Financial Conduct Authority redress scheme debate

Watch the debate and read the transcript

The debate was opened by Guto Bebb.

Watch the debate on Parliament TV and read the views expressed by MPs in Commons Hansard.

• Watch Parliament TV: Financial Conduct Authority redress scheme debate
• Read Commons Hansard: Financial Conduct Authority redress scheme debate

Text of the motion

Guto Bebb moved the following motion:

“That this House considers the lack of progress made by banks and the Financial Conduct Authority on the redress scheme adopted as a result of the mis-selling of complex interest rate derivatives to small and medium businesses to be unacceptable; and notes that this lack of progress is costly and has caused further undue distress to the businesses involved."

How the subject was selected

The subject for this debate was determined by the Backbench Business Committee following representations by Guto Bebb, Mark Garnier, and Mr Gary Streeter at the Committee’s public meeting on 15 October 2013.

• Parliament TV: Backbench Business Committee on 15 October 2013
• Uncorrected transcript of oral evidence heard on 15 October 2013

Backbench Business Committee

The Backbench Business Committee meets weekly on Tuesdays at 3pm to consider requests for debates from any backbench Members of Parliament on any subject, including those raised in e-petitions or national campaigns.

An MP must make a representation before the Committee for an e-petition or petition to be debated; e-petitions exceeding the Government's 100,000 signature threshold are not automatically allocated backbench time.

The Committee then has to decide how to allocate the limited Parliamentary time it has at its disposal. The Committee's meetings are always conducted in public and can be watched on Parliament TV.

Further Information

• About Parliament: Select Committees
• How the Backbench Business Committee works