HC Deb 20 June 1990 vol 174 c588W
39. Mr. Ernie Ross

To ask the Secretary of State for Trade and Industry if he expects to discuss financial regulation at his next meeting with the chairman of the stock exchange.

47. Mr. Rowlands

To ask the Secretary of State for Trade and Industry if he intends to discuss financial regulation at his next meeting with the chairman of the stock exchange.

86. Ms. Short

To ask the Secretary of State for Trade and Industry if he intends to discuss financial regulation at his next meeting with the chairman of the stock exchange.

Mr. Ridley

I meet the chairman of the stock exchange as frequently as necessary for discussion on a range of topics.

114. Mr. Rogers

To ask the Secretary of State for Trade and Industry what is his Department's latest assessment of the effectiveness of City regulation.

Mr. Ridley

Regulation 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 the Insurance Companies Act 1982 and the Banking Act 1987. I am generally satisfied with this regulatory structure. No regulatory system can prevent all fraud and malpractice.

97. Mr. Soley

To ask the Secretary of State for Trade and Industry what representations he has received on the regulation of financial services.

67. Mr. Andrew Smith

To ask the Secretary of State for Trade and Industry what representations he has received on the regulation of financial services.

72. Mr. Snape

To ask the Secretary of State for Trade and Industry what representations he has received on the regulation of financial services.

Mr. Ridley

I receive a considerable number of representations on a variety of topics relating to the regulation of financial services. We consider very carefully those which relate to the scope or the framework of the regulatory system or to the powers under the Financial Services Act which the Government retain. Those which relate to matters which are the responsibility of the SIB or another regulatory authority are passed to the appropriate body.