Groups

Introduction

TTF is transforming into a membership organisation. One of the benefits for members is that they can participate in our Group meetings (as well as our events and symposia). See here for more information about the benefits of being a member. 
As well as being excellent for networking, our Group meetings are the ‘engine room’ of TTF’s campaign activity and they all benefit from the convenience of being run on Zoom.
As of Wednesday, 1st February, we have a new schedule for our Group meetings, whereby we will be using 4:00 PM to 5:00 PM UK time to run almost all of them. 
If you know which group you are interested in, please click on the correct group and you can access all the details, including meeting dates and times; otherwise you can scroll down to read about them all: 

How the Groups started

The first Transparency Task Force meeting was held on 6th May 2015 at Senate House, London University. We discussed the need to reform the finance sector so that it served society better; and we explored the correlation between transparency, truthfulness and trustworthiness.

We referred to the famous Margaret Mead quote:

 

Our call for ethical people to “stand up, not stand by” landed well – people volunteered to get involved.

Since then, through word of mouth, through our symposia, through our coverage in the press including the Financial Times,  Radio 4 and CNBC TV, through the Transparency Times and through many speaking slots at conferences in the UK and overseas, more and more people have heard about our aims and objectives and stepped forward to get involved.

The response to what the Transparency Task Force is all about has been profoundly positive because professionally-minded people align very naturally with what we call our ‘North Star’ question: “What’s best for the consumer?”

Our members have been organised and mobilised into our Groups.

How to access a TTF Group Zoom meeting
1st Friday of the month
4:00PM to 5:00PM UK time

Our Unfair Debt Group is for individuals and organisations focused on helping people to cope with, get out of and stay out of unfair debt; as well as those who are in some way suffering as a consequence of it. 

We are particularly interested in these issues:

  • Mortgage Prisoners, because they are being treated in a grotesquely unfair way through no fault of their own
  • Buy Now Pay Later, because consumers are not being dealt with transparently or fairly
  • Predatory Lending, such as some divorce funding loans, because of the lack of accountability and accountability

Meetings by special arrangement

 

This TTF Group is for those interested in the workings of the Money System and want to reform it to help solve significant fiscal and societal problems. 

It will appeal to those with an interest in the money system generally; plus, one or more of these significant issues in particular:

  • Murky Money: The world is awash with murky and dirty money, due to criminal activity such as illegal arms trading, corruption, money laundering, terrorism, child trafficking, fraud, armaments, the manufacture and distribution of drugs and do on. Some countries have a particular problem, including the UK which is known to be a world centre for dirty money. The TTF is committed to doing all we can to help reform the world’s money system so that its integrity is improved, and criminal activity is thwarted. In particular, we will be campaigning for an effective Economic Crime Bill for the UK, and something similar in other countries. 
  • Financial Stability: Even though we are well past ‘10 years on’ from the Global Financial Crisis there are many risks that have still not been mitigated fully. We are focused on understanding the true underlying causes of the Global Financial Crisis and the financial and human costs that have arisen because of it, because we wish to mitigate the risk of something similar ever happening again. Governments and Regulators around the world have still not yet tackled the dangerous deficit in the financial resilience and robustness that the world’s financial ecosystem needs. You can read the White Paper we presented in Parliament entitled “Ideas to Mitigate the Chance of Another Global Financial Crisis” which can be downloaded here.  
  • Central Bank Digital Currencies: This isn’t about Cryptocurrencies, this is about the remarkable reality that we are living through the conception and creation of a completely new money system, as Central Banks around the world are busily yet quietly planning the introduction of Digital Currencies. Our primary concern is that whilst Digital Currencies may bring advantages there are many risk and governance issues that have not yet been fully discussed. The lack of transparency and public engagement is potentially alarming, and the long-term consequences of the key decisions currently being made behind closed doors are very unclear. Some 50 years on from the haphazard way in which the world moved away from the Gold Standard into the Fiat Currency era, we find ourselves at the fault line of another paradigm shift without full cognisance of the potential adverse consequences.
  • Complementary/Regional/Local Currencies. This also isn’t about Cryptocurrencies! This is about the growing appeal of legitimate new currencies that can work alongside existing major national currencies such as Sterling, The Dollar and so on. History has shown many times that they have many inherent advantages including creating greater financial stability and an alternative means of exchange. Developments of such initiatives in many parts of the world are bringing them to the fore once again, so we want to shine a light on the possibilities and the practicalities in a collaborative, constructive and consensus-building way.
  • Cryptocurrencies: This is about cryptocurrencies! They are becoming an increasingly important component of the money system and the regulators around the world are playing catch up as they retrospectively look to implement aspects of regulation.
Meetings by special arrangement
 

