§ Mrs. Peacockasked the Secretary of State for Trade and Industry what action is being undertaken by his Department's investigating officers into allegations of organised insider dealing involving offshore companies on the stock exchange; and if he will make a statement.
§ Mr. HowardThe activities of any Department's investigating officers are limited to persons who are identifiable and willing to assist with inquiries. Clause 147 of the Financial Services Bill proposes greatly to strengthen the powers available for investigating suspected insider dealing. My Department is taking part in discussions aimed at furthering international co-operation between regulatory authorities, which is an important factor in dealing with the abuse to which my hon. Friend alludes.