Transparency Task Force

🗞️ Risk of ‘dangerous drift’ if regulation shifts from protection to growth 👇 ftadviser.com/content/9d97de… @johnmcdonnellMP @premnsikka @MoorgateMermaid @FTAdviser

🖊️ Government: Consultation outcome FS Sector Strategy: Regulatory Environment - Cross-Cutting Reforms 👇 Here’s a snippet from the webpage: “This document provides a summary of the key themes raised by respondents in response to the questions in the consultation and notes the government’s final policy position on the proposals within the consultation. The government will bring forward primary legislation to deliver the reforms when Parliamentary time allows.” You can access full details here 👇 gov.uk/government/con…

🖊️ TTF's Response to the FCA’s Consultation Paper CP26/9: Modernising the Redress System 👇 transparencytaskforce.org/wp-content/upl…

📺 We have just uploaded the recording of the event we ran on Tuesday, entitled: “When Complaints Are Processed - But Justice Remains Unresolved: Fixing the Inequality Engine in Financial Services” The speakers were: ●     Nigel Cairns, TTF Volunteer & Member of the Secretariat to the APPG on Investment Fraud & Fairer Financial Services ●     Ian Tyler, Independent Chair, NED & Senior Advisor ●     Professor John Ashton, Professor of Financial Regulation, University of York You can watch the recording here 👇 youtu.be/RHcyUqJK-NM If you can, please share this video widely within your network/on social media. 🗣️ Andy Agathangelou says: "Tuesday's event sparked an important, insightful and highly constructive discussion about how accountability really works in financial services. Nigel, Ian and John articulated some incredibly important points with real precision and conviction - superb thought leadership that gives us all a strong foundation to build on. Their arguments were clear, calm and compelling - all their presentations brought great insight, credibility and clarity to the conversation around accountability and complaint handling in financial services."

📢UPCOMING EVENT: “How AI Can Turbocharge Your Life Planning: Restoring Human Agency in a Complex World” 🗓️Tuesday, 19th May 2026 ⏰6:00pm-7:00pm BST 📍Zoom In a world of increasing complexity and, at times, structurally untrustworthy systems, the most valuable asset is no longer just financial capital - it is the ability to think clearly, make informed decisions, and act with confidence. In this session, Steve Conley, Founder of the Academy of Life Planning, will explore how artificial intelligence is transforming financial planning - not by replacing advisers, but by restoring human agency. Attendees will gain insight into: 💠Why the traditional “advice-led” model is being reshaped by AI 🔎How individuals can use AI to understand their financial position and make better decisions 🛠️Practical tools and frameworks that support planning before, during, and after financial harm 👜The concept of the Total Wealth Planner - an individual equipped to navigate complexity, stress, and change with clarity and independence The session will demonstrate how AI can act as a “second brain,” helping people organise information, surface risks, and improve decision-making in real time - without surrendering control. Click here for full details to book your free place 👇 transparencytaskforce.org/how-ai-can-tur…

📺 THE SEED - Mortgage Swindles, Banks & HM Land Registry Fraud Allegations (Victims Speak Out) 👇 youtube.com/watch?v=DRcS6U…

🖊️ GOVERNMENT: POLICY PAPER - FRAUD STRATEGY 2026 TO 2029 Here’s a snippet from the webpage: “The Fraud Strategy is for individuals, businesses, industry partners, law enforcement, regulators and non-profit organisations. It is also relevant to anyone involved in preventing, detecting or responding to fraud across the UK and the general public who are interested in fraud prevention. The strategy sets out the government’s new approach to tackling fraud. It explains how the UK will disrupt the methods used by criminals, strengthen protection for the public and businesses, and improve how victims are supported. It also outlines a major investment programme and the governance arrangements that will oversee delivery.” You can access full details here 👇 gov.uk/government/pub…

🗞️ A public inquiry into the swaps mis-selling scandal is needed now 👇 archive.is/MQrfx @johnmcdonnellMP