 

Access Richard Emery’s thoughts on Protecting the Vulnerable from Authorised Push Payment Fraud below:

Richard Emery’s thoughts on Protecting the Vulnerable from Authorised Push Payment Fraud

Slides used at 11th Sept 2021 meeting

How LPA’S leave vulnerable people open to scams

Our Protecting the Wealth of the Vulnerable Elderly Group was initiated as a direct result of a presentation given at our first Financial Planning symposium, held in January 2020. One of the presenters, Seb Elwell, explained the big and growing problem of the risk of elderly people becoming victims of financial abuse and exploitation. 

Part of the problem is the way that the UK’s Pension Freedom reforms has meant that many elderly people will have very large sums of money that could be accessed by a wide range of people; from family members that have been granted inappropriate levels of control over that capital who have succumbed to temptation; all the way through to outright criminals that wouldn’t hesitate to find ways to trick the elderly into parting with their money. 

Seb explained how the problem can be likened to the “Fire Triangle” (oxygen, fuel and heat); because the combination of Accessible Wealth + Vulnerability + poor Supervision = Risk; and it’s that risk we want to mitigate.

This TTF Group will be developing a range of ideas, policy initiatives, regulatory reform proposals, legislative reform proposals and market conduct best practice initiatives to help better protect the elderly and their money. Those ideas will be centred around, but not confined to the ideas such as: incorporating better safeguarding into Lasting Power of Attorneys, optimising the use of Deputies, reforming the way the Court of Protection works, and so on.

This Group’s cause is both noble and necessary; and we’re pleased to report that an impressive list of “dream team” stakeholders have already stepped up to become “part of the solution.” 

Please do get in touch if you would like to be included – all help wanted and appreciated, however small.

2nd Wednesday of the month
4:00PM to 5:00PM UK time

Our new E.S.G.³ Group has evolved from bringing our Globalisation of Violation Tracker, Governance, Culture & Conduct, Global Financial Services Oath and PISCES Groups together. 

 

E.S.G is a passionate group dedicated to harnessing the potential of professional pledges, oaths, and affirmations to foster positive conduct within the Financial Sector. Our collaborative efforts aim to develop universally applicable pledges and oaths, drawing from international best practices and the latest thought leadership in this crucial area.

Our ideal oath possesses key characteristics, ensuring it is comprehensive and impactful:

  1. Universality: It applies across the entire financial services sector, avoiding specific market references.
  2. Global Reach: Our goal is to create a global oath, applicable across borders.
  3. Positive Influence: Its purpose is to positively influence conduct.
  4. Ethical Commitment: It emphasizes ethical behavior, transparency, and trustworthiness.
  5. Accountability: Professionals willingly accept consequences for breaches.
  6. Influence and Responsibility: We recognize that each person’s conduct influences others and promotes accountability.
  7. Speaking Out: We encourage a requirement to report misconduct when encountered.
  8. Free and Welcoming Donations: The oath is freely accessible, with donations to support our cause welcomed.

Our initial draft of the oath sets the foundation for our aspirations:

“As a financial services professional, I hereby commit by way of this solemn professional oath, that I shall always act in an ethical, transparent, and trustworthy manner; and I shall accept the consequences if I do not. I recognize that my own conduct influences the behavior of others, and I know it’s my professional duty to expose any wrongdoing that I encounter.”

E.S.G aims to create a world where the capital markets become a powerful force for good. We cover a wide range of essential topics, including Purpose, Impact Investing, Sustainability, Climate Change, Environment, Social and Governance, and Socially Responsible Investing. The financial services sector wields tremendous influence over global outcomes, and our group is dedicated to making a positive impact in this space.

