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West Bromwich Building Society

EDM number 1531 in 1993-94, proposed by William Powell on 18/07/1994.

That this House has learnt with astonishment of the decision not to publish the report entitled The Role of the West Bromwich Building Society in the Sale of Home Income Plans compiled by FIMBRA; has regard to the fact that the report states that the literature of the West Bromwich Building Society on home income plans was misleading, that the West Bromwich schemes, many of which were sold through Fisher Prew Smith, a FIMBRA related adviser that became insolvent, was not up to the high standards of integrity and fair dealing expected and that the SIB has failed to make use of its powers under section 62 of the Financial Services Act 1986 which would allow it to apply to the courts to make a restitution order against any authorised investment firm, and that the West Bromwich Building Society has breached three rules of the Building Society's Act 1986 concerning the maintenance of adequate reserves, lack of prudent management and lack of skill and recommends that three directors of the West Bromwich Building Society are not fit and proper persons to hold their positions; and therefore calls upon Her Majesty's Treasury, the Bank of England and all the regulatory agencies to act at once to end this scandal and to ensure that the elderly victims of the sharp and unlawful practices of the West Bromwich Building Society are compensated in a full and proper way for the losses which they have experienced as a consequence.

This motion has been signed by a total of 49 MPs.

William Powell18/07/1994CorbyProposed
Lynne Jones18/07/1994Birmingham, Selly OakSigned
Peter Hardy19/07/1994WentworthSigned
Ken Livingstone19/07/1994Brent EastSigned
Michael Connarty19/07/1994Falkirk EastSigned
Harry Barnes19/07/1994North East DerbyshireSigned
Paul Tyler19/07/1994North CornwallSigned
John Whittingdale19/07/1994Colchester South and MaldonSigned
Win Griffiths20/07/1994BridgendSigned
Audrey Wise20/07/1994PrestonSigned
Mike Hall20/07/1994Warrington SouthSigned
John Gunnell20/07/1994Leeds South and MorleySigned
Mike Gapes20/07/1994Ilford SouthSigned
John Cummings20/07/1994EasingtonSigned
Greg Pope20/07/1994HyndburnSigned
Jean Corston20/07/1994Bristol EastSigned
Michael Clapham20/07/1994Barnsley West & PenistoneSigned
Eric Illsley20/07/1994Barnsley CentralSigned
John Denham20/07/1994Southampton, ItchenSigned
Bill Etherington21/07/1994Sunderland NorthSigned
Simon Hughes21/07/1994Southwark and BermondseySigned
Nick Harvey21/07/1994North DevonSigned
Tony Wright17/10/1994Cannock and BurntwoodSigned
Walter Sweeney17/10/1994Vale of GlamorganSigned
Elfyn Llwyd17/10/1994Meirionnydd Nant ConwySigned
David Steel17/10/1994Tweeddale, Ettrick and LauderdaleSigned
Roger Berry17/10/1994KingswoodSigned
Bruce Grocott17/10/1994Wrekin, TheSigned
Peter Fry17/10/1994WellingboroughSigned
John Evans17/10/1994St Helens NorthSigned
Michael Clark17/10/1994RochfordSigned
Dale Campbell-Savours17/10/1994WorkingtonSigned
Paul Marland17/10/1994Gloucestershire WestSigned
Liz Lynne17/10/1994RochdaleSigned
Doug Hoyle17/10/1994Warrington NorthSigned
David Hanson17/10/1994DelynSigned
Derek Enright17/10/1994HemsworthSigned
Ian Davidson18/10/1994Glasgow, GovanSigned
Jim Dowd18/10/1994Lewisham WestSigned
David Nicholson19/10/1994TauntonSigned
Dennis Turner19/10/1994Wolverhampton South EastSigned
Janet Anderson19/10/1994Rossendale & DarwenSigned
Richard Burden19/10/1994Birmingham, NorthfieldSigned
John Hunt20/10/1994RavensbourneSigned
Harold Elletson24/10/1994Blackpool NorthSigned
Martyn Jones26/10/1994Clwyd South WestSigned
Keith Speed31/10/1994AshfordSigned
Mike O'Brien01/11/1994North WarwickshireSigned
Teresa Gorman02/11/1994BillericaySigned

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