§ Mr. BowisTo ask the Secretary of State for Trade and Industry if he will review the workings of the self-regulatory status granted to Lloyd's under the Financial Services Act 1986 in the light of the actions of and the internal inquiries into the syndicates managed by Outhwaite, Oakley Vaughan, Warnlow and Feltrim.
§ Mr. RedwoodThe committee of inquiry into regulatory arrangements at Lloyd's, whose report was published in 1987 (Cm. 59), considered the position of Lloyd's with respect to the Financial Services Act. Its recommendations have been implemented, and are designed to improve accountability of syndicates to names.