Early day motion tabled by primary sponsor Lord Darling of Roulanish (Labour), on Wednesday, 20 July 1994, in the House of Commons. It is signed by 12 members in total.

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INTEGRITY OF THE PERSONAL INVESTMENT AUTHORITY

That this House applauds the integrity of Mr Ken Bignal, Chairman of Barclays Life, who resigned from the Board of the Personal Investment Authority following the reprimand on his company by the Securities and Investment Board; notes that Mr Joe Palmer, Chairman of the Personal Investment Authority, who held a similar position at Legal and General when regulatory breaches led to record fines being imposed on it, has so far continued to hold on to his post; believes that if the Personal Investment Authority is to have any chance of commanding public confidence then its chairmen must be seen to be beyond reproach; invites the Securities and Investment Board and the Personal Investment Authority and Mr Palmer to further consider his position; and further restates its belief that self regulation cannot command public confidence and must be ended.

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Secondary information

Type

Early day motion

Reference

1557 

Session

1993-94

Subjects

Financial services Self-regulation Personal Investment Authority Legal & General

Link

View this Early day motion on www.parliament.uk