§ 47. Mr. Butterfillasked the Secretary of State for Trade and Industry what progress is being made in the establishment of self-regulatory organisations under the Financial Services Act; and if he will make a statement.
§ Mr. HowardIn its application to become a designated agency, the Securities and Investments Board has indicated that, if the power to recognise self-regulating organisations were to be transferred to it, it would expect to receive applications for recognition as a self-regulating organisation from The Securities Association, the Financial Intermediaries, Managers and Brokers Regulatory Association, the Association of Futures Brokers and Dealers Limited, the Investment Management Regulatory Organisation, and the Life Assurance and Unit Trust Regulatory Organisation. Those bodies are currently preparing their applications for recognition.