§ Mr. SteenTo ask the President of the Board of Trade how many self-financing regulatory authorities his Department has set up since 1979; what was the annual running cost of each of the self-financing regulatory authorities in each of the last three years; what is the current staffing establishment; and what it was last year and two years ago.
§ Mr. Eggar[holding answer 16 March 1994]: One: the Securities and Investments Board Ltd., a private-sector body, had regulatory functions transferred to it under the provisions of the Financial Services Act 1986 and in consequence is a self-financing regulatory body. Responsibility for this legislation passed to the Treasury in 1992. The SIB makes an annual report to the Treasury, which places a copy of it in the Library of the House.