This event has now taken place but you can watch the video recording of it through our Youtube Channel, get to it by clicking the button below
When
Wednesday, March 24th from 8:00am to 10:am UK timeWhere
Online symposium via Zoom.Format
There'll be a great line-up of speakers plus ample scope for discussion and debate.Why you should attend
Financial regulatory failure has become a massive public interest issue, right around the world.Â
This symposium is all about that.
Itâs a very special and a very important symposium because it follows straight on from our event last week, all about the Blackmore Bond scandal, where so much fresh, hard evidence of financial regulatory failure was revealed that we simply had to write to the UKâs Prime Minister to make him aware of whatâs been going on – we felt it our public duty to do so.
Hereâs the letter we sent to Prime Minister Boris Johnson last week. Through it, he (and now you) have access to all the evidence shown at last weekâs event i.e., the full video recording of all the testimony that was given, by all the speakers.Â
Due to popular demand, the event ran over by 2 hours and quite frankly, it could have gone on for several hours more! Over 150 people booked onto it. Â
If you have any interest in the workings of the financial industry and the way it is regulated this isnât an event to be missed.Â
We are âjoining the hemispheresâ for this one i.e. there are going to be subject-matter experts speaking from the UK and Australia, including some notable figures and Parliamentarians; and of course there will be attendees from both countries.Â
We are âjoining the hemispheresâ because it has become crystal clear that both the UK and Australia have been suffering from exactly the same kind of widespread regulatory failures, culture issues, conflicts of interest and so on. There is much that our 2 countries can learn from each other, so thatâs exactly what we are going to try to do.
This session will focus on what can be done to make real change happen. For senior policymakers, politicians and regulators looking for a âcureâ to the ineffective financial regulation both our countries indubitably have, this event will be a treasure-chest of creative, pragmatic and effective solutions worthy of serious consideration.Â
Weâll be considering questions such as:
- What do the recognised thought leaders, highly respected academics and street-wise practitioners say should be done?
- Should a legally-enforceable Duty of Care be introduced to cover the whole FS sector?
- Whatâs the best way to protect against regulatory capture?
- How do we prevent âRevolving Doorâ continuing to contaminate and corrupt the entire ecosystem with corrosive conflicts of interest?
- Should an Office of the Whistleblower be introduced?
- How can we ensure there is sufficient regulatory scrutiny and oversight of the regulators?
- Should regulators be required to be qualified?
- If the UK were to have its own Royal Commission, what are the key lessons that it should learn from Australiaâs Royal Commission?
- How do we achieve greater transparency on Ministerial interventions in relation to regulatory investigations, for example in relation to the British State Secret that is Sandstorm. If you want to know more about the scandal and why it is relevant even today, watch this video recording about the Sandstorm Scandal and more from literally just a couple of weeks ago in Parliament! Itâs about a culture of cover-up in Government âright up to Cabinet level.â We salute Lord Sikka for bringing his evidence and the many Peers that supported his recent effort to clean up the UKâs financial services sector by helping to get rid of fraud and corruption in The City of London. Nobody could possibly stand in the way of that, right? Apparently not right!
We would be very grateful if you were to join us for this symposium. The more attendees we can generate the more support for change we can achieve; and we desperately need all the support we can get.Â
This meeting is yet another step forward on our stated mission, which is to:
âpromote ongoing reform of the financial sector, so that it serves society betterâ
…as an antidote to the shockingly high levels of malpractice, malfeasance, misconduct and mis-selling that both the British and the Australian public have had to endure, for years.
Here's the programme and timings so far...
—————————————-8:00am GMT—————————————-
Welcome to the symposium, introductions and initial exploration of the main issues;Â byÂ
Andy Agathangelou
 Founder, Transparency Task Force; Governor, Pensions Policy Institute; Chair, Secretariat Committee, APPG on Pension Scams; Chair, Secretariat Committee, APPG on Personal Banking and Fairer Financial Services
—————————————-8:10am GMT—————————————-
Presentation #1, for 5 minutes including Q&A/Discussion by
Baroness Ritchie of Downpatrick
Member of the House of Lords
—————————————-8:15am GMT—————————————-
Presentation #2, for 20 minutes + 10 minutes Q&A/Discussion by
Dr Andy Schmulow
Senior Lecturer, University of Wollongong; Founder & CEO, Clarity Prudential Regulatory and Regulatory Consulting Ptdy Ltd; Senior Advisor, DB & Associates
—————————————-8:45am GMT—————————————-
Presentation #3, for 10 minutes + 5 minutes Q&A/Discussion by
Baroness Bennett of Manor Castle
Green Party Peer
—————————————-9:00am GMT—————————————-
Short leg-stretch and comfort break
—————————————-9:10am GMT—————————————-
Presentation #5, for 5 minutes + 5 minutes Q&A/Discussion by
Robin Ellison
Consultant, Pinsent Masons
—————————————-9:20am GMT—————————————-
Presentation #6, for 5 minutes including Q&A/Discussion by
Rob Roberts MP
MP for Delyn; Member of the All-Party Parliamentary Group on Personal Banking and Fairer Financial Services
—————————————-9:25am GMT—————————————-
The “Just a minute”-roundÂ
Inspired by the BBC Radio 4 programme, we have asked a selection of our attendees to spend just a minute sharing their thoughts on what has been covered during the symposium. But unlike the Radio 4 programme our speakers wonât be penalised for hesitation, repetition or deviation!
