§ Mr. DarlingTo ask the President of the Board of Trade if he will ask the Securities and Investments Board to publish guidelines on the investment of life assurance funds, with particular reference to investment of such funds in wholly owned subsidiaries of such institutions.
§ Mr. Neil HamiltonThe responsibilities of the SIB in relation to life insurance under the Financial Services Act relate primarily to marketing and the provision of advice to clients.
The Secretary of State for Trade and Industry has powers relating to the maintenance of adequate solvency in 453W insurance companies. The regulations do not generally seek to limit the investments an insurance company may make, but may restrict the extent to which they are admissible as part of the required solvency margin.