We welcome a diverse community of professionals and stakeholders eager to uphold the financial sector’s integrity. From governance experts to climate change activists, politicians to media professionals, asset managers to thought leaders – all are invited to participate.

At E.S.G, we place special focus on promoting Violation Tracker, a transformative database by the USA-based NGO Good Jobs First. This resource reveals corporate violations and penalties, spanning diverse issues from environmental pollution to financial fraud. Our mission includes supporting the international expansion of Violation Tracker, fostering transparency, and accountability.

Together, we envision Violation Tracker as a “Transparency Machine,” an “MRI Scanner for corporate malpractice,” and a “Sindex.” Our cause is noble and necessary, and we’re delighted that a dream team of stakeholders has already joined forces to make Violation Tracker UK a reality.

If you share our vision, we invite you to join E.S.G and contribute your expertise, no matter how small. Let’s work together to build a financial sector that upholds ethical standards, positively impacts the world, and leaves a legacy of responsibility for future generations.

Explore Violation Tracker and be part of this transformative journey with us. Together, we can make a lasting difference!

 

Download “Why the UK needs Violation Tracker” here:

Violation Tracker – Why the UK Needs It

Watch this video about bringing Violation Tracker to the UK

Download a table of stakeholders already engaged with our “Bringing the Violation Tracker to the UK” project

Stakeholders already engaged with our Bringing the Violation Tracker to the UK project as at 22nd September 2021

Download a PDF of the Violation Tracker UK Comments of suppport

Violation Tracker UK Comments of Support as at 2nd February 2022

Download slides of the Launch of the Violation Tracker; and why that’s good news for our pensions sector

The Launch of the Violation Tracker;and why that’s good news for our pensions sector

Download a PDF of “New UK Enforcement Database reveals extent of corporate misconduct” – Thomson Reuters

New UK Enforcement Database Reveals Extent of Corporate Misconduct – Thomson Reuters

Article by Maggie Pagano published on 1st October

“Britain’s bankers to be put into the spotlight
with new Violation Tracker. But will it change behaviour?”

2nd Tuesday of the month
4:00PM to 5:00PM UK time

Group Leader

Mark Bishop,

Leader, Connaught Action Group

The Woodford Campaign Group is for investors that have lost money as a result of the Woodford scandal.

There has been much talk and many pages written about the Woodford scandal. It’s a scandal that centres around a rockstar fund manager’s fall from grace; a scandal that has led to life-changing financial losses that have shattered the lives of thousands of investors; a scandal that has rocked the investment world and the regulatory framework that’s supposed to govern it.

The purpose of the Woodford Campaign Group is to get full answers to 4 key questions:

#1 – What happened?

#2 – Who’s to blame for what happened?

#3 – How might the thousands of victims get the justice and compensation they deserve?

#4 – What changes are needed to help ensure that nothing like it ever happens again?

Meetings by special arrangement

Our Authentic Communications Group is for individuals that like the idea of working collaboratively to help improve the standard of communications throughout financial services.

Transparency generates data that has the potential to be useful. Whether it is useful or not depends on how well the data is turned into clear and intelligible information; and that’s the job of communications and communications professionals.

Meetings by special arrangement
 
 
 
 

Financial Technology is a natural ally of transparency and all that the TTF is looking to achieve, because:

  • Fintech makes possible the systematic production and reporting of data that consumers need to make well-informed decisions about financial matters
  • Fintech can drive down the sector’s cost base through enhancing and harnessing interoperability; thereby enabling consumers to get better value for money from the financial products and services they use
  • Fintech can drive interoperability across the industry as a whole, providing the consumer with a more “joined up” user experience as well as far superior data security

TTF’s Fintech, Interoperability and Open Finance Group is therefore for individuals representing organisations that have technologies available that positively align with the TTF’s overall aims and objectives to help drive better outcomes for consumers.

Meetings by special arrangement

Financial Planning, when done well, is hugely valuable but there is a great deal of variance in the levels of quality, transparency and professionalism in the sector. It is clear that whilst some financial planners operate to the very highest ethical standards, embracing transparency as a force for good; others seem not to. 

This Group is for those in the financial planning profession that want to help drive greater professionalism into the sector.

