HC Deb 16 November 1926 vol 199 cc1655-6

asked the President of the Board of Trade whether he is aware that bogus share pushers, which were the subject of inquiry by his Departmental Committee, are again becoming active; and will be consider what steps he can take to restrict their activities?

The PRESIDENT of the BOARD of TRADE (Sir Philip Cunliffe-Lister)

I have seen certain references to this matter in the Press. As already stated, I hope it may be possible to introduce next year a Bill based on the recommendations of the Committee. I would also refer my hon. Friend to the answer given by the Home Secretary to the hon. and gallant Member for Norwich, on the 24th June last, of which I am sending him a copy.


Will the right hon. Gentleman use the influence of his high office to issue a warning to the unsuspecting public to treat with suspicion all unsolicited advances, whether by post in personal visit, as to the investment or re-investment of securities?


No, Sir. I do not think it would be possible for the Department to set up a precedent of that kind. The House is very jealous about the Department not going outside the powers conferred upon it; but I am quite clear that we ought to have powers in regard to this matter. Therefore, I propose to introduce a Bill next year. All the advice that can be given, through the medium of the Press and so on, where there is likely to be improper touting, is very desirable.


When the right hon. Gentleman refers to the report of a Committee, is he referring to a report which he is expecting, or to a report already received?


To the report already received.