§ Mr. DarlingTo ask the Chancellor of the Exchequer (1) when the Securities and Investments Board decided to review cases where personal pensions may have been mis-sold under the Financial Services Act 1986; how many cases are involved; and if he will make a statement;
(2) what steps the Securities and Investments Board proposes to take to ensure that any individual who was wrongly persuaded to buy a personal pension in contravention of the Securities and Investments Board rules and regulations is compensated in full.
§ Mr. NelsonI refer the hon. Member to the answer I gave on 8 December 1993 at column 234.
§ Mr. DarlingTo ask the Chancellor of the Exchequer (1) if the Securities and Investments Board will publish details of its survey of the sale of personal pensions; and in how many cases the Securities and Investments Board believes that there was prima facie evidence of mis-selling;
(2) if he will ask the Securities and Investments Board to publish the results of its examination of cases where personal pensions may have been mis-sold.
§ Mr. NelsonThe Securities and Investments Board will publish the results of its independent pilot study of pension transfers before Christmas. SIB is co-ordinating a full-scale study to establish the extent of mis-selling.