§ Mr. Tim SmithTo ask the Chancellor of the Duchy of Lancaster what information he has about the applications of(a) Harvard Securities plc and (b) LHW Futures Ltd., for authorisation under the Financial Services Act.
§ Mr. MaudeI understand that Harvard Securities plc has applied for membership of The Securities Association and for authorisation under section 25 of the Financial Services Act from the Securities and Investments Board. Both applications are currently being considered and meanwhile the company holds interim authorisation by virtue of paragraph 1(1) of schedule 15 to the Act.
LHW Futures Ltd. has applied for membership of the Association of Futures Brokers and Dealers. That application is currently being considered and the company therefore also holds interim authorisation.
Applications for membership of a self-regulating organisation recognised under the Act or for authorisation under section 25 are matters for the organisation concerned and the SIB respectively.