Written question asked by Jackie Lawrence (Labour) on Monday, 22 February 1999, in the House of Commons. It was due for an answer on Tuesday, 23 February 1999. It was answered by Patricia Hewitt (Labour) on Tuesday, 23 February 1999 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, if United States investment exchanges have applied to be recognised over the past year as overseas investment exchanges in the United Kingdom under sections 37 and 40 of the Financial Services Act 1986.

Answer: Ms Lawrence: To ask the Chancellor of the Exchequer if United States investment exchanges have applied to be recognised over the past year as overseas investment exchanges in the United Kingdom under sections 37 and 40 of the Financial Services Act 1986. [72996] Ms Hewitt: The Cantor Financial Futures Exchange (CFFE) applied for recognition in September 1998 and, with effect from today, has been granted recognition as an Overseas Investment Exchange, having satisfied the conditions under sections 37 and 40 of the Financial Services Act 1986. CFFE is therefore able to carry out investment business in the UK.

Secondary information

Type: Written question
Reference: 326 c242W; 72996
Session: 1998-99
Subjects: Financial services Overseas investment USA Foreign investment in UK Exchange control