The present campaign objective is to explore how to improve the quality of safeguarding within Lasting Powers of Attorney; an area we know to be highly problematic and at risk of widespread malpractice. 

Secretariat Committee to the APPG on Personal Banking & Fairer Financial Services
 
Meetings by special arrangement

 

The TTF provides the Secretariat for the APPG on Personal Banking & Fairer Financial Services. 

The Secretariat operates through a Secretariat Committee.

A separate website has been developed for the APPG on Personal Banking & Fairer Financial Services; you can access it here.

#femalesforfairerfinance
 
Meetings by special arrangement
Watch a video of the 0ctober 8th 2020 meeting

This TTF Group is inspired by the belief that:

“If it had been Lehman Sisters instead of Lehman Brothers, the financial crash might never have happened”

 

… as mentioned by Christine Lagarde back in 2012. 

We are very keen to help ensure that the female perspective is given every opportunity to be proactively promoted. The purpose of the Group is to provide a forum in which ladies can share their thoughts about what is needed to influence the workings of the financial services sector so that it can do a better job of serving society. 

There have been many amazing women who have positively influenced the way the financial services sector functions.

In particular, Iceland’s Halla Tómasdóttir has been an inspiration for the formation of this Group. If you aren’t yet familiar with Halla, her work or her values, here’s a great place to start – watch this!

Of course, all females are welcome to join and lead the Group.

4th Thursday of the month

4:00PM to 5:00PM UK time

 

We believe that financial services whistleblowers provide a very positive benefit to society but we also believe that the authorities often fail to protect them. 

Our whistleblowing group is focused on what can be done to better protect whistleblowers and ensuring that all stakeholders, especially the financial regulators, deal with whistleblowers in a supportive and protective manner.

We will also be doing what we can to help whistleblowers who have suffered as a consequence of reporting any kind of malpractice, malfeasance, misconduct or mis-selling in the financial services sector. 

Furthermore, this group will draw attention to the contributions made by particular whistleblowers by awarding a “Whistleblower’s Trophy” from time to time. 

Finally, we shall also be researching the experience that whistleblowers have had when interacting with the Financial Conduct Authority and other organisations. 

Pensions & Investments Transparency Group
 
4th Friday of the month

4:00PM to 5:00PM UK time

The Pensions and Investments Group is shining a light on many issues that are relevant to driving good outcomes for pension and investment savers.

The scope of the Group is very extensive – we consider issues relating to Auto Enrolment, DC Pensions, DB Pensions, CDC; accumulation and decumulation. 

In general terms our focus will be on what reforms are needed to maximise the value for money that pension savers get. The Group’s specific campaign objectives will be decided by its members, as with all our groups, but here are some of the possibilities:

Our Group is also about encouraging the world’s investment industry to behave in a more progressive and pro-consumer way; to be more determined to put their clients’ interests first, wherever possible. 

  • Value for money
  • The Net Pay/Relief at Source scandal
  • Regulatory arbitrage between GPPs and MasterTrusts
  • CDC; how can we help build the momentum?
  • DB liabilities – do they need recalibrating?
  • Scheme governance – is it as good as it should be?
  • Scheme consolidation – would members be better off
  • Help encourage reform of the investment sector so that consumers get a better experience and better outcomes
  • Facilitate collaboration between investment industry stakeholders to encourage pro-consumer reform
  • The Group was initiated in response to the UK’s Financial Conduct Authority’s Asset Management Market Study which was justifiably critical of the way parts of the investment industry have been operating. 

    This Group has members in many parts of the sector including:

    • Asset Management
    • Private Equity
    • Hedge Funds
    • Investment Consulting
    • Fiduciary Management; and so on

We have already had some great successes including some ground-breaking research on costs & charges that made it all the way to the front page of the Financial Times.

Furthermore, our efforts played an important part in the Work and Pensions Select Committee opening an enquiry into costs and transparency in pensions and investments.

Meetings by special arrangement

This TTF Group is for people interested in the vital role that leadership can play in helping to reform the financial services sector. 

This Group is focused on increasing understanding about what makes values-based and virtues-based leaders “tick” and how to help spread their positive influence around the sector. 

