§ Mr. Gordon PrenticeTo ask the President of the Board of Trade if she will seek the agreement of Lady Archer and Broosk Saib to make public details of the evidence they gave to her Department's inspectors investigating the conduct of Lord Archer of Weston-super-Mare in respect of share dealing. [48920]
§ Mrs. BeckettI have no plans to do so.
§ Mr. Gordon PrenticeTo ask the President of the Board of Trade if she will seek the agreement of Ms Morgan Thomas to make public details of the evidence she gave to the Department's inspectors investigating the conduct of Lord Archer of Weston-super-Mare in respect of share dealing. [49433]
§ Mrs. Beckett[holding answer 7 July 1998]: No.
§ Mr. Gordon PrenticeTo ask the President of the Board of Trade if her Department' s inspector's report into the conduct of Lord Archer of Weston-super-Mare in respect of share dealing carried a recommendation. [49431]
§ Mrs. Beckett[holding answer 7 July 1998]: The report of the inspectors is confidential.
§ Mr. Gordon PrenticeTo ask the President of the Board of Trade (1) how many investigations were conducted into alleged insider dealing in Anglia TV shares; when each investigation started and finished; and how many persons were interviewed in each case;. [49362]
(2) if the report by her Department's inspectors on the investigations into share dealing in Anglia TV by Lord Archer of Weston-super-Mare has been made available to Ministers;. [49202]
(3) if she will request Mr. Edmund Lawson QC to review the information now in the public domain concerning the conduct of Lord Archer of Weston-super-Mare in respect of share dealing with a view to ascertaining whether there are grounds for a fresh investigation;. [48605]
(4) if she will seek the consent of Lord Archer of Weston-super-Mare to publish the report of the investigation into his conduct in respect of share dealing;. [48606]
211W(5) if she will seek the permission of the former President of the Board of Trade, the Right hon. Member for Henley (Mr. Heseltine), to consult the inspector's report into the conduct of Lord Archer of Weston-super-Mare in respect of share dealing;. [49547]
(6) if she will pass the report of her Department's 1994 investigation into the conduct of Lord Archer of Weston-super-Mare in respect of share dealings on to the Director of Public Prosecutions with a request for an opinion whether (a) the report and (b) facts disclosed subsequently constitute sufficient reason for the inquiry to be re-opened;. [48249]
(7) pursuant to her answer of 17 June 1998, Official Report, column 242, if she will assess (a) the statement by Lord Archer of Weston-super-Mare in the Evening Standard of 9 June concerning Sir Nicholas Lloyd and (b) subsequent statements by Sir Nicholas Lloyd as possible new evidence which could justify the appointment of inspectors to investigate the alleged insider dealing in Anglia shares in 1994. [48253]
§ Mrs. BeckettThe investigations into dealings in the shares of Anglia Television Group plc were matters which were begun and completed under the previous Administration.
Reports on allegations of insider dealings are never published, as there are strict legal restraints on disclosure of information obtained in such investigations.
I would consider opening a further investigation only if substantial fresh information became available, and if it was considered to be in the public interest to do so.
In accordance with normal practice of neither confirming nor denying the existence of insider dealing investigations (unless there was some overriding public interest in doing so) no announcement was initially made of the appointment of inspectors on 8 February 1994 to inquire into dealings in the shares of Anglia Television Group Plc between 10 and 21 January 1994.
On 7 July 1994, however, it became apparent that the media had detailed knowledge of the inspection, and the then Secretary of State accordingly decided that acknowledgement was in the public interest and confirmed that an investigation was being undertaken into the dealings in Anglia shares and that Lord Archer was one of the persons concerned. The inspectors reported on 19 July 1994, having conducted formal interviews with 22 witnesses. The then Secretary of State's decision to take no further action was announced on 28 July 1994.
The original investigation had attracted widespread media coverage and speculation continued in the press and a number of further allegations were received in the Department about other dealings in Anglia shares. On reviewing this information in the spring of 1995 the then Secretary of State concluded that the inspectors should be re-appointed to investigate this new information. The then Secretary of State also decided, in line with normal practice, that this re-appointment should not be announced and that no further public statement should be made. The inspectors were re-appointed on 4 May 1995 to inquire into dealings in the shares of Anglia between 20 December 1993 and 21 January 1994. On 26 July 1996 the inspectors submitted their report on the second 212W investigation, having conducted formal interviews with 32 witnesses. They concluded that there was no evidence on which a prosecution could be founded.
Although the second investigation was a matter of some discussion and speculation in the media at the time, the re-appointment of inspectors has not previously been publicly acknowledged; and answers to recent parliamentary questions refer only to the first investigation. However, in order that there should be no misconception on this matter, I now consider it right to confirm the re-appointment of the inspectors in 1995.
No papers relating to these two reports from the previous administration, and neither of the reports themselves have been seen by present Ministers. However, my officials have considered whether recent information constitutes new evidence which I ought to consider with a view to deciding whether to re-open the investigation. They have advised me that it does not, and I have accepted that advice; I have similarly accepted their advice that no useful purpose would be served by referring this case to Counsel or to the DPP.
§ Mr. Gordon PrenticeTo ask the President of the Board of Trade (1) if it is standard practice for her Department's inspectors investigating alleged insider trading to ask the subject of the investigation what factors persuaded him or her to enter the market and buy shares; and if there is a verbatim record;. [48251]
(2) if she will make it her policy for interviews carried out by her Department's inspectors into allegations of insider trading to be (a) tape-recorded and (b) video-recorded;. [48250]
(3)on which dates, and for what period of time, her Department's inspectors investigating the conduct of Lord Archer of Weston-super-Mare in respect of share dealing interviewed him. [48131]
§ Mrs. BeckettInspectors appointed under S.177 of the Financial Services Act 1986 are independent of the Department and masters of their own procedure. It is for the inspectors to determine the manner in which they conduct the inquiries.