§ Mr. Allan Stewartasked the Secretary of State for Scotland what information he has as to the number of independent intermediaries in the financial services sector in Scotland.
§ Mr. LangThe latest available information on the number of financial intermediaries in Scotland is derived from the census of employment 1981 which identified 452 work units in activities auxiliary to banking, insurance and finance.
§ Mr. Allan Stewartasked the Secretary of State for Scotland if he will make a statement on the consequences for employment in Scotland of the Securities and Investment Board's proposals in relation to independent intermediaries.
§ Mr. LangIt is not possible at this stage to predict the effect on employment of the Securities and Investments Board's proposals. The position of independent intermediaries will be one of the matters to be taken into account by my right hon. Friend the Secretary of State for Trade and Industry in deciding whether to recommend to Parliament the transfer to the board of powers under the Financial Services Act 1986.