HC Deb 19 October 1998 vol 317 cc1035-6W
Mr. Gordon Prentice

To ask the Secretary of State for Trade and Industry what powers he has to order(a) BT and (b) other phone companies to disclose records of telephone calls made by an individual under investigation by his inspectors for alleged insider trading. [54440]

Dr. Howells

[holding answer 31 July 1998]: Under section 177(3) of the Financial Services Act 1986 inspectors appointed to investigate insider dealing can require information, including documents, from any person they consider may be able to assist their investigation. This will include information from telephone companies.

Mr. Gordon Prentice

To ask the Secretary of State for Trade and Industry if inspectors' reports of alleged insider dealing carried out under the Financial Services Act 1986 are passed to the Public Record Office; and when they can be released for public scrutiny. [54439]

Dr. Howells

[holding answer 31 July 1998]: Reports of insider dealing inspections are not passed to the Public Record Office and are not published. There are strict legal restrictions on disclosure of all information obtained in such inspections.