To ask the Secretary of State for Trade and Industry whether Dunsdale Securities made annual returns of audit certificates for each year it had business authorisation from his Department.

[holding answer 25 June 1990]: Under the Prevention of Fraud (Investments) Act 1958, audit certificates in support of an application for a licence to deal in securities were not required until Aptil 1983 when revised licensing regulations were introduced. After that date each application and monitoring return submitted by Dunsdale Securities was duly verified by an auditor.