Insider Dealing (Hansard, 13 January 1993)

§ Mr. Darling
To ask the Chancellor of the Exchequer how many cases of insider dealing were reported to the authorities in each year since 1987.

§ Mr. Nelson
Alleged cases of insider dealing are generally detected by the stock exchange through its monitoring of share dealing. Following a preliminary748W investigation, the stock exchange informs the Department of Trade and Industry when it believes that there is a prima facie case. That Department has powers to investigate and to bring prosecutions where appropriate. The cases referred to the DTI in this way since 1987–88 are set out in the table.

Alleged cases of insider dealing reported to the DTI by the stock exchange between 1987–88 and 1992–93¹

Year Cases reported

1987–88 29

1988–89 33

1989–90 21

1990–91 8

1991–92 11

1992–93 2

Total 104

¹ A case may have led to more than one person being prosecuted. The information for 1992–93 relates to cases which were reported to the DTI between April and the end of December 1992.

§ Mr. Darling
To ask the Chancellor of the Exchequer how many cases of insider dealing have been prosecuted in each year from 1987 to date; and how many of these prosecutions resulted in(a) conviction and (b) acquittal.

§ Mr. Nelson
The information is given in the table.

Insider dealing prosecutions between 1987–88 and 1992–93¹

Year Cases Prosecutions Convictions Acquittals

1987–88 3 3 3 0

1988–89 1 1 0 1

1989–90 10 14 4 9

1990–91 1 2 2 0

1991–92 5 8 3 5

1992–93 1 5 4 1

Total 21 33 16 16

¹ The figures in the final three columns reflect the number of individual defendants who were prosecuted, and the verdict reached, in the 21 insider dealing cases which have been concluded since April 1987.

The figures for 1989–90 include one prosecution which was subsequently withdrawn.

Alleged cases of insider dealing reported to the DTI by the stock exchange between 1987–88 and 1992–93¹
Year	Cases reported
1987–88	29
1988–89	33
1989–90	21
1990–91	8
1991–92	11
1992–93	2
Total	104
¹ A case may have led to more than one person being prosecuted. The information for 1992–93 relates to cases which were reported to the DTI between April and the end of December 1992.

Insider dealing prosecutions between 1987–88 and 1992–93¹
Year	Cases	Prosecutions	Convictions	Acquittals
1987–88	3	3	3	0
1988–89	1	1	0	1
1989–90	10	14	4	9
1990–91	1	2	2	0
1991–92	5	8	3	5
1992–93	1	5	4	1
Total	21	33	16	16
¹ The figures in the final three columns reflect the number of individual defendants who were prosecuted, and the verdict reached, in the 21 insider dealing cases which have been concluded since April 1987.