§ Mr. Frank FieldTo ask the Chancellor of the Exchequer what proposals he has to require the Investment Management Regulatory Organisation to withdraw recognition of membership from those pension funds whose ultimate control lies outside the jurisdiction of Great Britain.
§ Mr. Nelson[holding answer 14 July 1992]: This is a matter for the Securities and Investments Board (SIB) and the Investment Management Regulatory Organisation (IMRO). I understand that SRO members, the control of which lies outside the United Kingdom, are subject to detailed fitness and properness checks and monitoring of their United Kingdom operations, as with any other member.