§ Mr. Shersbyasked the Secretary of State for Trade and Industry what information he has as to progress in establishing the Association of Futures Brokers and Dealers; and what role he envisages for this body, in the context of his investor protection policy, in relation to the regulation of the terminal coffee market.
§ Mr. FletcherI welcome the progress made in establishing the Association of Futures Brokers and Dealers, which I hope will become operational as soon as 89W possible. The White Paper, "Financial Services in the United Kingdom" envisages that recognised self-regulatory organisations will have a major role in regulating investment business under the proposed new regulatory regime. The AFBD will be eligible for recognition if its rules and practices provide an adequate level of investor protection.