§ Mr. Anthony Grantasked the Secretary of State for Trade what further action he intends to take to deal with the problem of dawn raids.
§ Mr. NottThe regulation of the stock market lies in the hands of the Stock Exchange Council. I am glad to say that the proposals made by the CSI in conjunction with the Stock Exchange Council for handling the problem of dawn raids are constructive and sensible. I was concerned at the situation that arose following the Consolidated Goldfields affair in August this year, but subsequent action by the City's self-regulatory authorities has indicated the great value of a self-regulatory system. The Department of Trade has already publicised its proposals for changes in legislation and careful consideration is now being given to the incorporation of some of these proposals in the Companies Bill, which will be presented to Parliament later this Session.