§ Mr. Jim CunninghamTo ask the Chancellor of the Exchequer what requirements in respect of the protection of individual consumers will be placed on the Financial Services Authority. [41390]
§ Mr. Darling[holding answer 12 May 1998]: The Government intend that the Financial Services Authority's statutory objectives will include the protection of consumers by ensuring that firms are competent and financially sound and that they give customers confidence in their integrity, while recognising consumers' own responsibility for their financial decisions. Draft statutory objectives will form part of the draft legislation which the Government plan to publish for consultation in the Summer.
§ Mr. Jim CunninghamTo ask the Chancellor of the Exchequer what representations he has received from the National Consumer Council regarding the establishment of the Financial Services Authority. [41391]
§ Mr. Darling[holding answer 12 May 1998]: The Government have received a number of representations from the National Consumer Council covering a number of different matters.