§ Mr. Page
To ask the Chancellor of the Duchy of Lancaster whether he will make a statement on the position of the Insurance Brokers Registration Council as a recognised professional body under the Financial Services Act.
§ Mr. Maude
Recognition of professional bodies under the Financial Services Act is a matter for the Securities and Investments Board. In January the board made an interim recognition order in respect of the council pending the making and coming into effect of the council's new rules on investment business. An order approving the Insurance Brokers Registration Council (Conduct of Investment Business) Rules 1988 has been laid before Parliament and copies of the rules have been placed in the Library. The order and with it the rules will come into effect on 21 June 1988.