§ Mr. CousinsTo ask the Secretary of State for Trade and Industry what regulations exist to ensure capital adequacy, creditworthiness and sound financial reporting by sellers of insurance not covered by the Investment Brokers Act 1977.
§ Mr. RedwoodAs regards insurance intermediaries not registered under the Insurance Brokers Registration Act, those selling insurance which comprises an investment product are regulated under the Financial Services Act regime, and those selling general insurance come under the Association of British Insurers' code of practice for non-registered general insurance intermediaries.