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Treasury

Answer

Mr. Caton: To ask the Chancellor of the Exchequer (1) if he will bring investment trusts fully into the regulation regime of the Financial Services Authority; [132992] (2) if he will accept the recommendation of the Treasury Committee to bring investment trusts directly within the scope of investment product regulation by the Financial Services Authority. [132993] Ruth Kelly: :In its response to the Treasury Committee (published in the Committee's Fourth Special Report of Session 2002-03, HC651) the Treasury said: `The Treasury welcomes the proposals put forward by the FSA in CP164 and believe that, when implemented, these will effectively tackle the issues which arose directly from split capital investment trusts. However, we accept that there may be a case for bringing investment trusts fully within regulation by the FSA. There are a number of ways in which this could be done and it is by no means clear which, if any, might be the most appropriate. The Treasury will, therefore, in conjunction with the FSA consider the available options for doing so and will, in due course, consult fully on these.' This remains the Treasury's position.

Secondary information

Type

Written question

Reference

411 c482W;411 c486W; 132992;132993

Session

2002-03

Subjects

Capital investment Financial Services Authority Investment trusts Regulation Trusts

Link

View this Written question on www.publications.parliament.uk