§ Ms. MowlamTo ask the Secretary of State for Trade and Industry what conclusions he has drawn about the quality of the flow of information between regulators and his Department in the light of the failure of Dunsdale Securities.
§ Mr. Redwood[holding answer 12 July 1990]: Since the Securities and Investments Board and the self-regulating organisations took over responsibility for the regulation of investment businesses on 29 April 1988, there has been no requirement for them to keep the Department informed of their day-to-day dealings with particular firms. In cases where significant problems emerge, the regulators directly concerned of course keep my Department in close touch with developments, as has happened over Dunsdale Securities since 6 June 1990.