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Unregulated Compensation Pursuers

EDM number 430 in 2005-06, proposed by Paul Flynn on 28/06/2005.

That this House deplores the misleading claims by the 76 companies offering advice to those seeking compensation for mis-sold endowment mortgages; welcomes the advice of the Financial Services Authority (FSA) that `Some companies...make a charge which is usually a large percentage of any compensation the consumer receives. This service does not need to be regulated by the FSA. Using one of these companies to complain on your behalf may not increase your chances of getting compensation'; notes that these companies impose a charge of 10 to 41 per cent. of compensation received for advice which is often of little or no value; commends the splendid step by step advice available at no cost from Which? and the FSA; and calls for a regulated activities order under the Financial Services and Markets Act to make complaint handling for financial service products a regulated activity.

This motion has been signed by a total of 41 MPs, 1 of these signatures have been withdrawn.

Paul Flynn28/06/2005Newport WestLabourProposed
Andrew George28/06/2005St IvesLiberal DemocratSeconded
Bob Spink29/06/2005Castle PointConservativeSeconded
Gregory Campbell29/06/2005East LondonderryDUPSeconded
Peter Bottomley29/06/2005Worthing WestConservativeSeconded
Jeremy Corbyn29/06/2005Islington NorthLabourSeconded
Martin Caton29/06/2005GowerLabourSigned
Andrew Pelling29/06/2005Croydon CentralConservativeSigned
Rudi Vis29/06/2005Finchley and Golders GreenLabourSigned
Mike Hancock29/06/2005Portsmouth SouthLiberal DemocratSigned
Andrew Dismore29/06/2005HendonLabourSigned
Ronnie Campbell29/06/2005Blyth ValleyLabourSigned
Vincent Cable29/06/2005TwickenhamLiberal DemocratSigned
Tom Brake29/06/2005Carshalton and WallingtonLiberal DemocratSigned
Paul Keetch29/06/2005HerefordLiberal DemocratSigned
Lynne Jones29/06/2005Birmingham, Selly OakLabourSigned
Alan Simpson30/06/2005Nottingham SouthLabourSigned
Brian Jenkins30/06/2005TamworthLabourSigned
Colin Breed30/06/2005South East CornwallLiberal DemocratSigned
Annette Brooke30/06/2005Mid Dorset and North PooleLiberal DemocratSigned
Gordon Prentice04/07/2005PendleLabourSigned
Betty Williams04/07/2005ConwyLabourSigned
Ann Cryer04/07/2005KeighleyLabourSigned
John Barrett05/07/2005Edinburgh WestLiberal DemocratSigned
Greg Pope06/07/2005HyndburnLabourSigned
David Simpson06/07/2005Upper BannDUPSigned
Stephen Hepburn06/07/2005JarrowLabourSigned
Elfyn Llwyd07/07/2005Meirionnydd Nant ConwyPlaid CymruSigned
David Hamilton07/07/2005MidlothianLabourSigned
Eric Illsley12/07/2005Barnsley CentralLabourSigned
Paul Truswell12/07/2005PudseyLabourSigned
Bill Etherington14/07/2005Sunderland NorthLabourSigned
Iris Robinson19/07/2005StrangfordDUPSigned
Albert Owen19/07/2005Ynys MLabourSigned
John Austin19/07/2005Erith and ThamesmeadLabourSigned
Andrew Stunell19/07/2005Hazel GroveLiberal DemocratSigned
Kelvin Hopkins21/07/2005Luton NorthLabourSigned
Mark Durkan21/07/2005FoyleSocial Democratic and Labour PartySigned
William McCrea06/11/2006South AntrimDUPSigned
John McDonnell06/11/2006Hayes and HarlingtonLabourSigned
Peter LawUnknownWithdrawn

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