So to the Government Supplementary Order Paper: following feedback from public consultation on two discussion documents, I am tabling a Supplementary Order Paper—an SOP, as they are commonly known in this House. The amendments in the SOP will make sure the bill works across different types of financial institutions and business models. So as far as intermediaries are concerned, the bill—as drafted—included prescriptive requirements on financial institutions to closely train and manage or supervise intermediaries. Industry have raised what I consider to be reasonable concerns that these requirements are too detailed, capture too many intermediaries, and may overlap with the new regulatory regime for financial advice. So to ensure the bill works across different types of financial institutions and business models, I propose the bill take a more principles-based approach, rather than prescribing requirements in detail. This will ensure the new regime enables financial institutions to design processes which best fit their own business models while still upholding a high standard of conduct. 