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Selling Of Complex Financial Products Known As Embedded Swaps And Fixed Rate Swaps

EDM number 946 in 2015-16, proposed by Paul Monaghan on 12/01/2016.
Categorised under the topics of Financial services and Small businesses.

That this House recognises that many thousands of small and medium-sized businesses across the UK have been inappropriately sold complex financial products, including so called embedded swaps and fixed rate swaps; notes that many of these embedded swap products were sold without proper explanation of either the conditions or costs associated; expresses concern that while fixed rate swaps purchased as an independent product are included in the current Financial Conduct Authority (FCA) review scheme, swaps embedded in business loans are not, and remain unregulated by the FCA; and calls on the Government to undertake a review of these products, to provide redress for those affected in the past and to ensure proper regulation of such financial products in the future.

This motion has been signed by a total of 54 MPs.

Paul Monaghan12/01/2016Caithness, Sutherland and Easter RossScottish National PartyProposed
Carol Monaghan12/01/2016Glasgow North WestScottish National PartySeconded
Ian Blackford12/01/2016Ross, Skye and LochaberScottish National PartySeconded
Ronnie Cowan12/01/2016InverclydeScottish National PartySeconded
Callum McCaig12/01/2016Aberdeen SouthScottish National PartySeconded
Margaret Ferrier12/01/2016Rutherglen and Hamilton WestScottish National PartySeconded
Martin Docherty12/01/2016West DunbartonshireScottish National PartySigned
Mark Durkan12/01/2016FoyleSocial Democratic and Labour PartySigned
Alan Meale13/01/2016MansfieldLabourSigned
Michael Weir13/01/2016AngusScottish National PartySigned
Liz Saville Roberts13/01/2016Dwyfor MeirionnyddPlaid CymruSigned
Chris Stephens13/01/2016Glasgow South WestScottish National PartySigned
Jonathan Edwards13/01/2016Carmarthen East and DinefwrPlaid CymruSigned
Peter Bottomley13/01/2016Worthing WestConservativeSigned
Martyn Day13/01/2016Linlithgow and East FalkirkScottish National PartySigned
Alasdair McDonnell14/01/2016Belfast SouthSocial Democratic and Labour PartySigned
Calum Kerr14/01/2016Berwickshire, Roxburgh and SelkirkScottish National PartySigned
Neil Gray14/01/2016Airdrie and ShottsScottish National PartySigned
Stewart McDonald14/01/2016Glasgow SouthScottish National PartySigned
Angus MacNeil14/01/2016Na h-Eileanan an IarScottish National PartySigned
Drew Hendry14/01/2016Inverness, Nairn, Badenoch and StrathspeyScottish National PartySigned
Chris Law14/01/2016Dundee WestScottish National PartySigned
Margaret Ritchie18/01/2016South DownSocial Democratic and Labour PartySigned
Roger Mullin18/01/2016Kirkcaldy and CowdenbeathScottish National PartySigned
Mhairi Black18/01/2016Paisley and Renfrewshire SouthScottish National PartySigned
Caroline Lucas18/01/2016Brighton, PavilionGreenSigned
Joanna Cherry18/01/2016Edinburgh South WestScottish National PartySigned
Pete Wishart18/01/2016Perth and North PerthshireScottish National PartySigned
Corri Wilson18/01/2016Ayr, Carrick and CumnockScottish National PartySigned
Stuart McDonald18/01/2016Cumbernauld, Kilsyth and Kirkintilloch EastScottish National PartySigned
John Nicolson18/01/2016East DunbartonshireScottish National PartySigned
Natalie McGarry18/01/2016Glasgow EastScottish National PartySigned
Lisa Cameron19/01/2016East Kilbride, Strathaven and LesmahagowScottish National PartySigned
Roger Godsiff19/01/2016Birmingham, Hall GreenLabourSigned
Angela Crawley20/01/2016Lanark and Hamilton EastScottish National PartySigned
Bob Blackman20/01/2016Harrow EastConservativeSigned
Gavin Newlands20/01/2016Paisley and Renfrewshire NorthScottish National PartySigned
Kirsten Oswald21/01/2016East RenfrewshireScottish National PartySigned
Patricia Gibson25/01/2016North Ayrshire and ArranScottish National PartySigned
John McNally25/01/2016FalkirkScottish National PartySigned
Steven Paterson25/01/2016StirlingScottish National PartySigned
Kirsty Blackman25/01/2016Aberdeen NorthScottish National PartySigned
Stephen Gethins27/01/2016North East FifeScottish National PartySigned
Tasmina Sheikh27/01/2016Ochil and South PerthshireScottish National PartySigned
Deidre Brock27/01/2016Edinburgh North and LeithScottish National PartySigned
Mark Williams01/02/2016CeredigionLiberal DemocratSigned
Alistair Carmichael01/02/2016Orkney and ShetlandLiberal DemocratSigned
Richard Arkless03/02/2016Dumfries and GallowayScottish National PartySigned
Alan Brown22/02/2016Kilmarnock and LoudounScottish National PartySigned
Brendan O'Hara23/02/2016Argyll and ButeScottish National PartySigned
Jim Dowd23/02/2016Lewisham West and PengeLabourSigned
Virendra Sharma23/02/2016Ealing, SouthallLabourSigned
Douglas Chapman01/03/2016Dunfermline and West FifeScottish National PartySigned
Owen Thompson01/03/2016MidlothianScottish National PartySigned

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