§ Sir F. Bennettasked the Chancellor of the Exchequer what estimate he has made of the cost to public funds of ascertaining the number of successful prosecutions of currency speculation by United Kingdom citizens on institutions authorised to operate in foreign exchange markets during the last 10 and four years, respectively; and whether without disproportionate cost he will give an approximate estimate of the relevant figures.
§ Mr. Harold LeverNo authorised dealers have ever been prosecuted under the Exchange Control Act in connection with operations in foreign currencies.
§ Sir F. Bennettasked the Chancellor of the Exchequer how many United Kingdom institutions or individuals are currently authorised to operate in foreign exchange markets.
§ Mr. Harold LeverI take the hon. Member to have in mind those who deal in foreign exchange as part of their business. Some 175 banks have been authorised under the Exchange Control Act, 1947 to deal in this way in foreign currencies within prescribed limits.