§ Mr. Gareth WardellTo ask the Secretary of State for Trade and Industry what steps have been taken to ensure that the Financial Services Act is being operated to the benefit of the investor.
§ Mr. Roy HughesTo ask the Secretary of State for Trade and Industry what steps have been taken to ensure that the Financial Services Act is being operated to the benefit of the investor.
§ Mr. RedwoodI believe that the Financial Services Act has already brought benefits for investors, not least the SIB compensation scheme. However, investors also benefit financially when regulation of the firms with which they deal is least burdensome, and the amendments introduced in the new Companies Act should make the system of investor protection more flexible and cost-effective.