HC Deb 07 July 1937 vol 326 cc345-6
44. Mr. Leach

asked the President of the Board of Trade whether, in view of the strong recommendation in favour of members of the Stock Exchange which is contained in the Board of Trade warning circular dated April, 1937, he will take steps to ensure that reputable brokers who desire to join the Stock Exchange shall not be debarred from doing so for reasons not affecting their qualifications and financial standing?

The Parliamentary Secretary to the Board of Trade (Captain Euan Wallace)

The London and other stock exchanges are voluntary associations, and their conditions of membership are domestic matters over which the Government have no control.

Mr. Leach

Is the hon. and gallant Member aware that these private clubs —for they are not more—can bar legitimate applicants from membership, thereby very seriously interfering with their status in the financial markets, and should not something be done about it?