§ 41. Mr. T. WILLIAMSasked the Attorney-General whether, seeing that he has no power to take action against any 357 firm of stockbrokers who have consistently advised clients to invest in Swedish match shares and other undertakings managed by the Kreuger group, he is considering asking Parliament to provide him with power to take action in such cases?
§ The SOLICITOR-GENERAL (Sir Boyd Merriman)My right hon. Friend has ample power to take action in cases where there is evidence that any person in tendering such advice has done so with intent to defraud; but no evidence has been brought to his attention that dealers in these shares have been guilty of this offence, or that they had the slightest knowledge of facts recently revealed as a result of the inquiry into the affairs of this group of Companies.
§ Mr. WILLIAMSWhile there is no imputation of dishonesty, circumstances frequently prove that hundreds of innocent people fall victims to these methods of selling and buying shares, and does not the hon. and learned Gentleman think the Government ought to take steps to ensure a better guarantee to investors than there is at the moment?
§ The SOLICITOR - GENERALThe whole question is dependent upon whether those who have sold shares have committed an offence against the law of the country. If they have they can be dealt with, but otherwise my right hon. and learned Friend has no power.
§ Mr. WILLIAMSWhile I recognise the hon. and learned Gentleman's difficulty may I ask him—
§ Mr. SPEAKERWe have had this question put several times before.