§ Mr. DarlingTo ask the President of the Board of Trade how many cases of alleged insider dealing have been(a) reported for investigation, (b) referred for prosecution and (c) prosecuted before the courts since the coming into force of the Criminal Justice Act 1993. [32056]
Mr. John M. TaylorSince the coming into force on 1 March 1994 of the Criminal Justice Act 1993, 52 cases of possible insider dealing have been reported to my Department, leading to the appointment of inspectors in 25 instances, of which inquiries in respect of 14 are still continuing. In this period, four prosecutions, involving five defendants, have been commenced of which one is under the new legislation.
§ Mr. DarlingTo ask the President of the Board of Trade how many cases of alleged insider dealing have been(a) referred for prosecution and (b) the subject of conviction since 1980. [32057]
Mr. TaylorI refer the hon. Member to the reply given by my hon. Friend the Member for Brecon and Radnor (Mr. Evans) on 21 March 1995,Official Report, column 183. The report, "Companies in 1994–95", has now been published and a copy is available in the Library of the House.
Since 1 April 1995, a further 32 referrals have been made from the London stock exchange leading to 16 appointments of inspectors. There has been one conviction.