§ 59. Mr. TOUCHE
asked the President of the Board of Trade whether he will consider the advisability of introducing legislation for the compulsory registration of all persons dealing in stocks and shares who are not members of recognised stock exchanges?
§ 60. Mr. R. C. MORRISON
asked the President of the Board of Trade whether his attention has been drawn to a recent case of an outside stock and share broker sentenced to three years' penal servitude for extensive frauds upon the public; and, in view of the frequency of similar cases, will he consider immediate legislation for the compulsory registration of stocks and shares dealers who are not members of recognised stock exchanges?
§ Dr. BURGIN
My attention has been drawn to the case referred to by the hon. 30 Member for North Tottenham (Mr. R. C. Morrison), and the suggestion made in regard to the compulsory registration of dealers in stocks and shares has been noted for further consideration.
§ Mr. MORRISON
Could not the hon. Gentleman arrange, through the usual channels, for discussion to take place as to whether legislation such as that suggested in the questions would be likely to be non-contentious?
§ Dr. BURGIN
What I want the House to understand from my answer is that the mere question of registration of stock and share dealers can hardly be dealt with in isolation. The whole question of share-pushing involves certain clauses of the Companies Acts, and I think the hon. Member will appreciate that my answer that the suggestion has been noted for consideration means that the whole subject is under review.
§ Sir ARTHUR MICHAEL SAMUEL
Does this not again show how necessary it is to have a thorough examination by a Departmental Committee of the flaws in the Companies Act of 1929?