, Lord Hunt of Wirral. I am bringing the House’s attention to a growing and deeply concerning problem in Northern Ireland’s insurance market. The

market is shrinking in insurer capacity, it is becoming less competitive,...

My Lords, I support the amendment in the name of the noble Baroness, Lady Hoey. It is well thought through, balanced and modest. The House will be relieved that, for once, neither I nor the noble Baroness, Lady Hoey, are even mentioning the Northern Ireland protocol or the Windsor Framework...

My Lords, I support the amendment in the name of the noble Baroness, Lady Hoey. It is well thought through, balanced and modest. The House will be relieved that, for once, neither I nor the noble Baroness, Lady Hoey, are even mentioning the Northern Ireland protocol or the Windsor Framework...

My Lords, taking up the last point from the noble Lord, Lord Weir, the Prime Minister, on his recent visits and tour of the UK, has emphasised that the primary focus of the Government is to help people with the cost of living. Because our population in Northern Ireland is...

My Lords, taking up the last point from the noble Lord, Lord Weir, the Prime Minister, on his recent visits and tour of the UK, has emphasised that the primary focus of the Government is to help people with the cost of living. Because our population in Northern Ireland is...

I support the noble Baroness, Lady Hoey, and the noble Lords, Lord Weir of Ballyholme and Lord Empey. In doing so, I declare my interest as past chairman of the British Insurance Brokers’ Association and a practising solicitor in the City of London.

We have campaigned within the broking community for...

I support the noble Baroness, Lady Hoey, and the noble Lords, Lord Weir of Ballyholme and Lord Empey. In doing so, I declare my interest as past chairman of the British Insurance Brokers’ Association and a practising solicitor in the City of London.

We have campaigned within the broking community for...

My Lords, notwithstanding the anomalies that have been discussed—there are significant anomalies in insurance in England as well—we have some concerns about this amendment. It would hand the Treasury very extensive powers to act through secondary legislation, including the ability to amend primary legislation. We have raised concerns consistently in...

My Lords, notwithstanding the anomalies that have been discussed—there are significant anomalies in insurance in England as well—we have some concerns about this amendment. It would hand the Treasury very extensive powers to act through secondary legislation, including the ability to amend primary legislation. We have raised concerns consistently in...

My Lords, Amendment 16 would give the Treasury the power to extend regulation of claims management activity to Northern Ireland through secondary legislation. I am aware of the concerns relating to high insurance costs across the UK and would be supportive of action to tackle these where we can, but...

My Lords, Amendment 16 would give the Treasury the power to extend regulation of claims management activity to Northern Ireland through secondary legislation. I am aware of the concerns relating to high insurance costs across the UK and would be supportive of action to tackle these where we can, but...

My Lords, there I was thinking that we had a Minister who was going to be much more reassuring, but, in fact, that was a very negative response. All the things he said have already happened and could be happening in more detail if the Government were to move forward...

My Lords, there I was thinking that we had a Minister who was going to be much more reassuring, but, in fact, that was a very negative response. All the things he said have already happened and could be happening in more detail if the Government were to move forward...

Moved by

Baroness Kramer

17: After Clause 13, insert the following new Clause—

“Reimbursement of fraud: liability of technology companies

(1) The FCA must make rules providing that, where a person is to be reimbursed in respect of losses arising from an authorised push payment fraud, the cost of that reimbursement is to be...

Moved by

Baroness Kramer

17: After Clause 13, insert the following new Clause—

“Reimbursement of fraud: liability of technology companies

(1) The FCA must make rules providing that, where a person is to be reimbursed in respect of losses arising from an authorised push payment fraud, the cost of that reimbursement is to be...

My Lords, let me address Amendment 17 in my name, which is also signed by the noble Lord, Lord Vaux, which I very much appreciate. It addresses authorised push payment fraud and would require the tech companies whose platforms are host to this fraud to share in the reimbursement of...

My Lords, let me address Amendment 17 in my name, which is also signed by the noble Lord, Lord Vaux, which I very much appreciate. It addresses authorised push payment fraud and would require the tech companies whose platforms are host to this fraud to share in the reimbursement of...

My Lords, I have added my name in support of Amendment 17, which the noble Baroness, Lady Kramer has already explained, I have also tabled Amendment 19. Both amendments relate to the continuing problem of fraud. As noble Lords are probably aware, the last Financial Services and Markets Act led...

My Lords, I have added my name in support of Amendment 17, which the noble Baroness, Lady Kramer has already explained, I have also tabled Amendment 19. Both amendments relate to the continuing problem of fraud. As noble Lords are probably aware, the last Financial Services and Markets Act led...

My Lords, my Amendment 95 raises the issue of non-compete legislation. When this was raised in Committee, the Minister undertook to respond. His response was to refer to a 2025 working paper, but action is needed. Could I urge the Minister to pursue this and not to allow the report...

