Failure Of Self-Regulation Of Financial Services
EDM number 1345 in 1992-93, proposed by Alistair Darling on 08/02/1993.
That this House notes the increasing importance of the provision of financial services and that substantial sums are at risk; believes that the self-regulatory regime set up under the Financial Services Act 1986 has failed and is in need of complete overhaul; believes that this is not a matter for the industry or the Securities and Investment Board alone and therefore insists that a proper and effective regime is put in place without further delay; believes that the regulatory regime should be supervised by a majority of those representing the public interest and not by a convention of vested interests of the industry: notes the failure of the Securities and Investment Board to put in place the Personal Investment Authority or similar body, and that no adequate regulatory regime is likely to be in place before 1994; believes that any regulatory regime must have sufficient power and resources to regulate sale of financial products, and that the public interest would be best served by a complete overhaul of the current legislation which would provide for a regulatory regime that would be good for the public, efficient for the industry and command the confidence it is manifestly lacking at the moment; and believes that the Government's failure to take any interest in this matter illustrates that it has chosen to side with the vested interests of the industry rather than the interests of the public.
This motion has been signed by a total of 104 MPs.
MP | Date | Constituency | Party | Type |
Alistair Darling | 08/02/1993 | Edinburgh Central | | Proposed |
Max Madden | 08/02/1993 | Bradford West | | Signed |
Ken Purchase | 08/02/1993 | Wolverhampton North East | | Signed |
Giles Radice | 08/02/1993 | North Durham | | Signed |
Andrew Smith | 08/02/1993 | Oxford East | | Signed |
Peter Hardy | 08/02/1993 | Wentworth | | Signed |
Doug Henderson | 08/02/1993 | Newcastle upon Tyne North | | Signed |
John Heppell | 08/02/1993 | Nottingham East | | Signed |
Kate Hoey | 08/02/1993 | Vauxhall | | Signed |
Kim Howells | 08/02/1993 | Pontypridd | | Signed |
John Hutton | 08/02/1993 | Barrow & Furness | | Signed |
Adam Ingram | 08/02/1993 | East Kilbride | | Signed |
Lynne Jones | 08/02/1993 | Birmingham, Selly Oak | | Signed |
Robert Litherland | 08/02/1993 | Manchester Central | | Signed |
Peter Mandelson | 08/02/1993 | Hartlepool | | Signed |
Lewis Moonie | 08/02/1993 | Kirkcaldy | | Signed |
Estelle Morris | 08/02/1993 | Birmingham, Yardley | | Signed |
Nick Brown | 08/02/1993 | Newcastle upon Tyne East | | Signed |
Anne Campbell | 08/02/1993 | Cambridge | | Signed |
Ronnie Campbell | 08/02/1993 | Blyth Valley | | Signed |
Malcolm Chisholm | 08/02/1993 | Edinburgh Leith | | Signed |
Jean Corston | 08/02/1993 | Bristol East | | Signed |
Bob Cryer | 08/02/1993 | Bradford South | | Signed |
Jim Cunningham | 08/02/1993 | Coventry South East | | Signed |
Derek Enright | 08/02/1993 | Hemsworth | | Signed |
Mike Gapes | 08/02/1993 | Ilford South | | Signed |
Irene Adams | 08/02/1993 | Paisley North | | Signed |
Hugh Bayley | 08/02/1993 | York, City of | | Signed |
Gerry Bermingham | 08/02/1993 | St Helens South | | Signed |
Roger Berry | 08/02/1993 | Kingswood | | Signed |
Paul Boateng | 08/02/1993 | Brent South | | Signed |
Gerry Steinberg | 08/02/1993 | Durham, City of | | Signed |
Paddy Tipping | 08/02/1993 | Sherwood | | Signed |
Brian Wilson | 08/02/1993 | Cunninghame North | | Signed |
Peter Pike | 09/02/1993 | Burnley | | Signed |
Dawn Primarolo | 09/02/1993 | Bristol South | | Signed |
Barbara Roche | 09/02/1993 | Hornsey & Wood Green | | Signed |
Ernie Ross | 09/02/1993 | Dundee West | | Signed |
