§ Mr. Colvin
To ask the Chancellor of the Exchequer how many businesses have applied to register with the Personal Investment Authority; and whether individual registration will be permitted.
§ Mr. Nelson
As at 18 July the Personal Investment Authority has received 3,666 applications for membership. The PIA has announced that it will maintain a register of4W member firms, appointed representatives of member firms and individuals appointed by member firms as financial advisers or company representatives. The PIA is considering whether it should enter into a direct contractual relationship with relevant individuals working for member firms.