§ Mr. TimmsTo ask the Chancellor of the Exchequer if he will make a statement about the future of(a) the Building Societies Commission, (b) the Friendly Societies Commission and (c) the Registry of Friendly Societies. [10553]
§ Mr. WatersonTo ask the Chancellor of the Exchequer what plans he has to review the structure, powers and scope of operation of the Securities and Investments Board; and if he will make a statement. [9693]
§ Mrs. LiddellMy right hon. Friend, the Chancellor of the Exchequer announced on 20 May,Official Report, columns 508–11, that the Government will be bringing forward legislation to reform the structure of financial regulation and to create a single enhanced financial services regulatory body. The legislation to establish this regulatory body will provide for the transfer to the new body of all the functions currently carried out by the Building Societies Commission, the Friendly Societies Commission, and the central office of the Registry of Friendly Societies. These arrangements will further enhance the existing high standards of supervision and regulation in this area by integrating it with the regulation of all financial sectors, including banking, insurance, and other financial services.