§ Ms. PrimaroloTo ask the Secretary of State for Trade and Industry what is his Department's latest assessment of the effectiveness of City regulation.
§ Mr. RedwoodRegulation of investment business is for the most part the responsibility of the Securities and Investments Board, which is the designated agency under the Financial Services Act 1986. Other aspects of City activity are regulated under other arrangements. such as 211W the Insurance Companies Act 1982 and the Banking Act 1987. I am generally satisfied with this regulatory structure.