We are creating the International League of Ethical Financial Services Leaders to be a network of leaders within the financial services sector that have earned a great reputation for leading with a “principles before profit” mindset. These individuals are key to helping reform the financial services because they have first-hand experience of achieving great commercial success without compromising their integrity. 

We have produced some general videos about this Group’s work; see here.

We are also creating video interviews of values-based leaders; who are also playing their part in helping to write the Manifesto of the International League of Ethical Financial Services Leaders. That Manifesto is a very exciting work in progress.

Our Regulators Watch and Scambusters Group is for those that want to scrutinise the activity and effectiveness of financial regulators, be they in the UK or elsewhere. 

The Transparency Task Force is a “critical friend” to regulators. We see our value in helping to ensure financial regulators are aware of what more they could be doing to help protect the interests of consumers. We have always enjoyed a highly engaged working relationship with regulators. We see ourselves as being on their side (although it may not always seem that way to them), always thinking about what more can be done to become as effective as possible. 

If ever we feel there is a need to be critical, we will be critical, but in a constructive way. When we identify what we see as shortcomings we will always seek to offer pragmatic solutions as well. We sincerely hope that our “critical friend” positioning with regulators will be welcomed by all that are keen to receive constructive, well-intended feedback. 

This group will therefore appeal to individuals and organisations that want to play a part in constructively scrutinising regulatory activity. We are particularly interested in those that want to work with us to provide constructive, well-intended and Evidence-Based input that is designed to help protect the interest of consumers.

The group is likely to be especially useful to those that lead campaign groups that represent the interests of those that have been harmed by the financial services sector, especially if regulatory failure is recognised as having been part of the problem. 

We will always be keen to work collaboratively with like-minded endeavours around the world, such as The Revolving Door Project in the USA. 

Here are four areas on which we will be particularly focused:

Whistleblowing Loophole

 

Many scam victims have been battling for years to try to get the justice they deserve. In some cases, they have lost everything. 

There have even been some that have paid the ultimate price for the activities of dishonest people that have tricked them out of their life savings and pension funds i.e. they have taken their own lives. 

We are doing a huge amount of work in this space, actively looking for ways to help the public to be better protected from being scammed in the first place; and to provide them with more and better support if they have become a scam victim. 

We believe this Group is needed because:

  • There has been widespread malpractice, malfeasance, misconduct and miss-selling by people in and connected to the financial services sector
  • There has also been a huge increase in the amount of scamming, fraud and financial crime taking place  
  • Those harmed often find it very difficult to get redress and justice
  • The lack of an effective class/group action system in the UK represents a significant barrier to justice
  • The lack of a support framework for victims makes a very bad situation even worse

We believe there is substantial value in bringing together those who have suffered and those that may be able to help.

A large, collective effort is needed to:

  • Create an effective campaign approach to drive the much-needed reform of the system
  • Constructively and confidently challenge “the establishment” including the regulators when it is appropriate to do so, with the intention of driving reform where needed
  • Create the critical mass required to make the professional input needed from specialists including legal professionals, more economic and more efficient
  • Enable the efficient and valuable sharing of intelligence and insight
  • Ensure there is sufficient political support to drive through the many regulatory changes that are needed
  • Be a representative collective voice for those that have been harmed
  • Harness the vital support of the media.
1st Tuesday of the month

4:00PM to 5:00PM UK time

 

TTTF’s Brits Scammed Abroad Group is for people who have  strong interest in the way that scammers tend to operate internationally, exploiting the many flaws in the lack of joined up thinking amongst authorities, governments and regulators around the world.

The Group’s focus will be on seeking to better understand what the barriers are that seem to be preventing international collaboration, regulation, investigation, enforcement and prosecution of the perpetrators.

This is a particularly important TTF Group because all the evidence suggests that a very high proportion of scamming, including of course, Pension scams, involves some kind of international activity. 

4th Tuesday of the month

4:00PM to 5:00PM UK time

 

 

The Foreign Exchange market is full of opacity that adversely affects consumers and institutional investors. Our FX Group published a constructive critique of the Global FX Code in July 2017, explaining why the Code doesn’t go far enough to make costs in FX sufficiently transparent. The White Paper drew acknowledgement and response from the Competition & Markets Authority and the Economic Secretary at HM Treasury. The Group continues to shine a light on the reforms needed to help create a fair, transparent, competitive and efficient FX market that delivers value for money to the individuals and institutions that use it.

