Motion text
That this House recognises the significant losses of the 11,625 London Capital & Finance Plc (LC&F) bondholders who invested about £237 million and may only get 20 per cent of their investment back following the scheme’s failure; notes that the Financial Services Compensation Scheme has paid £56.3 million in compensation to 2,878 LC&F bondholders to date; welcomes the publication of the independent investigation report by Dame Elizabeth Gloster in December 2020; notes that the report was strongly critical of the Financial Conduct Authority’s approach, contending that the regulator had failed to fulfil its statutory objectives; further notes that the FCA and the Government have accepted all 13 recommendations from the report; welcomes the announcement from the Government that it will establish its own compensation scheme for LC&F bondholders; and urges the Government to set out the terms of the scheme at the earliest opportunity.
Signatures (27)
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.
Hanvey, Neale
Scottish National Party
Signed on
24 February 2021
Fellows, Marion
Scottish National Party
Signed on
1 March 2021
Rosindell, Andrew
Conservative
Signed on
1 March 2021
Newlands, Gavin
Scottish National Party
Signed on
1 March 2021
Dorans, Allan
Scottish National Party
Signed on
1 March 2021
McDonnell, John
Labour
Signed on
1 March 2021
In addition to the sponsors, the following Members have signed to support the motion.
Shannon, Jim
Democratic Unionist Party
Signed on
1 March 2021
Brock, Deidre
Scottish National Party
Signed on
1 March 2021
Spellar, John
Labour
Signed on
1 March 2021
Carmichael, Mr Alistair
Liberal Democrat
Signed on
2 March 2021
Farron, Tim
Liberal Democrat
Signed on
3 March 2021
Brown, Alan
Scottish National Party
Signed on
4 March 2021
Law, Chris
Scottish National Party
Signed on
4 March 2021
MacAskill, Kenny
Scottish National Party
Signed on
8 March 2021
Timms, Stephen
Labour
Signed on
8 March 2021
Cameron, Dr Lisa
Scottish National Party
Signed on
8 March 2021
Blackman, Bob
Conservative
Signed on
10 March 2021
Campbell, Mr Gregory
Democratic Unionist Party
Signed on
10 March 2021
Russell-Moyle, Lloyd
Labour
Signed on
12 March 2021
Saville Roberts, Liz
Plaid Cymru
Signed on
15 March 2021
Williams, Hywel
Plaid Cymru
Signed on
15 March 2021
Lake, Ben
Plaid Cymru
Signed on
15 March 2021
Grant, Peter
Scottish National Party
Signed on
15 March 2021
Edwards, Jonathan
Independent
Signed on
15 March 2021
Betts, Mr Clive
Labour
Signed on
16 March 2021
Black, Mhairi
Scottish National Party
Signed on
22 March 2021
Yasin, Mohammad
Labour
Signed on
22 March 2021
There are no withdrawn signatures for this motion.