To ask the Chancellor of the Exchequer what legal advice the Financial Services Authority (a) sought and (b) received on its proposals to require requalification by independent financial advisers; and if he will make a statement. (305117)

As the Financial Services Authority is independent of central Government, I have asked it to respond to the hon. Member directly. I also refer the hon. Member to the answer I gave on 5 November 2009, Official Report, column 1096W.