Similarly, the Payments Sector is a remarkably important part of the financial ecosystem and it is in desperate need of reform to help ensure the consumer is being treated fairly.

Our members interested in Payments will:

  • Help ensure consumers are not being adversely effected by hidden costs being applied to themselves or the retailers they make purchases through
  • Highlight the importance of payments as a financial services product in its own right, as well as payments being a critical UK and global economic infrastructure
  • Inform stakeholders of the major changes in the payments market, especially the replacement of cash with digital payment methods
  • Share knowledge on major market and regulatory developments, such as Open Banking and the Revised Payment Services Directive (PSD2) 
  • Respond to strategic regulatory and policy initiatives, such as the UK future of cash review and EU payment card regulation review
Meetings by special arrangement

Our Banks and Building Societies Group campaigns for business and retail customers to be treated in a more transparent way; for example, by changing the way Banks describe their ‘free if in credit’ current accounts and how charges are applied. 

The highlight so far has been the publication of a well-received White Paper on our reform proposals, presented at special meeting held at the House of Commons in June 2017 and Chaired by Lord Cromwell. The event and White Paper was covered by The Times. Very good progress has been made on the opacity of costs and charges front; and we are now looking at what more can be done for Banks to properly support those that have been scammed.

One of the Group’s members, Heather Buchanan, is Director of Policy & Strategy at the All Party Parliamentary Group on Financial Stability; which the team actively supports.

Another member is Richard Emery, who is a seasoned campaigner for banking reform in relation to matters such as Push-Payment Fraud. 

The Group has recently welcomed members from Building Societies as well. We are interested in the potential benefits of mutuals and cooperative organisational structures when it comes to governance, culture and risk. 

Academics
 
#academicsforfairerfinance
 
Meetings by special arrangement

There are many academics around the world that have an interest in the workings of the world’s financial ecosystem.

Many such academics have a great deal to offer in terms of their insight, understanding and research on topics that matter a great deal to the TTF community.

The purpose of our Academics Group is to create a forum whereby academics around the world that have an active interest in the financial services sector can informally discuss their work, interests and academic aspirations with a view to developing consensus around what the major issues are and what could be done about them.

Ultimately, as with all the TTF groups, we are striving to bring together honest, ethical people that have a desire to help drive the positive, progressive and purposeful reform that is so desperately needed.

All academics are welcome regardless of where they are in the world, their perspective or their seniority.

4th Wednesday of the month

4:00PM to 5:00PM UK time

 

 

Our Revolving Door group is for TTF members who are willing and able to help tackle this significant problem. We are working collaboratively with a range of stakeholders both in the UK and on an international basis, including: 

Sabrina Pignedoli MEP, who is leading a pan-European project to promote the importance of tackling the Revolving Door problem. Sabrina is based in Brussels and Rome 

•Jeff Hauser, who runs The Revolving Door Project and is based in Washington DC

•Andy Schmulow, Associate Professor, School of Law, University of Wollongong, Sydney, Australia

•Alberto Alemanno, Jean Monnet Professor in European Union Law, based in Paris

To get a feel for just how bad the Revolving Door problem can be, watch this short You Tube clip of Senator Elizabeth Warren talking about a remarkably good example: https://www.youtube.com/watch?v=h28hSgVgSTM

 
Meetings by special arrangement

This TTF Group is for those interested in helping to drive improvements in data infrastructure and regulatory reporting throughout the financial services sector through the optimisation of interoperability and data standards.

TTF’s interest in this topic is that better regulatory reporting will lead to greater transparency, lower operating costs for the sector, better data security, better consumer outcomes and so on.

There are enormous benefits to be had through developing more and better data standards within the financial services sector; but the barriers to progress are significant.

There are technical challenges to be overcome and there is obviously the need for all stakeholders to adopt a highly collaborative mindset for there to be any real hope of significant progress. Fortunately, we have assembled a highly talented, highly motivated and highly collaborative group, with tremendous subject-matter expertise

Participants come from around the world and have a wide range of perspectives; but they are united in the desire to help drive transformational change in the use of data standards for the financial services sector, particularly in the regulatory reporting space. 

