§ Mr. GardinerTo ask the Chancellor of the Exchequer if he will change the reporting obligations of appointed actuaries of insurance companies so that all material changes in the financial position of a company must be notified to the Financial Services Authority in between annual reporting dates. [7061]
§ Ruth KellySections 342 and 343 of the Financial Services and Markets Act 2000 provide HM Treasury with powers to make regulations specifying the circumstances in which appointed actuaries of insurance companies must make a report to the Financial Services Authority. The Treasury intends to make such regulations, but before doing so it wants to give interested parties an opportunity to comment on its proposals. These proposals are set out in a consultation document which will be published by HM Treasury in the near future.