Speeches by Grady.

“How often do you review your security systems, information security systems, and processes?”

“How about external validation? How often do you externally validate your processes, systems and everything else?”

“I am glad to hear you take it seriously, but my question was: are they as good as possible to prevent wrongful disclosure, and are you confident about that?”

“Are they professional auditors in IT security?”

“Mr Smart, I fear that this could be a long morning for you. The FCA published a cross-firm review of efforts to combat romance fraud. I have two questions. I will ask one at a time. The first one is about what the most common forms of APP fraud are now. Is romance fraud a growing one?”

“On the back of a Budget that tackled inflation by reducing it slightly, do you think there is more for Government to do in thinking about the impact of their policies on inflation, Governor?”

“Governor, people who work with the Bank or at the Bank have access to highly sensitive information that could be misused and wrongfully disclosed. Against that background, are you confident that the Bank’s systems and processes are as good as possible to prevent the wrongful disclosure of sensitive Bank information?”

“Does my right hon. Friend agree that the essential truth is that the Government have introduced a package of measures to make the poorest families in Glasgow and across the United Kingdom better off, whereas the Conservatives propose plunging those families back into extreme poverty? They left us with ridiculous levels…”

“For those lead cases, Mr Dipple-Johnstone, if I came along in a year’s time and you are all sat here having dealt with some of them, I would be able to ask how much time your staff spent considering the consumer’s complaint and be able to see, for instance, the average number of hours spent and the seniority, so that I…”

“I may be going over old ground, so apologies, but I just want to come back briefly to this lead redress process and follow up on Mr Dean’s questions. I am looking at the flowchart in your consultation from July. The stage 3 investigation says, “Both parties to the complaint will be given the opportunity to contribute t…”

“Presumably, lower-value cases take up as much time as higher-value cases.”

“My final question or set of questions is on the cut in the interest rate from 8% to Bank base rate plus 1%. How are you going to monitor whether this leads to firms delaying resolving cases because the cost of them is lower, if they do not have to pay the 8% but base plus 1%?”

“It is my right. If I do make a complaint to the FOS and I can show that I have had to put something on my credit card because of my own individual circumstances, I will be able to get that higher rate because that is part of my loss.”

“In terms of the metrics, you have seen this drop-off. What is the sense of the FOS—again, this is maybe for Mr Dipple-Johnstone—as to whether you are seeing less meritorious complaints fall away and better evidenced complaints forming a larger proportion or a reduction in poorer complaints? What is the mix? What is you…”

“Mr Coleman, as chair, the exam question here is actually quite simple. Are we confident that this change is not shutting off vulnerable people from the FOS? That is something you need to study in this impact assessment. Are you confident that the impact assessment itself or work in preparation of that will give us a ro…”

“What discussions do you have with claims management companies about case management and so on? You get feedback from the individual users. What feedback are they giving you?”

“I want to move on a separate but related topic, which is your funding model. You are talking about differentiated fees from April 2027. There are various ways that you can do that, such as by stage or complexity. Are you able to shed any light on which direction we are going on that?”

“Is that price point related to the value of a claim or something else? Is it just the overall price point?”

“If I am making a complaint to the FOS—I am not; do not worry.”

“How have you tested that understanding?”