§ Mr. French
To ask the Secretary of State for Trade and Industry (1) if he will make a statement on Government policy on multi-tied agencies, as outlined by the Securities and Investments Board;
(2) if he will bring forward proposals to modify the rules of best advice, as embodied in the Financial Services Act.
§ Mr. Redwood
The Securities and Investments Board's current retail regulation review includes the present best advice and polarisation regime. The SIB review is at an early stage, but I understand the possibility of multi-tied agencies is one of the issues to be considered.626W
I look forward to there being a lively public debate on retail regulation. I hope that my hon. Friend and others will send their views to the SIB and let me know of their concerns.