§ 58. Mr. ButterfillTo ask the Chancellor of the Duchy of Lancaster whether he has received the new Securities and Investment Board disclosure rules relating to the sale of life assurance policies; and if he will make a statement.
§ Mr. NewtonThe Securities and Investments Board has not published any new disclosure rules relating to the sale of life assurance policies. I have, however, received a copy of the consultative document "Life Assurance and Unit Trust Disclosure: the regime for 1990" published by the SIB on 14 December 1988. It will be for the SIB to draw up rules in the light of this consultation. Any such rules will be subject in the usual way to the competitive scrutiny by the Director General of Fair Trading and the Secretary of State provided by the Financial Services Act.