§ Mr. David ShawTo ask the Secretary of State for Trade and Industry what information he has about the Money Management group of companies; their shareholders and directors and any current investigations being undertaken into their activities.
§ Mr. RedwoodI understand that the hon. Member is referring to those companies controlled by Mr. Adrian Ward. Information on Money Management Financial Services Ltd. and Money Management Associates Ltd. is on the companies public files at Companies House. The chief executive advises me that Mrs. Linzi Ward is shown as director of both companies. In each case, the two subscribers to the memoranda of association, Instant Companies Ltd. and Swift Incorporations Ltd., are shown as the only shareholders. I understand that Adrian Ward, trading under the name Money Management Financial Services, holds a licence issued by the Director General of Fair Trading under the Consumer Credit Act 1974. My Department does not hold records of other companies operated by Mr. Ward. MMFS had an interim authorisation which was withdrawn on 26 February. This is a matter for FIMBRA and the SIB.
As regards the question of investigations, my Department does not comment on the affairs of various companies.