Treasury - Third Report
Here you can browse the report together with the Proceedings of the Committee. The published report was ordered by the House of Commons to be printed 5 February 2003.
CONTENTS
Terms of Reference
SUMMARY
REPORT
Introduction
A The story of split capital investment trusts
to 2002
Split capital investment trusts (splits)
Expansion of the split sector
The problems in the split capital investment
trust sector
B Were zero shares in splits high or low
risk?
Impact of bank gearing
Increasing cross-investment in other splits
Falling markets and the level of risk
C In what circumstances were zeros sold as
low risk to investors?
Institutional and professional investors
Purchase of zeros on the basis of advice
Future developments and financial redress
D Was there more than just 'mis-selling':
was there improper management?
Collusion and conflicts of interest
The questions to be answered
Reform of corporate governance
E The regulatory response
Is there a 'regulatory gap'?
The FSA response to the problems in the split
sector
Conclusions
LIST OF CONCLUSIONS AND RECOMMENDATIONS
MINUTES OF PROCEEDINGS OF THE COMMITTEE RELATING
TO THE REPORT
LIST OF WITNESSES
LIST OF MEMORANDA INCLUDED IN THE MINUTES
OF EVIDENCE
LIST OF APPENDICES TO THE MINUTES OF EVIDENCE
LIST OF MEMORANDA REPORTED TO THE HOUSE BUT
NOT PRINTED
LIST OF REPORTS PUBLISHED BY THE TREASURY
COMMITTEE
MINUTES OF EVIDENCE - VOLUME II (HC 418-II)
APPENDICES TO THE MINUTES OF EVIDENCE - VOLUME II (HC 418-II)
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