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Volume 113: debated on Wednesday 25 March 1987

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asked the Secretary of State for Trade and Industry when he expects to receive a report from the Director General of Fair Trading on the principle of polarisation in connection with the sale of life assurance and similar investments.

My right hon. friend the Secretary of State received on 23 March the Director General's report on the effect on competition of the proposed rules, regulations, guidance and arrangements of the Securities and Investments Board, including the rules which provicle for the polarisation of life insurance and unit trust intermediaries. A copy has been placed in the Library. My right hon. Friend the Secretary of State will consider the report in forming a judgment on whether SIB satisfies the criteria for the transfer of functions to it under the Financial Services Act, 1986.