@CarshaltonArt @stevemiddi1 @ArturNadol7566 @efgbricklayer @Carlier_J87 @TransparencyTF Remember when Clifford Chance were involved with the IRHP review in a dual role as a tracking regulatory advisor for financial sector clients and as an independent investigator evaluating linked commercial banking scandals…?  They were the primary legal analysts for the major high-street banks. They tracked the weekly regulatory updates, evaluating opt-in volumes, redress determination metrics, and the legal implications of the banks’ voluntary compensation protocols. Which is where the contradiction arose with Clifford Chance’s involvement. Whilst they did not act as the FCA appointed independent "Skilled Person" for the IRHP review, they were hired directly by the Royal Bank of Scotland (RBS) to conduct an internal investigation into the bank's controversial Global Restructuring Group (GRG). In 2013, following the release of the government's damning Tomlinson Report, RBS instructed Clifford Chance to lead an internal review to determine if the bank had systematically defrauded distressed Small and Medium-sized Enterprises (SMEs). Many of these distressed businesses had been driven into GRG due to the crippling "break costs" of mis-sold IRHPs. The findings in Clifford Chance’s final report concluded that while there was evidence RBS could have handled distressed customers better, it found no evidence that the bank systematically set out to defraud or mistreat its clients. The Treasury Select Committee and SME advocacy groups heavily criticized the Clifford Chance report. Parliament officially branded the firm's findings a "whitewash" meant to insulate the bank from liabilities. Lawmakers explicitly declared that the Clifford Chance review should not be viewed as a "clean bill of health" for RBS, demanding the deeper, independent FCA forensic review that eventually uncovered systemic, widespread misconduct within GRG. This didn’t stop them becoming involved in the subsequent 2025 APPG on Fair Banking v FCA Judicial Review, where they described how they utilised their deep institutional memory of the IRHP "sophistication test" failures and advise clients on modern enforcement actions. The firm’s current regulatory litigation teams are heavily drawing on the lessons learned from the IRHP review to consult on the design of the FCA's 2025/2026 Motor Finance Discretionary Commission Arrangement (DCA) compensation scheme. They are utilising everything learned from the IRHP redress scheme structural boundaries to advise lenders on how to calculate mass consumer redress safely and avoid decade long judicial reviews.  They’re the FCA’s favourite ambulance chasers making sure the victim is DOA. There’s been a lot of protection money made out of the #IRHPscandal

📢 UPCOMING EVENT: “The King’s Speech and the Fight for Financial Services Consumer Protection – What Happens Next and What We Must Do” 🗓️Thursday 14th May 2026 ⏰6:00PM-7:00PM BST 📍Zoom The latest King’s Speech could have major implications for consumer protection in UK financial services. This important discussion will examine proposed reforms linked to regulation, competitiveness and oversight - and what they could mean in practice for: • The Financial Ombudsman Service • Consumer redress and access to justice • Payment fraud protections • Consumer Credit Act rights • The future role of the FCA and Consumer Duty 🔎The session will explore whether current reforms are strengthening trust and accountability - or risking the erosion of vital consumer safeguards. It will also consider whether stronger legal duties, including fiduciary obligations and enforceable duties of care, are needed to rebuild confidence in the system. As the next Financial Services Bill approaches, these debates are becoming increasingly important for consumers, regulators, policymakers and the wider financial services sector. Click here for full details and to book your free place 👇 transparencytaskforce.org/the-kings-spee…

UK TOP FINANCIAL WATCHDOG HAS A TRANSPARENCY PROBLEM Ahmet Latif spent six years at the Financial Conduct Authority (@TheFCA). His job was managing information disclosure and data protection. From 2020, he kept telling his bosses the same thing: his 12-person team was understaffed, overwhelmed, and the FCA was routinely breaking the law on Freedom of Information requests. Not bending the rules. Breaking them. An internal FCA review, observed by the Financial Times @FT, found that 17 out of 18 FOI requests sampled had been handled improperly. Latif escalated. He emailed the FCA board chair and CEO Nikhil Rathi directly, warning that the FCA's whistleblowing process was broken and that he was being victimised. He received no reply from any of them. Not one acknowledgement across five emails. So he started preserving evidence. He forwarded documents to his personal Gmail. The FCA's internal surveillance team caught him during a sweep called Project Stone, which had flagged 43 employees for similar data transfers. Latif was suspended, then dismissed in February 2023 for gross misconduct. He brought an employment tribunal claim in March 2025 at East London Employment Tribunal, representing himself, unrepresented, against an FCA legal team backed by a full barrister and instructed solicitors. He is seeking reinstatement and £115,981 in compensation. The FCA's position: he was fired for sending sensitive information outside the organisation, not for whistleblowing. The FCA denies any wrongdoing. FCA's actual job includes setting rules that require financial firms to have robust whistleblower protection. They publish guidance on it. They monitor compliance with it. They fine firms that get it wrong. They couldn't manage it themselves. Judgment is awaited. Sources: Mouse in the Cour | Yahoo News / @thetimes | @TransparencyTF

2) @LucyRigby Please end your silence and do the job you wanted to do when you became an MP. Fight for the people of this country and allow victims of bad banks to have either a truly public enquiry or a royal commission.

