Business of the House

Part of the debate – in the House of Commons at 12:17 pm on 29th March 2007.

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Photo of Barry Sheerman Barry Sheerman Chair, Education & Skills Committee 12:17 pm, 29th March 2007

Would my right hon. Friend agree that many of the great campaigns in this House start from an injustice to a constituent? Would he think of an early debate on the behaviour of Swiss banks operating in London outside of European Union regulation? Constituents of mine have lost £2 million through fraud. The fraudster used Pictet and Cie—a French bank—and Pictet Asset Management to back the fraud being perpetrated. My constituents can get no justice because Swiss banks operating in London are outside the normal parameters of European Union protection. Can we have a debate about what is going on with regard to Swiss financial services operating in this capital city of financial services?