§ Dame Judith Hart
asked the Secretary of State for Trade and Industry if he will take steps to extend from 28 February the deadline for comments by small businesses on the Securities and Investments Board rules governing FIMBRA under the Financial Services Act which were published on 12 February; and if he will make a statement.
§ Mr. Howard
No. The proposed rules submitted to my right hon. Friend on 10 February by the Securities and Investments Board reflected the results of consultation on earlier drafts published by the board and therefore I do not believe that it is necessary to extend the deadline for comments. All comments made before the deadline to the Department about the proposed rules will be fully considered in deciding whether to recommend to Parliament the transfer to the board of powers under the Financial Services Act 1986.