§ Mr. Dykes
asked the Secretary of State for Trade and Industry if he will make a statement about the regulation of individuals under the Financial Services Bill.
§ Mr. Howard
I have received from the Marketing of Investment Board organising committee and the Securities and Investment Board a joint proposal that the Financial Services Bill should be amended so as to provide additional powers to maintain a comprehensive register of individuals employed in investment businesses, in order to allow for the registration of all those involved in selling life assurance and unit trusts. The board and the committee have today published their joint proposal and I would very much welcome within the next month the views of interested parties on its proposals. At this stage, I would hope that such representations would concentrate on the proposal to provide additional powers under the Bill, rather than on the details of the particular registration scheme outlined in the proposal.