HC Deb 23 May 1991 vol 191 cc625-6W
Mr. French

To ask the Secretary of State for Trade and Industry (1) if he will make a statement on Government policy on multi-tied agencies, as outlined by the Securities and Investments Board;

(2) if he will bring forward proposals to modify the rules of best advice, as embodied in the Financial Services Act.

Mr. Redwood

The Securities and Investments Board's current retail regulation review includes the present best advice and polarisation regime. The SIB review is at an early stage, but I understand the possibility of multi-tied agencies is one of the issues to be considered.

I look forward to there being a lively public debate on retail regulation. I hope that my hon. Friend and others will send their views to the SIB and let me know of their concerns.