Speeches by Yang.

“If you were to take every single consumer in the UK—although of course you do not have personal insight into their minds—do you think all those different groups across income spectrums and different demographics could be shifted to more risk-taking behaviour in their investments, with better education, better advice, b…”

“My colleague, Ms Blake, will go on to discuss the advice guidance boundary review. Before we get to that, is it your overall view that, so long as consumers are given the appropriate guidance and access to good advice, investment behaviour will shift over the long run? Or do you also see that there are groups of low-in…”

“Based on the research that you have done in the past on consumer behaviour, as well as your previous comments, Mr Alder, about investment culture in the UK and the lack of retail investment culture compared to, for example, Hong Kong and other areas, what would the impact of changing the cash ISA arrangements be in ter…”

“Is the reason that you have not yet done an impact assessment of potential cash ISA changes that you do not see them as live proposals, or is there another reason?”

“Yes, that is the case. We have heard such concerns raised throughout history, yet when we look at econometric evidence that looks in hindsight at the actual impact on the economy, we see that there is no discernible impact. I will whizz through a few different studies. In the United States there is David Card and Alan …”

“We have heard how the rise in the national minimum wage will deliver a direct pay increase for over 3 million workers. For the first time in history, the minimum wage in this country is being linked to the true cost of living, beginning the journey of making it a genuine living wage. We can take from history a wealth o…”

“I strongly congratulate the Secretary of State on the £1 billion package of employment support. Many active labour market policies have been shown to have considerable economic impact. Historically, it has been difficult for the Office for National Statistics to score the positive impacts of active policies, as opposed…”

“You mentioned also in your question the dangers of groupthink and discussions around the societal consequences of groupthink for the most vulnerable. We recently had the news that the PRA has decided not to introduce new rules on reporting diversity and inclusion metrics, which is something that this Committee has prev…”

“Whose responsibility is it to do that more than is done today?”

“Right now, would you say that you are happy with the level of consumer voice represented in these regulatory discussions?”

“Do you see some of those concerns still present today in terms of the balance between client-facing regulation and consumer-facing regulation?”

“Professor Moloney, in your questionnaire you mentioned that consumer and household interests were overlooked in much of the financial crisis era financial stability debates. I was wondering whether you could discuss that a bit more. What was overlooked and why do you think that was overlooked?”

“That would be great. Finally, I noticed that you published again the league table on reimbursement rates from banks. There was quite a big range from around 9% to 88% within banks. What was the reception like to that league table from the industry?”

“As an MP who has had constituents come to me with their experiences of APP fraud that have completely changed their lives for the worse, thank you for your work. I hope that the consolidation into the FCA means that that work will continue at full pace as well.”

“You also have that role in incentivising the industry to improve itself. You mentioned in your response to Ms Blake the challenge from the fintech community around the reimbursement cap. I am sure that in many places you will be challenging the industry to improve its practices, sometimes criticising and sometimes impr…”

“Currently, which regulators do you work with most on the root causes of social media APP fraud?”

“Yes, exactly. I would love to ask Mr Geale what more you think can be done for those platforms. Which regulators do you think that belongs to, given the large number of regulators in the advertising and social media enforcement space?”

“Ms Walsh, I noticed that you smiled in response to that.”

“So for example Facebook would eventually pay for frauds originating on Facebook?”

“In terms of the kinds of people who report online fraud, I noticed that there was a remark in your report about younger people reporting it more. I was wondering whether you had more demographic data about the victims of fraud that you are planning to publish.”