Foulkes Ingram and Co.

HC Deb 17 October 1991 vol 196 c201W

Mr. Alex Carlile

To ask the Secretary of State for Trade and Industry if he will hold an inquiry into the reasons for the Securities and Investments Board making a favourable report following its inquiries into Foulkes Ingram and Co. of Aberystwyth in the period 1988 to 1991; and if he will make a statement.

Mr. Redwood

The conduct of the Securities and Investments Board's inquiries is a matter for the board.

Mr. Alex Carlile

To ask the Secretary of State for Trade and Industry if he will order a public inquiry into the collapse of Foulkes Ingram and Co. of Aberystwyth and the resulting loss by small investors; and if he will make a statement.

Mr. Redwood

I have no plans to order an inquiry. The regulatory authorities took action this year following complaints from investors and I understand the matter is now being investigated by the police.