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TAILORED BUSINESS LOANS AND EMBEDDED SWAPS

EDM (Early Day Motion) 874: tabled on 11 December 2013

Tabled in the 2013-14 session.

This motion has been signed by 87 Members. It has not yet had any amendments submitted.

As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.

Motion text

That this House notes that small and medium-sized businesses across the country struggled during the financial crisis; further notes that potentially tens of thousands of businesses may have been sold inappropriate complex financial products including fixed rate swaps and embedded swaps; is concerned that while fixed rate swaps purchased as an independent product are included in the current Financial Conduct Authority (FCA) review scheme, swaps embedded in businesses loans are not; further notes that many of these embedded swaps were sold without proper explanation of either the conditions or costs; understands these products are not regulated by the FCA; and therefore calls on the Government to ensure there is proper regulation in the future and that there is a review and access to redress for those affected in the past.

The first 6 Members who have signed to support the motion are the sponsors. The primary sponsor is generally the person who tabled the motion and has responsibility for it. The date shown is when the Member signed the motion.

In addition to the sponsors, the following Members have signed to support the motion.

Abbott, Ms Diane
Labour
Signed on 16 January 2014
Hackney North and Stoke Newington
Anderson, Mr David
Labour
Signed on 6 January 2014
Blaydon
Begg, Dame Anne
Labour
Signed on 22 January 2014
Aberdeen South
Beith, Sir Alan
Liberal Democrat
Signed on 16 January 2014
Berwick-upon-Tweed
Bellingham, Mr Henry
Conservative
Signed on 7 January 2014
North West Norfolk
Blackman, Bob
Conservative
Signed on 17 December 2013
Harrow East
Bottomley, Sir Peter
Conservative
Signed on 17 December 2013
Worthing West
Brady, Mr Graham
Conservative
Signed on 3 February 2014
Altrincham and Sale West
Brooke, Annette
Liberal Democrat
Signed on 25 February 2014
Mid Dorset and North Poole
Brown, Mr Nicholas
Labour
Signed on 7 January 2014
Newcastle upon Tyne East
Bruce, Sir Malcolm
Liberal Democrat
Signed on 10 April 2014
Gordon
Campbell, Sir Menzies
Liberal Democrat
Signed on 18 December 2013
North East Fife
Campbell, Mr Ronnie
Labour
Signed on 18 December 2013
Blyth Valley
Caton, Martin
Labour
Signed on 17 December 2013
Gower
Clark, Katy
Labour
Signed on 15 January 2014
North Ayrshire and Arran
Clarke, Mr Tom
Labour
Signed on 21 January 2014
Coatbridge, Chryston and Bellshill
Connarty, Michael
Labour
Signed on 21 January 2014
Linlithgow and East Falkirk
Cooper, Rosie
Labour
Signed on 22 January 2014
West Lancashire
Corbyn, Jeremy
Labour
Signed on 12 December 2013
Islington North
Crausby, Mr David
Labour
Signed on 21 January 2014
Bolton North East
Crockart, Mike
Liberal Democrat
Signed on 17 December 2013
Edinburgh West
Cunningham, Mr Jim
Labour
Signed on 13 January 2014
Coventry South
Cunningham, Sir Tony
Labour
Signed on 13 January 2014
Workington
Davidson, Mr Ian
Labour
Signed on 6 January 2014
Glasgow South West
Dobbin, Jim
Labour
Signed on 16 December 2013
Heywood and Middleton
Doran, Mr Frank
Labour
Signed on 9 January 2014
Aberdeen North
Dowd, Jim
Labour
Signed on 25 March 2014
Lewisham West and Penge
Durkan, Mark
Social Democratic & Labour Party
Signed on 12 December 2013
Foyle
Edwards, Jonathan
Plaid Cymru
Signed on 12 December 2013
Carmarthen East and Dinefwr
Ellman, Mrs Louise
