In relation to two recent articles on investor protection, Mr Tom Healy, chief executive of the Stock Exchange, has asked us to point out that the exchange is active in protecting investors in a number of areas. These include the rules covering share dealing and which ensure that companies provide detailed information of their activities to investors. The exchange acts to protect those directly investing in the market, including both private individuals and fund managers. But it is not responsible for protecting investors who put their money into the care of fund managers in relation to their dealings with those managing their funds.