My Lords, my Amendment 95 raises the issue of non-compete legislation. When this was raised in Committee, the Minister undertook to respond. His response was to refer to a 2025 working paper, but action is needed. Could I urge the Minister to pursue this and not to allow the report...

My Lords, I speak to Amendment 97, which appears in this group in my name. I commend the noble Baroness, Lady Kramer, and the noble Lord, Lord Vaux, for providing us with powerful arguments, particularly for Amendment 17. I echo the noble Lord’s comments as, if the noble Baroness wishes...

My Lords, I speak to Amendment 97, which appears in this group in my name. I commend the noble Baroness, Lady Kramer, and the noble Lord, Lord Vaux, for providing us with powerful arguments, particularly for Amendment 17. I echo the noble Lord’s comments as, if the noble Baroness wishes...

My Lords, we are concerned about the scale of fraud, and in particular by the continued growth of authorised push payment fraud and other forms of online economic crime. The Government and the banks have made progress, but the truth is that it is hard to keep up with the...

My Lords, we are concerned about the scale of fraud, and in particular by the continued growth of authorised push payment fraud and other forms of online economic crime. The Government and the banks have made progress, but the truth is that it is hard to keep up with the...

My Lords, before I respond, I must start with a correction. In the third debate, I said that commercial credit data-sharing schemes improve bank referrals and strengthen personal lending. However, the CCDS and the bank referral scheme are different schemes. To correct the record, I meant that the Government are...

My Lords, before I respond, I must start with a correction. In the third debate, I said that commercial credit data-sharing schemes improve bank referrals and strengthen personal lending. However, the CCDS and the bank referral scheme are different schemes. To correct the record, I meant that the Government are...

I am terribly sorry to interrupt the Minister, but perhaps he could explain why the FCA has stopped the reports that the PSR was previously providing.

I am terribly sorry to interrupt the Minister, but perhaps he could explain why the FCA has stopped the reports that the PSR was previously providing.

I am unable to answer the noble Lord’s question; might I write to him with an answer?

Amendment 20 was discussed in Committee and the Government’s position remains unchanged. As set out in Committee, a range of measures is already in place and further work is under way across government, regulators...

I am unable to answer the noble Lord’s question; might I write to him with an answer?

Amendment 20 was discussed in Committee and the Government’s position remains unchanged. As set out in Committee, a range of measures is already in place and further work is under way across government, regulators...

Before the Minister sits down, can I ask for a potential timeframe on when the noble Lord expects to see progress on that work in the Home Office?

Before the Minister sits down, can I ask for a potential timeframe on when the noble Lord expects to see progress on that work in the Home Office?

Again, if the noble Baroness will accept it, I will write to her on that. I do not know the timetable offhand.

Again, if the noble Baroness will accept it, I will write to her on that. I do not know the timetable offhand.

My Lords, the online platforms know exactly what they have to do to stop online fraud; they are just choosing not to do it. The Government say that the answer will come from Ofcom, but that has certainly not worried the platforms one iota. The platforms will take notice only...

My Lords, the online platforms know exactly what they have to do to stop online fraud; they are just choosing not to do it. The Government say that the answer will come from Ofcom, but that has certainly not worried the platforms one iota. The platforms will take notice only...

Moved by

Lord Pitt-Watson

18: Schedule 2, page 78, leave out lines 27 to 30

Member’s explanatory statement

This amendment would remove a subsection which duplicates section 131Z19 of the Financial Services and Markets Act 2000 (inserted by paragraph 18 of Schedule 2).

Moved by

Lord Pitt-Watson

18: Schedule 2, page 78, leave out lines 27 to 30

Member’s explanatory statement

This amendment would remove a subsection which duplicates section 131Z19 of the Financial Services and Markets Act 2000 (inserted by paragraph 18 of Schedule 2).

Moved by

Lord Pitt-Watson

21: Schedule 2, page 83, line 5, leave out “131Z12, 131Z13 or 131Z14” and insert “131Z13, 131Z14 or 131Z15”

Member’s explanatory statement

This amendment would correct a cross-reference.

Moved by

Lord Pitt-Watson

21: Schedule 2, page 83, line 5, leave out “131Z12, 131Z13 or 131Z14” and insert “131Z13, 131Z14 or 131Z15”

Member’s explanatory statement

This amendment would correct a cross-reference.

Moved by

Lord Pitt-Watson

22: Schedule 2, page 85, line 13, at end insert “, and

(ii) in its application as a secondary objective, the objective set out in section 30J(1) of the Bank of England Act 1998 (payment systems etc: innovation).”

Member’s explanatory statement

This amendment is consequential on the amendment in the name...

Moved by

Lord Pitt-Watson

22: Schedule 2, page 85, line 13, at end insert “, and

(ii) in its application as a secondary objective, the objective set out in section 30J(1) of the Bank of England Act 1998 (payment systems etc: innovation).”

