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London Capital & Finance Plc bondholder compensation

EDM (Early Day Motion) 1544: tabled on 24 February 2021

Tabled in the 2019-21 session.

This motion has been signed by 28 Members. It has not yet had any amendments submitted.

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.

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.

Shannon, Jim
Democratic Unionist Party
Signed on 1 March 2021
Strangford
Brock, Deidre
Scottish National Party
Signed on 1 March 2021
Edinburgh North and Leith
Spellar, John
Labour
Signed on 1 March 2021
Warley
Carmichael, Mr Alistair
Liberal Democrat
Signed on 2 March 2021
Orkney and Shetland
Farron, Tim
Liberal Democrat
Signed on 3 March 2021
Westmorland and Lonsdale
Brown, Alan
Scottish National Party
Signed on 4 March 2021
Kilmarnock and Loudoun
Law, Chris
Scottish National Party
Signed on 4 March 2021
Dundee West
MacAskill, Kenny
Scottish National Party
Signed on 8 March 2021
East Lothian
Timms, Stephen
Labour
Signed on 8 March 2021
East Ham
Cameron, Dr Lisa
Scottish National Party
Signed on 8 March 2021
East Kilbride, Strathaven and Lesmahagow
Blackman, Bob
Conservative
Signed on 10 March 2021
Harrow East
Campbell, Mr Gregory
Democratic Unionist Party
Signed on 10 March 2021
East Londonderry
Russell-Moyle, Lloyd
Labour
Signed on 12 March 2021
Brighton, Kemptown
Saville Roberts, Liz
Plaid Cymru
Signed on 15 March 2021
Dwyfor Meirionnydd
Williams, Hywel
Plaid Cymru
Signed on 15 March 2021
Arfon
Lake, Ben
Plaid Cymru
Signed on 15 March 2021
Ceredigion
Grant, Peter
Scottish National Party
Signed on 15 March 2021
Glenrothes
Edwards, Jonathan
Independent
Signed on 15 March 2021
Carmarthen East and Dinefwr
Betts, Mr Clive
Labour
Signed on 16 March 2021
Sheffield South East
Black, Mhairi
Scottish National Party
Signed on 22 March 2021
Paisley and Renfrewshire South
Yasin, Mohammad
Labour
Signed on 22 March 2021
Bedford
Bottomley, Sir Peter
Conservative
Signed on 20 April 2021
Worthing West

There are no withdrawn signatures for this motion.