Financial services

This page highlights some of the current parliamentary material available on financial services. This includes select committee reports, briefing papers on current legislation and other subjects produced by the parliamentary research services, and the latest Early Day Motions put down by MPs. For information on banks and other institutions, see financial institutions.

Standard Notes

DateDescription
31.10.2014Household Debt
Household debt: Data on the latest household debt statistics, including net lending, mortgage interest rates and insolvencies.
28.07.2014Riot Damages Act Reform
Home Office consultation on reform of the Riot Damages Act. This note explains some of the background.
28.07.2014Insurance Contract Law Bill
New Law Commission proposals to modernise aspects of existing insurance law.
15.07.2014High cost consumer credit
This note outlines issues about high cost credit lending and attempts to reform it. It looks at evidence from various academic research and other reports into the impact of the sector on individuals both here and abroad. It also looks at the opportunities for other lenders to enter the market and to offer more competition to the current market leaders. A section at the end of the paper looks at the implications and justifications for the cost of credit cap proposals published by the Financial Conduct Authority in July 2014.
24.06.2014Green Investment Bank
The Government has announced the creation of a Green Investment Bank to stimulate investment in green technologie. This note includes details of its role and its location.

Research Papers

DateDescription
17.10.2013Immigration Bill
The Immigration Bill would significantly reduce migrants' rights of appeal; restrict access to services including private rented accommodation, bank accounts and NHS services by reference to immigration status; establish new arrangements for investigating sham marriages and examining persons departing the UK; and make various other changes related to immigration controls.
10.07.2013High Cost Credit Bill
This is a Private Members Bill introduced by Paul Blomfield.
25.06.2013Financial Services (Banking Reform) Bill: Committee Stage Report
This Bill follows a series of Acts passed since the financial crisis of 2008. Whereas other Acts established a new regulatory framework, this Bill sets out a new 'architecture' of the institutions themselves.
28.02.2013Financial Services (Banking Reform) Bill
This, latest, financial services reform legislation brings together the final proposals for how the banking sector will look going forward.
03.10.2012Enterprise and Regulatory Reform Bill: Committee Stage Report
This is a report on the Public Bill Committee Stage of the Enterprise and Regulatory Reform Bill. It is designed to complement the Research Paper Enterprise and Regulatory Reform Bill (RP 12/33), which covers in more detail the background to the Bill

Select Committee Reports

DateDescription
27.03.2012Towards a financial transaction tax? European Union Select Committee (HL) twenty-ninth report.
European Union Select Committee (HL) report [Lords]
27.02.2012Financial Conduct Authority: report on the Government response.
Government response. Treasury Select Committee report [Commons]
27.01.2012A new approach to financial regulation: securing stability, protecting consumers, including Annexes containing...
Government response. Treasury report [Commons]
09.11.2011Future of cheques.
Government response. Treasury Select Committee; Treasury; Payments Council report [Commons]
18.07.2011Future of cheques.
Treasury Select Committee report [Commons]

Early Day Motions

DateDescription
14.12.2011FINANCIAL TRANSACTION TAX (No. 3)
That this House notes that the European Commission is desperate to save the Euro and is proposing a tax on financial transactions that would raise 50 billion a year; further notes that ...
05.12.2011BRISTOL AND WEST BOND-HOLDERS
That this House notes that English investors who took out Bristol andWest permanent interest-bearing shares did so inthe belief that these shares wouldbe treated underEnglish law; regrets ...
30.11.2011MINIMUM STANDARDS FOR FINANCIAL PRODUCTS
That this House welcomes the product intervention powers proposed in the draft Financial Services Bill, which will allow the Financial Conduct Authority to remove financial products ...
29.11.2011FAREPAK COMPENSATION
That this House regrets that the victims of the failed Christmas hamper and savings company Farepak have not yet received compensation following the company's liquidation in October ...
21.11.2011LEVEL OF INTEREST RATES ON LOANS
That this House notes that wonga.com is currently advertising a typical interest rate of 4214 per cent. and that this is not the only institution offering a similar service; further ...

Lords Library Notes

DateDescription
15.08.2014The Impact of Personal Indebtedness in United Kingdom Households, Especially on Children
This Library Note was prepared for a debate in the House of Lords on the impact of personal indebtedness in UK households, especially on children, which was scheduled to take place on 17 July 2014, but was postponed to a future date.
06.02.2014Immigration Bill (HL Bill 84 of 2013-14)
This Library Note provides information on the Immigration Bill, which is due for second reading in the House of Lords on 10 February 2014.
19.07.2013Financial Services (Banking Reform) Bill
The Financial Services (Banking Reform) Bill seeks to make a number of changes to the banking and financial services sector. The Bill builds on the recommendations of the Independent Commission on Banking (the Vickers Commission) and the Parliamentary Commission on Banking Standards and follows a series of Acts passed since the financial crisis of 2008, such as the Financial Services Act 2012.
09.11.2012Enterprise and Regulatory Reform Bill (HL Bill 45 of 2012-13)
The Enterprise and Regulatory Reform Bill includes measures for changes to competition policy, to employment law, and for reducing regulation, as well as provisions on the Green Investment Bank, directors' remuneration, copyright and planning. This Library Note provides background reading in advance of the Bill's second reading in the House of Lords.

POST Papers

DateDescription
15.07.2014Big Data and Business
POSTnote exploring how big data is being used by UK companies and the challenges and opportunities it presents.

Glossary

  • Research Papers (RP) - briefings produced by the House of Commons Library on Bills, topical issues and regular statistics
  • Standard Notes (SN) - shorter, topical briefings from the Commons Library
  • Early Day Motions (EDMs) - formal motions submitted by MPs in the House of Commons
  • POST Notes - short briefing notes produced by the Parliamentary Office of Science and Technology
  • Lords Library Notes (LLN) - papers compiled by the House of Lords Library on Bills and for debates in the Lords
  • Select Committee Reports - papers produced by all select committees of both Houses