Geoff Hoon | 09/02/1993 | Ashfield | | Signed |
Roy Hughes | 09/02/1993 | Newport East | | Signed |
Terry Lewis | 09/02/1993 | Worsley | | Signed |
John McAllion | 09/02/1993 | Dundee East | | Signed |
William McKelvey | 09/02/1993 | Kilmarnock & Loudoun | | Signed |
Bill Michie | 09/02/1993 | Sheffield, Heeley | | Signed |
George Mudie | 09/02/1993 | Leeds East | | Signed |
Michael Connarty | 09/02/1993 | Falkirk East | | Signed |
Tom Cox | 09/02/1993 | Tooting | | Signed |
John Cummings | 09/02/1993 | Easington | | Signed |
Lawrence Cunliffe | 09/02/1993 | Leigh | | Signed |
Jim Dowd | 09/02/1993 | Lewisham West | | Signed |
Jimmy Dunnachie | 09/02/1993 | Glasgow, Pollok | | Signed |
Kenneth Eastham | 09/02/1993 | Manchester, Blackley | | Signed |
John Evans | 09/02/1993 | St Helens North | | Signed |
Norman Godman | 09/02/1993 | Greenock and Port Glasgow | | Signed |
Roger Godsiff | 09/02/1993 | Birmingham Small Heath | | Signed |
Win Griffiths | 09/02/1993 | Bridgend | | Signed |
Peter Hain | 09/02/1993 | Neath | | Signed |
Janet Anderson | 09/02/1993 | Rossendale & Darwen | | Signed |
Harry Barnes | 09/02/1993 | North East Derbyshire | | Signed |
John Battle | 09/02/1993 | Leeds West | | Signed |
Mike Watson | 09/02/1993 | Glasgow Central | | Signed |
Bridget Prentice | 10/02/1993 | Lewisham East | | Signed |
Robert Hughes | 10/02/1993 | Aberdeen North | | Signed |
Eric Illsley | 10/02/1993 | Barnsley Central | | Signed |
Ken Livingstone | 10/02/1993 | Brent East | | Signed |
Edward O'Hara | 10/02/1993 | Knowsley South | | Signed |
Jamie Cann | 10/02/1993 | Ipswich | | Signed |
Michael Clapham | 10/02/1993 | Barnsley West & Penistone | | Signed |
Ian Davidson | 10/02/1993 | Glasgow, Govan | | Signed |
Paul Flynn | 10/02/1993 | Newport West | | Signed |
John Gunnell | 10/02/1993 | Leeds South and Morley | | Signed |
Clive Betts | 10/02/1993 | Sheffield, Attercliffe | | Signed |
Jack Thompson | 10/02/1993 | Wansbeck | | Signed |
Tony Worthington | 10/02/1993 | Clydebank & Milngavie | | Signed |
Helen Jackson | 11/02/1993 | Sheffield, Hillsborough | | Signed |
Henry McLeish | 11/02/1993 | Central Fife | | Signed |
Keith Bradley | 11/02/1993 | Manchester, Withington | | Signed |
Bill Etherington | 11/02/1993 | Sunderland North | | Signed |
Barry Jones | 15/02/1993 | Alyn & Deeside | | Signed |
Roland Boyes | 15/02/1993 | Houghton and Washington | | Signed |
John Denham | 15/02/1993 | Southampton, Itchen | | Signed |
Angela Eagle | 15/02/1993 | Wallasey | | Signed |
Jeff Rooker | 16/02/1993 | Birmingham, Perry Barr | | Signed |
Martyn Jones | 16/02/1993 | Clwyd South West | | Signed |
Eddie Loyden | 16/02/1993 | Liverpool, Garston | | Signed |
Ian McCartney | 16/02/1993 | Makerfield | | Signed |
Andrew Miller | 16/02/1993 | Ellesmere Port & Neston | | Signed |
Bruce Grocott | 16/02/1993 | Wrekin, The | | Signed |
Alan Milburn | 17/02/1993 | Darlington | | Signed |
Harold Walker | 17/02/1993 | Doncaster Central | | Signed |
Alan Simpson | 18/02/1993 | Nottingham South | | Signed |
Tony Wright | 18/02/1993 | Cannock and Burntwood | | Signed |
Dale Campbell-Savours | 23/02/1993 | Workington | | Signed |
Tommy Graham | 25/02/1993 | Renfrew West and Inverclyde | | Signed |
David Hanson | 02/03/1993 | Delyn | | Signed |
Kevin Hughes | 02/03/1993 | Doncaster North | | Signed |
Allan Rogers | 04/03/1993 | Rhondda | | Signed |
John McWilliam | 04/03/1993 | Blaydon | | Signed |
Gwyneth Dunwoody | 04/03/1993 | Crewe & Nantwich | | Signed |
Audrey Wise | 17/03/1993 | Preston | | Signed |
Austin Mitchell | 18/03/1993 | Great Grimsby | | Signed |
Frank Cook | 23/03/1993 | Stockton North | | Signed |
Andrew MacKinlay | 25/03/1993 | Thurrock | | Signed |
Greg Pope | 31/03/1993 | Hyndburn | | Signed |
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