Nicholas Soames: To ask the Chancellor of the Exchequer (1) what representations he has made to the Financial Stability Board on exchange traded funds; [55134]

(2) what assessment he has made of the adequacy of the regulatory framework in the London markets in respect of exchange traded funds. [55135]

Mr Hoban MP; Financial Secretary to the Treasury: The Government are aware of the recent developments in the Exchange Traded Funds industry and is working closely with the FSA and Bank of England to analyse the risks associated with these products.

The Financial Stability Board has carried out analysis of the exchange traded funds market at the request of its members. The UK is a member of the Financial Stability Board and is supportive of further analysis in this area.