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SELLING OF COMPLEX FINANCIAL PRODUCTS KNOWN AS EMBEDDED SWAPS AND FIXED RATE SWAPS

EDM (Early Day Motion) 946: tabled on 12 January 2016

Tabled in the 2015-16 session.

This motion has been signed by 54 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 recognises that many thousands of small and medium-sized businesses across the UK have been inappropriately sold complex financial products, including so called embedded swaps and fixed rate swaps; notes that many of these embedded swap products were sold without proper explanation of either the conditions or costs associated; expresses concern that while fixed rate swaps purchased as an independent product are included in the current Financial Conduct Authority (FCA) review scheme, swaps embedded in business loans are not, and remain unregulated by the FCA; and calls on the Government to undertake a review of these products, to provide redress for those affected in the past and to ensure proper regulation of such financial products in the future.

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.

Ahmed-Sheikh, Ms Tasmina
Scottish National Party
Signed on 27 January 2016
Ochil and South Perthshire
Arkless, Richard
Scottish National Party
Signed on 3 February 2016
Dumfries and Galloway
Black, Mhairi
Scottish National Party
Signed on 18 January 2016
Paisley and Renfrewshire South
Blackman, Bob
Conservative
Signed on 20 January 2016
Harrow East
Blackman, Kirsty
Scottish National Party
Signed on 25 January 2016
Aberdeen North
Bottomley, Sir Peter
Conservative
Signed on 13 January 2016
Worthing West
Brock, Deidre
Scottish National Party
Signed on 27 January 2016
Edinburgh North and Leith
Brown, Alan
Scottish National Party
Signed on 22 February 2016
Kilmarnock and Loudoun
Cameron, Dr Lisa
Scottish National Party
Signed on 19 January 2016
East Kilbride, Strathaven and Lesmahagow
Carmichael, Mr Alistair
Liberal Democrat
Signed on 1 February 2016
Orkney and Shetland
Chapman, Douglas
Scottish National Party
Signed on 1 March 2016
Dunfermline and West Fife
Cherry, Joanna
Scottish National Party
Signed on 18 January 2016
Edinburgh South West
Crawley, Angela
Scottish National Party
Signed on 20 January 2016
Lanark and Hamilton East
Day, Martyn
Scottish National Party
Signed on 13 January 2016
Linlithgow and East Falkirk
Docherty, Martin John
Scottish National Party
Signed on 12 January 2016
West Dunbartonshire
Dowd, Jim
Labour
Signed on 23 February 2016
Lewisham West and Penge
Durkan, Mark
Social Democratic & Labour Party
Signed on 12 January 2016
Foyle
Edwards, Jonathan
Plaid Cymru
Signed on 13 January 2016
Carmarthen East and Dinefwr
Gethins, Stephen
Scottish National Party
Signed on 27 January 2016
North East Fife
Gibson, Patricia
Scottish National Party
Signed on 25 January 2016
North Ayrshire and Arran
Godsiff, Mr Roger
Labour
Signed on 19 January 2016
Birmingham, Hall Green
Gray, Neil
Scottish National Party
Signed on 14 January 2016
Airdrie and Shotts
Hendry, Drew
Scottish National Party
Signed on 14 January 2016
Inverness, Nairn, Badenoch and Strathspey
Kerr, Calum
Scottish National Party
Signed on 14 January 2016
Berwickshire, Roxburgh and Selkirk
Law, Chris
Scottish National Party
Signed on 14 January 2016
Dundee West
Lucas, Caroline
Green Party
Signed on 18 January 2016
Brighton, Pavilion
MacNeil, Angus Brendan
Scottish National Party
Signed on 14 January 2016
Na h-Eileanan an Iar
McDonald, Stewart Malcolm
Scottish National Party
Signed on 14 January 2016
Glasgow South
McDonald, Stuart C.
Scottish National Party
Signed on 18 January 2016
Cumbernauld, Kilsyth and Kirkintilloch East
McDonnell, Dr Alasdair
Social Democratic & Labour Party
Signed on 14 January 2016
Belfast South
McGarry, Natalie
Independent
Signed on 18 January 2016
Glasgow East
McNally, John
Scottish National Party
Signed on 25 January 2016
Falkirk
Meale, Sir Alan
Labour
Signed on 13 January 2016
Mansfield
Mullin, Roger
Scottish National Party
Signed on 18 January 2016
Kirkcaldy and Cowdenbeath
Newlands, Gavin
Scottish National Party
Signed on 20 January 2016
Paisley and Renfrewshire North
Nicolson, John
Scottish National Party
Signed on 18 January 2016
East Dunbartonshire
O'Hara, Brendan
Scottish National Party
Signed on 23 February 2016
Argyll and Bute
Oswald, Kirsten
Scottish National Party
Signed on 21 January 2016
East Renfrewshire
Paterson, Steven
Scottish National Party
Signed on 25 January 2016
Stirling
Ritchie, Ms Margaret
Social Democratic & Labour Party
Signed on 18 January 2016
South Down
Saville Roberts, Liz
Plaid Cymru
Signed on 13 January 2016
Dwyfor Meirionnydd
Sharma, Mr Virendra
Labour
Signed on 23 February 2016
Ealing, Southall
Stephens, Chris
Scottish National Party
Signed on 13 January 2016
Glasgow South West
Thompson, Owen
Scottish National Party
Signed on 1 March 2016
Midlothian
Weir, Mike
Scottish National Party
Signed on 13 January 2016
Angus
Williams, Mr Mark
Liberal Democrat
Signed on 1 February 2016
Ceredigion
Wilson, Corri
Scottish National Party
Signed on 18 January 2016
Ayr, Carrick and Cumnock
Wishart, Pete
Scottish National Party
Signed on 18 January 2016
Perth and North Perthshire

There are no withdrawn signatures for this motion.