Personal Savings: Regulation

Ms Katy Clark
To ask the Secretary of State for Business, Enterprise and Regulatory Reform what plans his Department has for the further regulation of the operation of Christmas savings clubs.

Mr. Thomas
The Government have already indicated that the possibility of regulation will be considered once the outcome of the Companies Act investigation into Farepak is available. This consideration will also take account of the initial advice delivered by the OFT and FSA in December 2007, and the Thirteenth Report (2006-07) by the Treasury Select Committee.