HC Deb 05 November 1936 vol 317 cc247-8
73. Mr. TOUCHE

asked the President of the Board of Trade whether his attention has been called to the renewed activity of outside brokers; and whether he will consider the introduction of legislation in the course of the present Session for the compulsory registration and control of persons or firms carrying on such business?

Mr. RUNCIMAN

My attention has been called to this matter. I am not, however, in a position to make a statement at present on my hon. Friend's suggestion for legislation.

Mr. R. C. MORRISON

Is the right hon. Gentleman aware that this evil has increased so rapidly of late that the five big banks have issued warnings to all their customers, and in view of that fact will he expedite Government action in regard to this question?

Mr. RUNCIMAN

No time is being lost in dealing with the matter.

Mr. WHITE

Will the right hon. Gentleman look into the possibility of dealing with this matter in some way when dealing with the question of legislation on unit trusts?

Mr. RUNCIMAN

I cannot say how far they are related, and I am not at all sure that they are.

Sir A. M. SAMUEL

Would it not be a remedy to grant a charter to the London Stock Exchange to enable them to control these outside brokers?