|
We all need
to feel confident in our dealings with the business community. As
investors, creditors and consumers, we need to know our money is secure,
and have trust in corporate Britain.
Without this
confidence, investment, sales and markets fall. We need to keep promoting
confidence.
Not only
is confidence enhanced by transparency and accountability, but by
an effective and discerning system of regulation. Our approach to
this is to take a proportionate and realistic view of issues brought
to our attention, and to investigate aspects of corporate behaviour
which might harm both the business community and the public generally.
Companies
Investigation Branch is part of the regulatory arm of the Department
of Trade and Industry.
Under the Companies Act we
have the power to investigate companies. When we receive information
about the behaviour of particular companies we will assess that information
to see whether or not it would be appropriate for us to attend on
that company, and ask them to provide us with information. This allows
us to come to a view as to whether or not the company’s behaviour
is inappropriate, and decide what action we should take.
We do not
carry out criminal investigations - those are better left to the police.
Nor do we usually to intervene in any dispute between individuals
and a company, be they creditors, shareholders or members of the company’s
own management.
Our investigations
are confidential, and as a result we do not tell the company directors
why we are investigating their company.
Inspectors'
Reports
Whilst
the majority of enquiries conducted are the confidential ones referred
to above, over the years Companies Investigation Branch has produced a
number of published reports resulting from investigations by
inspectors appointed by the Secretary of State for Trade and
Industry. Inspections are normally carried out where the company
involved is a major plc and the matters subject to enquiry are of
significant public interest.
Published
Inspectors' Reports in respect of Queens Moat Houses Plc and Mirror
Group Newspapers Plc are currently available online. To view
the Report into Queens Moat Houses Plc please go to: http://www.dti.gov.uk/cld/QMH_Report.pdf
For the Report
into Mirror Group Newspapers Plc go to: http://www.dti.gov.uk/cld/mirrorgroup/index.htm
|
