§ Mr. Austin MitchellTo ask the Attorney-General whether there are any current prosecutions of accountants for the creation of a false market in shares.
§ The Attorney-GeneralI have taken the hon. Member's question to refer to the statutory offence under section 47(2) of the Financial Services Act 1986, and any other proceedings where the prosecution case amounts to an allegation of market manipulation.
453WThere are no such cases involving an accountant as defendant currently being prosecuted by the Crown prosecution service or the serious fraud office. For the purposes of this answer I have treated the word "accountant" as referring to persons employed as or acting in that capacity, as distinct from an individual who simply happens to hold a formal accountancy qualification.