§ Sir David SteelTo ask the Attorney-General what was the result of his action over the Lord Archer share dealing allegations with particular reference to possible grounds for prosecution; and what plans he has to take the matter further.
§ Mr. HeseltineI have been asked to reply.
The Financial Services Act 1986 places responsibility for these matters on me. I appointed inspectors on 8 February 1994 to investigate allegations concerning share dealing by Lord Archer and they presented their report to me on 18 July 1994. As I announced on 28 July 1994, I concluded, on the basis of the inspectors' report and departmental and other, independent, legal advice, that the Department should take no further action against any of the individuals concerned in the investigation.