Excellent news for those requiring justice for 2002-12 Derivatives / Hidden (margin) Credit Line Fraud by banks & FCA Mr Brown is intimately aware of all the relevant activities @stevemiddi1 @TransparencyTF @appgonifandffs @johnmcdonnellMP @premnsikka bbc.co.uk/news/articles/…

📺 We have just uploaded the recording of the event we ran on Tuesday, entitled: “AI and Finance: Power, Risk and the Future of Regulation” The speaker was: ●     Prof. Dr. Umut Turksen Turksen, Professor in Law, University of Exeter You can watch the recording here 👇 youtube.com/watch?v=6nUmaB… If you can, please share this video widely within your network/on social media. 🗣️ Andy Agathangelou says: “Tuesday’s event was a very interesting and highly topical discussion. Dr Umut Turksen brought deep expertise, practical insight and thought-provoking perspectives on the opportunities and risks surrounding AI in financial services. The session sparked some great discussion and debate around AI governance, regulation, transparency and the future implications for the financial sector. Many thanks to everybody who participated and contributed to such an engaging conversation.”

📢 UPCOMING EVENT: “When Complaints Are Answered – But Not Resolved: How Accountability Really Works in Financial Services” 🗓️Tuesday, 12 May 2026 ⏰6:00PM-7:00PM BST 📍Zoom Across a growing number of cases in financial services, serious concerns are raised, investigated, and debated - yet often remain unresolved in any clear or final sense. 🔎This session will explore why🔍 Rather than focusing solely on individual examples of misconduct or regulatory failure, the discussion will step back and examine how the system itself operates in practice. In particular, it will consider the distinction between complaints being processed and issues being properly determined. Drawing on a range of recent and historical cases, the session will look at how concerns move through the system - between firms, regulators, redress schemes, and the courts - and why, in some instances, no single body provides a clear, reviewable answer to the core issue raised. The aim is to contribute to a more informed discussion about how accountability functions in practice, and what may need to change if confidence in the system is to be restored. Click here for full details and to book your free place 👇 transparencytaskforce.org/when-complaint…

📺 VIDEOS TO WATCH ON TTF TV We have just uploaded the recording of the event we ran last Tuesday, entitled: “Exposing Corruption: Laurence Cockcroft on Money, Power and Ethics” The speaker was: ●     Laurence Cockcroft, Co-founder, Transparency International You can watch the recording here 👇 youtube.com/watch?v=vYn3uf… If you can, please share this video widely within your network/on social media. 🗣️ Andy Agathangelou says: “Tuesday’s event with Laurence Cockcroft was both powerful and thought-provoking. His deep expertise and unwavering commitment to exposing corruption gave attendees real insight into one of the most important issues of our time. We’re delighted with how the event went and grateful to Laurence for sharing his knowledge, insight and wisdom with us.”

@TransparencyTF @efgbricklayer @MLorrM @stevemiddi1 The bank’s concealment of the swap’s margin obligations (initial & variation) by way of a hidden credit line was a premeditated fraud from day 1. The regulator colluded to conceal that fraud and conspired to facilitate further frauds on SMEs = Bad Faith & Criminal conduct🔥

Well expressed Andy - “cheated into taking on contracts that were harmful to them”. All around Ireland & no doubt in the UK, there are ongoing recriminations between family members, whereby the duped individual who trusted the bank executives (as they were entitled to do) is considered blameworthy for being financially irresponsible - when they were (are) a targeted victim of fraud. Those same victims have been let down by non-independent lawyers & judges & now need: 🔹concerned & fearless public representatives & watchdog committees; 🔹zealous journalists; 🔹a judge led inquiry @BankConfidenti1 has offered to appear before the Oireachtas Finance Committee to explain the technicalities of the fraud and to present case studies on the devastating fallout. @Farrell_Mairead @JMcGuinnessTD @PearseDoherty @MaryLouMcDonald @kenoflynnTD @SimonHarrisTD @MichealMartinTD @jackfchambers

Biggest fraud ever! The key point is “nobody would have bought “! Nobody did buy! These products were an enforced condition of borrowing that didn’t exist previously. “Protection “ but not for the victims just for the banks! Huge earner day one