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Volume 173: debated on Thursday 24 May 1990

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To ask the Secretary of State for Trade and Industry what representations he has made to the Commodity Futures Trading Commission following the Transnor case; and if he will make a statement.

[holding answer 23 May 1990]: My Department wrote to the Commodity Futures Trading Commission (CFTC) on 30 April about the implications of the interlocutory judgment in the "Transnor" case given on 18 April by the United States district court for the southern circuit of New York. Since then the Department has had detailed discussions with the CFTC, culminating in a joint statement issued in London and Washington on 16 May. I have arranged for copies of the letter and statement to be placed in the Libraries of both Houses.