HC Deb 02 May 1996 vol 276 cc615-6W
Mr. David Nicholson

To ask the Chancellor of the Exchequer, pursuant to his answer of 12 March,Official Report, column 549, about section 47 of the Financial Services Act 1986, who, other than an investor, has a duty to inform the prosecuting authorities when they have identified a breach of section 47; and what policy he has adopted since 1988 to ensure that the Securities and Investments Board, is able to identify breaches of section 47. [26976]

Mrs. Angela Knight

No one has a specific duty to give prosecuting authorities information of the kind described. The Securities and Investments Board has no power to prosecute offences under section 47. Any procedures it has for identifying breaches of that section are operational matters for SIB.