Meetings by special arrangement



There is a mountain of evidence suggesting that the insolvency rules are being weaponized, enabling highly lucrative scams that are enriching the few, at the expense of the many. This TTF group is dedicated to shining a bright light on this issue, in the firm belief that “sunlight is the best disinfectant” and in the hope that by doing so we can help to drive the positive, progressive and purposeful reform that is so desperately needed. 

The evidence suggests scams are being perpetrated by white collar “professionals” who target solvent people and seek to take control over their assets by engineering a fabricated bankruptcy. 

Weaponizing the insolvency rules creates a system whereby the bankrupt is “padlocked” into a state of helplessness and inaction, paralysed by the insolvency process and unable to defend their interests. As a consequence they are unable to get recourse through the Courts and can only watch the systematic stripping of assets from their personal estates. Investigation, analysis and reports about this issue have shed some light on the disgraceful and abhorrent behaviour of some insolvency practitioners, solicitors, barristers, accountants and Judges; but the truth could be even worse than that. 

Perhaps what we know is just the tip of the iceberg!

There are many angry and disappointed victims yearning for justice. They speak of how their lives have been ruined and their personal wealth obliterated.

Personal bankruptcy of individuals by financial institutions has become common practice because it is easy to carry out, requires minimal grounds, is highly profitable, virtually impossible to fight and the victims are no match for their persecutors.

This report by the All Party Parliamentary Group does an excellent job of setting out some of the key issues:

Frequently asked questions

To attend any of the Group meetings you need to be a Member. You can find more information here: https://new.transparencytaskforce.org/becoming-a-member-of-the-transparency-task-force/

No – you can be involved as much or as little as you want

We are always seeking to build consensus around our North Star Question which is “What is best for the consumer?”

No – we welcome and want a wide range of views; you’ll be free to “say it as you see it”

We have monthly Zoom meetings for some of our Groups that last just 1 hour, so it’s not too onerous at all. Furthermore, there is no need for you to make every meeting, just those that are convenient for you. 

Other Group meetings will take place by special arrangement.

Each of the Groups has one or more campaign objective. If you want to be involved in helping to drive a particular campaign forward you can; but there is no compulsion to do so. 

Yes you can. We would hope that as time went by you would want to participate in our activity but there is no compulsion for you to do so

Generally speaking we follow these steps; always building consensus through frank and open discussion as we go and always seeking to work together in a constructive, cooperative and collaborative manner:

  • Step 1: We identify a part of the financial services sector that we believe could function in a better way for the consumer
  • Step 2: We reach out to people with subject-matter expertise in that particular part of the market who might be keen to work collaboratively with others to help improve the way that part of the market functions

  • Step 3: We organise and mobilise the volunteers into a solution-orientated Group

  • Step 4: We facilitate the development of the Group’s objectives and a pragmatic campaign strategy to achieve those objectives

  • Step 5: We liaise with relevent members of the press, regulators, parliamentarians, government officials, leading academics, thought leaders and so on to create supportive engagement, analysis and insight

  • Step 6: We implement the campaign strategy, which is normally a combination of activities such as research, producing White Papers, running Thought Leadership events, responding to consultations, holding meetings with key decision-makers and influencers, raising awareness through the press and so on

  • Step 7: We continue to facilitate the ongoing development of the Group’s work

Yes, please do. The TTF has grown by word of mouth so we would appreciate you doing whatever you can to let people you know have a chance to get involved. Please forward them a link to this web page so they can read about what we are doing and decide for themselves if they want to be included.

Further information about the TTF

You can click on the button below to read about the 130+ Transparency Task Force Ambassadors. The list includes world class academics and highly respected thought leaders from right around the world.

Click here to see the TTF Ambassadors

Transparency Task Force Advisory Group

You can click on the button below to read about the Transparency Task Force Advisory Group, which is Chaired by the former Chair of the Financial Conduct Authority’s Financial Services Consumer Panel.

Click here to see the TTF Advisory Group

If you want to read testimonials…

If you haven’t been to one of our events before you can use the link below to read some testimonials:

Click here for Testimonials

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