§ Mr. McCrindleasked the Secretary of State for Trade and Industry what representations he has received from banks and building societies about their inclusion in the concept of polarisation as defined in the Financial Services Act in relation to the sale of insurance and related products; and what discussions he has had with the Securities and Investment Board on this matter.
§ Mr. HowardI have received a copy of the paper the British Bankers Association has sent the Director General of Fair Trading expressing the banks' concerns on this subject. I have also received representations from others supporting polarisation and am considering the matter. I have had no discussions with the Securities and Investments Board on this subject since the Financial Services Act was passed.