Speakers:
Dr Shann Turnbull
Principal, International Institute for Self-Governance
Kevin Nixon
Managing Director, Nixon Global Advisory
Peter O’Donnell
Director, New South Law
Paul Carlier
FX, Financial Markets & Banking Consultancy
—————————————-9:30am GMT—————————————-
General discussion & Q&A, 25 minutes
—————————————-9:55am GMT—————————————-
Final conclusions; and suggested next steps and close to the formal proceedings.
However, for those that want it…
10am GMT until 10:30am GMT
….informal, unstructured networking and informal conversation; a “fireside chat”
___________________________________________________________________
*The programme will continuously evolve so is subject to change.
Dr Andy Schmulow
Management Consultant, Academic, Advisor to Governments
Dr Andy Schmulow is an Australian legal academic specialising in financial system regulation, specifically Twin Peaks. His focus is on driving good conduct towards consumers and combatting regulatory capture. His advice has been sought by, among others, the Australian Banking Royal Commission, the Australian Law Reform Commission, the South African National Treasury, the Korean insurance association, the New Zealand Law Reform Commission, regulators, central banks and parliamentarians. His advice has been reflected in recommendations made by those bodies and in legislation such as the Financial Regulator Assessment Authority Bill in Australia and the Conduct of Financial Institutions Bill in South Africa. He was tasked by CGAP, a division of the World Bank, to lead in the creation of the worldâs first consumer-outcomes indicator framework, to measure consumer financial well-being, first in South Africa, and ultimately for deployment in countries comprising some 1.5 billion consumers. He consults to the financial industry on embracing and embedding fair treatment of consumers, and his research has been published in some of the worldâs leading peer-reviewed journals. He has held honorary positions at various universities around the world, and is a member of a research cluster at the European Banking Institute. He is admitted to practice in South Africa and Australia.
_________________________________________________________________________________________________________________________________________
Baroness Ritchie of Downpatrick
Member of the House of Lords
_________________________________________________________________________________________________________________________________________
Rob Roberts MP
Member of the APPG on Personal Banking and Fairer Financial Services
Rob is the Conservative Member of Parliament for the constituency of Delyn following the December 2019 General Election. Prior to being elected, Rob was a financial planner and worked in financial services for 16 years, working for large national firms and his own business in the constituency until merging with a firm just over the border.Â
Since being elected in December 2019, Rob has become involved in various APPGs linking to financial matters and interests including Anti-Corruption & Responsible Tax (Vice Chair), Financial Markets & Services, Insurance & Financial Services (Officer) and Personal Banking & Fairer Financial Services.
_________________________________________________________________________________________________________________________________________
Baroness Bennett of Manor Castle
Green Party Peer
Natalie Bennett was leader of the Green Party of England and Wales from 2012-2016, and became the second Green peer in the House of Lords in 2019. She spent 20 years working as a journalist on three continents, including on the Bangkok Post and as editor of the Guardian Weekly. She campaigns to abolish the City of London Corporation and is now working on tackling the Finance Curse and its disastrous environmental impacts through the Financial Services and National Security and Investment Bills.Â
_________________________________________________________________________________________________________________________________________
Robin Ellison
Consultant, Pinsent Masons
Robin Ellison is a practising UK lawyer (solicitor) and academic. He is a consultant with Pinsent Masons, the international law firm where he specialises in its London office in the development of pensions and investment products.. He acts for a number of foreign governments and government agencies and was adviser to the House of Commons Select Committee on Work and Pensions.
His study of regulation, Red Tape: managing excess in law, regulation and the courts was published by Cambridge University Press in London and New York in 2018. His book, Pension Fund Investment Law, was published by Bloomsbury Professional in 2008, and he now works with a wide variety of UK and international asset managers in relation to regulation and product design.
He is Visiting Professor in Pensions Law and Economics at The Business School, City, University of London.