§ Mr. Richard Page
To ask the Chancellor of the Duchy of Lancaster if a decision has been reached on whether to give leave for the recognition under the Financial Services Act of the Securities Association.
§ Mr. Maude
In accordance with the procedures laid down in the Financial Services Act, the Director General of Fair Trading has submitted to my right hon. and noble Friend a report on the rules and guidance submitted by TSA to the SIB. Having considered the Director General's report, my right hon. and noble Friend has concluded that on the basis of the information presently available to him he does not consider TSA's rules and guidance have, or are intended or are likely to have, to any significant extent, the effect of restricting, distorting or preventing competition. He has, therefore, today given his leave to the SIB for the recognition of TSA.