COMPANY INVESTIGATIONS

That this House welcomes the opportunity to debate company investigations on Thursday 13th December; but deplores the fact that more time has not been made available for the debate; notes the important role played by such investigations in protecting investors; recalls the recent report of the Trade and Industry Select Committee on company investigations (Third Report 1989-90), HC 36) and the Government Reply, Cm 1149; supports the Committee's recommendations on insider dealing; agrees with the Committee that the Government should take steps to develop a cadre of professionally qualified and skilled investigatory staff to support major investigations and work in regulatory bodies; recalls that the investigations into Guinness, the House of Fraser and County NatWest each cost more than ú1 million; and believes that greater steps should be taken to recover the costs of investigations from the companies and individuals, unless the inspectors find no evidence of wrong-doing.