§ Mr. WarrenTo ask the Chancellor of the Duchy of Lancaster if he will make a statement on progress in the establishment of the self-regulating organisations to be established under the Financial Services Act.
§ Mr. MaudeThe Securities and Investments Board has now recognised three self-regulating organisations under the Financial Services Act 1986. These are the Financial Intermediaries, Managers and Brokers Regulatory Association (recognised on 14 December 1987), the Association of Futures Brokers and Dealers (recognised on 13 January 1988) and the Investment Management Regulatory Association (recognised on 27 January 1988). Two other self-regulating organisations, the Securities Association and the Life Assurance and Unit Trust Regulatory Organisation, have applied to the board for recognition. These applications are still being considered.