§ Mr. FraserTo ask the Secretary of State for Trade and Industry if he will make proposals to amend the law to ensure that tied agents of insurance policies disclose their commissions.
§ Mr. RedwoodNo. Tied agents are not providing independent advice on behalf of a client, but are acting as the agent of the company they represent. The Securities and Investments Board has produced further proposals for disclosure of the status of the intermediary and disclosure of expenses in sales of life assurance and unit trusts.