To ask the Chancellor of the Exchequer for what reasons the Financial Services Authority has required independent financial advisers to requalify; and whether it sought legal advice prior to its decision on that matter. (309979)

The Financial Services Authority has published several consultations detailing and explaining its proposals for reform of distribution of financial products. These are available on its website. I also refer the hon. Member to the answer I gave on 19 October 2009, Official Report, column 1285W.