The new framework for investor protection: CMND 9432

Paul Draper

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Abstract

Worried by the prospect of as yet undiscovered frauds and the siphoning off of millions from the pockets of the public to those of some crooked tycoon, the Government has in its recent White Paper (Cmnd 9432) introduced new proposals for the regulation of investment business. The new proposals are designed to provide the public with additional safeguards that prevent fraud malpractice. To this end, a statutory framework is proposed within which two self-regulatory bodies function with the aim of encouraging "the commitment of individuals in the financial services industry to high standards". The Securities and Investment Board is responsible for the regulation of
securities and investments, and the Marketing of Investments Board for the regulation of marketing of pre-packaged investments.
Original languageEnglish
Pages (from-to)64-67
Number of pages4
JournalQuarterly Economic Commentary
Volume10
Issue number3
Publication statusPublished - Feb 1985

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Keywords

  • investor protection
  • CMND 9432
  • financial legislation
  • company securities
  • unit trusts
  • life assurance

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