Labour
Signed on 27 January 2014
Liverpool, Riverside
Farrelly, Paul
Labour
Signed on 7 January 2014
Newcastle-under-Lyme
Farron, Tim
Liberal Democrat
Signed on 29 April 2014
Westmorland and Lonsdale
Flynn, Paul
Labour
Signed on 18 December 2013
Newport West
Galloway, Mr George
Respect
Signed on 5 February 2014
Bradford West
Gapes, Mike
Labour
Signed on 20 January 2014
Ilford South
George, Andrew
Liberal Democrat
Signed on 12 December 2013
St Ives
Gilbert, Stephen
Liberal Democrat
Signed on 25 March 2014
St Austell and Newquay
Glass, Pat
Labour
Signed on 6 January 2014
North West Durham
Glindon, Mrs Mary
Labour
Signed on 19 December 2013
North Tyneside
Godsiff, Mr Roger
Labour
Signed on 16 December 2013
Birmingham, Hall Green
Hancock, Mr Mike
Independent
Signed on 16 December 2013
Portsmouth South
Harris, Mr Tom
Labour
Signed on 15 January 2014
Glasgow South
Havard, Mr Dai
Labour
Signed on 13 January 2014
Merthyr Tydfil and Rhymney
Hood, Mr Jim
Labour
Signed on 20 January 2014
Lanark and Hamilton East
Hopkins, Kelvin
Labour
Signed on 12 December 2013
Luton North
Horwood, Martin
Liberal Democrat
Signed on 21 January 2014
Cheltenham
Lazarowicz, Mark
Labour
Signed on 28 April 2014
Edinburgh North and Leith
Leech, Mr John
Liberal Democrat
Signed on 16 December 2013
Manchester, Withington
Lewis, Dr Julian
Conservative
Signed on 8 January 2014
New Forest East
Llwyd, Mr Elfyn
Plaid Cymru
Signed on 17 December 2013
Dwyfor Meirionnydd
Long, Naomi
Alliance
Signed on 22 January 2014
Belfast East
Mann, John
Labour
Signed on 12 February 2014
Bassetlaw
Marsden, Mr Gordon
Labour
Signed on 18 December 2013
Blackpool South
McDonnell, John
Labour
Signed on 16 December 2013
Hayes and Harlington
McGovern, Jim
Labour
Signed on 6 January 2014
Dundee West
McGuire, Mrs Anne
Labour
Signed on 7 January 2014
Stirling
Meale, Sir Alan
Labour
Signed on 12 December 2013
Mansfield
Morrice, Graeme
Labour
Signed on 25 March 2014
Livingston
Morris, Grahame M.
Labour
Signed on 18 December 2013
Easington
Osborne, Sandra
Labour
Signed on 17 December 2013
Ayr, Carrick and Cumnock
Pugh, John
Liberal Democrat
Signed on 30 January 2014
Southport
Ritchie, Ms Margaret
Social Democratic & Labour Party
Signed on 6 January 2014
South Down
Robertson, John
Labour
Signed on 24 January 2014
Glasgow North West
Rotheram, Steve
Labour
Signed on 13 January 2014
Liverpool, Walton
Roy, Lindsay
Labour
Signed on 27 January 2014
Glenrothes
Sanders, Mr Adrian
Liberal Democrat
Signed on 29 April 2014
Torbay
Sheridan, Jim
Labour
Signed on 18 December 2013
Paisley and Renfrewshire North
Streeter, Mr Gary
Conservative
Signed on 6 January 2014
South West Devon
Stunell, Sir Andrew
Liberal Democrat
Signed on 19 December 2013
Hazel Grove
Twigg, Stephen
Labour
Signed on 15 January 2014
Liverpool, West Derby
Vaz, Valerie
Labour
Signed on 13 January 2014
Walsall South
Walley, Joan
Labour
Signed on 25 March 2014
Stoke-on-Trent North
Watts, Mr Dave
Labour
Signed on 19 December 2013
St Helens North
Weir, Mr Mike
Scottish National Party
Signed on 18 December 2013
Angus
Williams, Hywel
Plaid Cymru
Signed on 27 March 2014
Arfon
Williams, Mr Mark
Liberal Democrat
Signed on 12 December 2013
Ceredigion
Williams, Roger
Liberal Democrat
Signed on 15 January 2014
Brecon and Radnorshire
Wilson, Sammy
Democratic Unionist Party
Signed on 10 February 2014
East Antrim
Wishart, Pete
Scottish National Party
Signed on 4 March 2014
Perth and North Perthshire
Wood, Mike
Labour
Signed on 22 January 2014
Batley and Spen
Wright, David
Labour
Signed on 18 December 2013
Telford

There are no withdrawn signatures for this motion.