§ Mr. FrenchTo ask the Secretary of State for Trade and Industry for what periods from January 1982 onwards his Department had direct responsibility for the investment business of the company C. J. How, and any related company.
§ Mr. RedwoodUnder the Prevention of Fraud (Investments) Act 1958, which was repealed on 29 April 381W 1988, the Department was responsible for issuing licences to dealers in securities except where they were members of a recognised association of dealers. The Department did not issue a licence to either C. J. How or C. J. How International.
§ Mr. FrenchTo ask the Secretary of State for Trade and Industry for what periods from January 1982 onwards responsibility for the investment business of the company C. J. How or any related company was vested in(a) the National Association of Security Dealers and Investment Managers, (b) the Securities and Investments Board and (c) the Financial Intermediaries, Managers and Brokers Regulatory Organisation.
§ Mr. RedwoodC. J. How was a member of NASDIM, which on 9 July 1986 became FIM BRA, from 1982 until his membership was terminated in January 1988. Under the Financial Services Act 1986, the main provisions of which came into force on 29 April 1988, any firm wishing to carry on investment business has to be authorised to do so: the Securities and Investments Board is responsible for investigating and, if appropriate, dealing with cases of unauthorised business.