§ Mr. CousinsTo ask the Chancellor of the Duchy of Lancaster how many prima facie cases of insider dealing have been referred to his Department by the Stock Exchange insider dealing group.
§ Mr. MaudeAbout 180 cases of possible insider dealing offences have been referred by the Stock Exchange to my Department since insider dealing became a criminal offence in June 1980. Of those cases 76 have been referred since Royal Assent to the Financial Services Act 1986.
§ Mr. CousinsTo ask the Chancellor of the Duchy of Lancaster in how many cases of prima facie insider dealing prosecutions have resulted since the passing of the Financial Services Act.
§ Mr. MaudeSince the Financial Services Act 1986 received Royal Assent in November 1986 six prosecutions for insider dealing offences have been instituted and330W completed, and proceedings have begun in a further eight cases. Seven out of those 14 prosecutions followed reports from inspectors appointed under section 177 of the Financial Services Act.
§ Mr. CousinsTo ask the Chancellor of the Duchy of Lancaster in how many cases of prima facie insider deals the Government have appointed inspectors to investigate using their powers under the Financial Services Act.
§ Mr. MaudeInspectors have been appointed under section 177 of the Financial Services Act 1986 to investigate 31 cases of possible insider dealing offences.