§ Mr. David NicholsonTo ask the Chancellor of the Exchequer what representations he has received since 1 January 1995, regarding alleged mis-selling of endowment mortgages; what(a) investigations and (b) studies he has commissioned on the subject; and what discussions he has had on this issue with the Securities and Investments Board. [2631]
§ Mrs Angela KnightThe Treasury has on a number of occasions received representations about concerns that mortgage advice may be unduly influenced by the commissions available, including suggestion from the Consumers Association for further regulation. New disclosure rules introduced in January 1995 have the effect that commissions on endowment policies must be disclosed to potential clients. The Treasury has not commissioned any investigations or studies on the subject. Discussions with the Securities and Investments Board take place from time to time at ministerial and official level on all issues of regulatory concern.