Member’s explanatory statement

This amendment is consequential on the amendment in the name...

In moving my Amendment 22, I will also speak to government Amendments 58 and 59. Amendment 22 is developed from our discussions in Committee.

Payment systems are essential national infrastructure. They allow households to pay bills, businesses to trade and financial institutions to transfer funds securely. As technology changes how we...

In moving my Amendment 22, I will also speak to government Amendments 58 and 59. Amendment 22 is developed from our discussions in Committee.

Payment systems are essential national infrastructure. They allow households to pay bills, businesses to trade and financial institutions to transfer funds securely. As technology changes how we...

My Lords, I have a couple of very brief comments. I am comfortable with the amendments that the Minister has just described, but I have one note of caution. The drive for innovation, which we all think is a good thing, in many ways also increasingly exposes the UK to...

My Lords, I have a couple of very brief comments. I am comfortable with the amendments that the Minister has just described, but I have one note of caution. The drive for innovation, which we all think is a good thing, in many ways also increasingly exposes the UK to...

My Lords, we welcome these amendments and the movement from the Government on this important issue. I look forward to the Bank of England’s first report on its innovation objective and hope that it will help to drive much-needed growth in the economy. I am sure that the reports will...

My Lords, we welcome these amendments and the movement from the Government on this important issue. I look forward to the Bank of England’s first report on its innovation objective and hope that it will help to drive much-needed growth in the economy. I am sure that the reports will...

Moved by

Lord Pitt-Watson

23: Schedule 2, page 93, line 6, at end insert—

“(aa) in paragraph 2(3), omit

“, (ca)”

;”

Member’s explanatory statement

This amendment would remove a cross-reference to the paragraph omitted by paragraph 58(a) of Schedule 2.

24: Schedule 2, page 93, line 7, leave out “2(3)” and insert “3(7)”

Member’s explanatory statement

This amendment would...

Moved by

Lord Pitt-Watson

23: Schedule 2, page 93, line 6, at end insert—

“(aa) in paragraph 2(3), omit

“, (ca)”

;”

Member’s explanatory statement

This amendment would remove a cross-reference to the paragraph omitted by paragraph 58(a) of Schedule 2.

24: Schedule 2, page 93, line 7, leave out “2(3)” and insert “3(7)”

Member’s explanatory statement

This amendment would...

Moved by

Baroness Kramer

26: After Clause 14, insert the following new Clause—

“Anti-money laundering: provision of support to professional services firms

(1) Within three months of the day on which this Act is passed, the Treasury must publish an assessment of the arrangements that will be made to provide education, guidance and compliance...

Moved by

Baroness Kramer

26: After Clause 14, insert the following new Clause—

“Anti-money laundering: provision of support to professional services firms

(1) Within three months of the day on which this Act is passed, the Treasury must publish an assessment of the arrangements that will be made to provide education, guidance and compliance...

My Lords, I am afraid that all the amendments in this group are mine. Amendment 29 has also been signed by the noble Lord, Lord Vaux, for which I am most grateful. I will be brief as the hour is late.

In this Bill, the Government will transfer all supervision of...

My Lords, I am afraid that all the amendments in this group are mine. Amendment 29 has also been signed by the noble Lord, Lord Vaux, for which I am most grateful. I will be brief as the hour is late.

In this Bill, the Government will transfer all supervision of...

My Lords, I support the noble Baroness, Lady Kramer, on her Amendment 29, to which I have added my name. The noble Baroness has already explained with her usual clarity the concerns that lie behind this group of amendments so I will try not to repeat what she said.

The changes...

My Lords, I support the noble Baroness, Lady Kramer, on her Amendment 29, to which I have added my name. The noble Baroness has already explained with her usual clarity the concerns that lie behind this group of amendments so I will try not to repeat what she said.

The changes...

My Lords, these amendments reflect a number of important concerns about the proposed transfer of anti-money laundering supervision to the FCA. We do not believe that each of these points requires legislative commitment. However, we have also been made aware of serious concerns from industry about how this transition is...

My Lords, these amendments reflect a number of important concerns about the proposed transfer of anti-money laundering supervision to the FCA. We do not believe that each of these points requires legislative commitment. However, we have also been made aware of serious concerns from industry about how this transition is...

My Lords, I am grateful to the noble Baroness, Lady Kramer, for tabling these amendments concerning the implementation of the reform of the UK’s anti-money laundering and counterterrorist financing supervisory regime. The points everyone is raising about the implementation of this needing to be well done are extremely important, as...

My Lords, I am grateful to the noble Baroness, Lady Kramer, for tabling these amendments concerning the implementation of the reform of the UK’s anti-money laundering and counterterrorist financing supervisory regime. The points everyone is raising about the implementation of this needing to be well done are extremely important, as...

