Financial Services (Banking Reform) Bill — Clause 4 — Full Separation of Ring-Fenced Retail Banking Activities — 8 Jul 2013 at 19:00

George Osborne MP, Tatton did not vote.

The majority of MPs voted against requiring retail banking divisions to be completely separated from other bodies, such as investment banks, within five years.

MPs were considering the Financial Services (Banking Reform) Bill[1]. The amendment rejected in this vote was Amendment 18. Clause 4 of the Bill sought to introduce new clauses to to the Financial Services and Markets Act 2000; the rejected amendment sought to add an additional new clause titled Full separation introducing a General requirement of separation relating to retail banking elements of a banking group which have been "ring-fenced" in order to isolate banking activities where continuous provision of service is vital to the economy and to the customers of a bank[3].

The proposed requirement to separate stated:

  • Where the members of any group include one or more ring-fenced bodies and one or more other bodies, the members of the group must, before the end of the period of five years beginning with the relevant commencement date, take steps to secure that there are no members of the group that are ring-fenced bodies

The rejected proposed new clause provided for enforcement of the requirement via the removal of regulatory permission to carry on activities for those groups not complying.

Debate in Parliament | Source |

Party Summary

Votes by party, red entries are votes against the majority for that party.

What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.

What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.

What is Turnout? This is measured against the total membership of the party at the time of the vote.

PartyMajority (No)Minority (Aye)BothTurnout
Alliance0 10100.0%
Con234 (+1 tell) 1077.4%
DUP0 1012.5%
Green0 10100.0%
Independent0 1050.0%
Lab0 212 (+2 tell)082.9%
LDem40 (+1 tell) 1075.0%
PC0 1033.3%
SDLP0 2066.7%
SNP0 4066.7%
Total:274 225078.2%

Rebel Voters - sorted by party

MPs for which their vote in this division differed from the majority vote of their party. You can see all votes in this division, or every eligible MP who could have voted in this division

Sort by: Name | Constituency | Party | Vote

Andrew TyrieChichesterCon (front bench)aye
John ThursoCaithness, Sutherland and Easter RossLDem (front bench)aye

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