§ Mr. Teddy TaylorTo ask the Chancellor of the Duchy of Lancaster if he will outline the nature of the proposals relating to the operation in the United Kingdom of home country authorised investment firms and financial intermediaries in the investment services directive; when the directive will be considered by the Council of Ministers; and if it will fall to be considered by majority vote in the Council.
§ Mr. MaudeThe European Commission is still preparing its proposal for a directive on investment services for consideration by the Council of Ministers.
§ Mr. Teddy TaylorTo ask the Chancellor of the Duchy of Lancaster if he has consulted the Securities and Investments Board and the FIMBRA organisation about the implications of the investment services directive; and if he will make a statement.
§ Mr. MaudeMy Department is in regular contact with the Securities and Investments Board and FIMBRA on the range of matters of concern to them and will consult them on the investment services directive when a proposal has been presented to the Council of Ministers by the European Commission.