§ Mr. Campbell-SavoursTo ask the Prime Minister (1) what safeguards are in place to ensure that Ministers or former Ministers do not allow stockholding companies or financial intermediaries handling their personal affairs to trade in stocks where price-sensitive information has been made available;
(2) what safeguards are in place to ensure that former Ministers do not give price-sensitive information to stock market traders; whether any breaches have occurred in the period 1982 to 1988; and if she will make a statement.
§ The Prime MinisterFor any individual knowingly to deal on the basis of unpublished price-sensitive information obtained (directly or indirectly) from an insider is a criminal offence under the insider dealing legislation. As has been the practice under successive724W Governments, Ministers are given advice, on taking up office, on steps which should be taken and action from which they should refrain in respect of any investments they may hold or acquire so as to avoid a conflict of interest. This includes the advice that Ministers should scrupulously avoid speculative investments in securities about which they have, or may be thought to have, early or confidential information likely to affect the price of those securities. I am unaware of any breaches of the legislation by Ministers or former Ministers having occurred in the period 1982–88.