§ Ms. MowlamTo ask the Secretary of State for Trade and Industry if he will meet the chairman of FIMBRA to discuss the introduction of systematic investigations for its larger members in the light of the Levitt group collapse.
§ Mr. RedwoodI meet the chairmen of the self-regulating organisations under the Financial Services Act, including FIMBRA, from time to time to discuss a range of regulatory issues.
§ Ms. MowlamTo ask the Secretary of State for Trade and Industry if he will take steps to ensure that more thorough procedures in relation to capital adequacy will in future prevent the occurrence of further cases similar to the Levitt Group collapse.
§ Mr. RedwoodRules and procedures relating to the capital adequacy of persons carrying on investment business are a matter for the Securities and Investments Board and the regulatory bodies recognised under the Financial Services Act.