My Lords, I apologise for interrupting. The Minister has not answered the question of what assessment the Government have made of the cost impact on firms of moving from a single supervisor to dealing with two, particularly for small firms.

My Lords, I apologise for interrupting. The Minister has not answered the question of what assessment the Government have made of the cost impact on firms of moving from a single supervisor to dealing with two, particularly for small firms.

I am not aware of an individual calculation that has been done for that. I do not think that there will be a materially greater cost once the move is made. The key issue that we are trying to address here is that, right now, we have 23 regulators of...

I am not aware of an individual calculation that has been done for that. I do not think that there will be a materially greater cost once the move is made. The key issue that we are trying to address here is that, right now, we have 23 regulators of...

I withdraw the amendment.

I withdraw the amendment.

Moved by

Lord Pitt-Watson

31: Clause 16, page 18, line 38, at end insert—

“(ba) the competitiveness and growth objective (see section 1EB), and”

Member's explanatory statement

This amendment would clarify that the strategic priorities set out by the FCA in a long-term strategy under new section 1JZA of the Financial Services and Markets Act...

Moved by

Lord Pitt-Watson

31: Clause 16, page 18, line 38, at end insert—

“(ba) the competitiveness and growth objective (see section 1EB), and”

Member's explanatory statement

This amendment would clarify that the strategic priorities set out by the FCA in a long-term strategy under new section 1JZA of the Financial Services and Markets Act...

My Lords, growth is the top priority for the Government, and the financial services sector is key to delivering this. As my noble friend Lord Stockwood set out in Committee, the Government always intended that the FCA’s long-term strategy would set out its priorities for advancing its international competitiveness and...

My Lords, growth is the top priority for the Government, and the financial services sector is key to delivering this. As my noble friend Lord Stockwood set out in Committee, the Government always intended that the FCA’s long-term strategy would set out its priorities for advancing its international competitiveness and...

My Lords, it is late, so I shall be relatively brief and not revisit the issues that we looked at in Committee. When I tabled these amendments, I still hoped that there would be some agreement reached on restoring the information hooks that Parliament has relied on until now for...

My Lords, it is late, so I shall be relatively brief and not revisit the issues that we looked at in Committee. When I tabled these amendments, I still hoped that there would be some agreement reached on restoring the information hooks that Parliament has relied on until now for...

My Lords, this is the first time I have spoken on Report, so I need to declare my interests as shown in the register, namely, that I hold shares in listed financial services companies, which may well be affected by the content of this Bill.

I start by thanking the Government...

My Lords, this is the first time I have spoken on Report, so I need to declare my interests as shown in the register, namely, that I hold shares in listed financial services companies, which may well be affected by the content of this Bill.

I start by thanking the Government...

My Lords, I declare my interest as an adviser to and shareholder in Banco Santander. Your Lordships will be pleased to know that I will speak very briefly on Amendment 68. My noble friend Lady Noakes just covered the waterfront incredibly well, in her exemplary manner, and made all the...

My Lords, I declare my interest as an adviser to and shareholder in Banco Santander. Your Lordships will be pleased to know that I will speak very briefly on Amendment 68. My noble friend Lady Noakes just covered the waterfront incredibly well, in her exemplary manner, and made all the...

My Lords, I begin by paying tribute to my noble friend Lady Noakes, to the Financial Services Regulation Committee, including the noble Baroness, Lady Bowles, and the noble Lord, Lord Vaux, and to my noble friend Lord Bridges of Headley for their persistent pursuit of a very simple but important...

My Lords, I begin by paying tribute to my noble friend Lady Noakes, to the Financial Services Regulation Committee, including the noble Baroness, Lady Bowles, and the noble Lord, Lord Vaux, and to my noble friend Lord Bridges of Headley for their persistent pursuit of a very simple but important...

My Lords, I will not take up too much time because I responded to many of the points at the beginning of the debate. On the Independent Evaluation Office at the Bank of England, the Bank is committed to independent evaluation. It is strengthening the independence of the reviews that...

My Lords, I will not take up too much time because I responded to many of the points at the beginning of the debate. On the Independent Evaluation Office at the Bank of England, the Bank is committed to independent evaluation. It is strengthening the independence of the reviews that...

Lords report stage first day. Amendment 17 disagreed to on division (26 to 119). Amendments 18, 21, 22, 23, 24, 25 and 31 agreed to. (Part 2 of 2).

Lords report stage first day. Amendment 17 disagreed to on division (26 to 119). Amendments 18, 21, 22, 23, 24, 25 and 31 agreed to. (Part 2 of 2).

Lords committee stage third day. Clauses 37 to 61 agreed to. Bill reported with amendments (HL Bill 49).

Lords committee stage third day. Clauses 37 to 61 agreed to. Bill reported with amendments (HL Bill 49).