HL Deb 26 February 1987 vol 485 c429WA
Lord Mottistone

asked Her Majesty's Government:

What progress has been made towards the transfer of powers under the Financial Services Act 1986 to a designated agency.

Lord Lucas of Chilworth

As announced on 10th February in another place by my honourable friend the Parliamentary Under-Secretary of State for Corporate and Consumer Affairs, the Securities and Investments Board has submitted to the Secretary of State copies of the rules the board would propose to make if it becomes a designated agency under the Act. Comments on these proposed rules should be sent to the Department of Trade and Industry by the end of the month.