§ Mr. CousinsTo ask the Secretary of State for Trade and Industry if he will list the names of all companies or firms investigated or suspended since the implementation of the Financial Services Act.
§ Mr. Redwood[holding answer 16 July 1990]: Statistical information on investigations is included in the report of the Trade and Industry Select Committee on company investigations and the annual report of the Securities and Investments Board also includes similar information on the use of their enforcement powers. Suspensions by SIB and the SROs are made public by these bodies. Investigations are confidential, as they may reveal that the firm or persons being invesitgated is innocent and publication of suspicion would be damaging.
§ Mr. CousinsTo ask the Secretary of State for Trade and Industry if he will list all the reports published on investigations carried out under the Financial Services Act.
§ Mr. Redwood[holding answer 16 July 1990]: Only reports of inspectors appointed under section 94 of the Financial Services Act can be published. No such reports have been published. The Secretary of State's powers under section 94 have been transferred to the Securities and Investments Board.