FCA CEO’s office initiating and directing witch-hunts

For those that seek to help victims of financial wrongdoing, report financial wrongdoing, or blow the whistle, and particularly where you might have exposed failings and/or dishonesty by the Financial Conduct Authority (FCA), either currently or previously, make no mistake, The FCA and its senior executives will act no differently to common criminals so as to save their skins.

March 15th 2022 was the third anniversary of my successful ‘pro-bono’ (A case taken on for free, with no request or expectation of any payment) intervention on behalf of a Birmingham Midshires (Part of Lloyds Banking Group (LBG)) mortgage customer and widow, who was likely to lose her home and the small portfolio of properties left to her following the scent passing of her husband.

The customer had been advised that a law firm had been instructed, and said law firm, TLT, had informed the customer that LPA Receivers were being instructed within the week. For those with no experience of LPA Receivers, these are the very definition of unregulated parasites that banks turn to so as to circumvent County Courts and to do their bidding. If you are subject to the instruction of LPA Receivers, kiss goodbye to your properties and any equity that you have in it.

I submitted a formal complaint to the bank and included a proposal that would afford the customer time to clear arrears that had resulted due to a Probate dispute, by way of remortgaging elsewhere or selling one of the properties, all of which had significant equity, and use the proceeds to clear the arrears.

Less than four hours after submitting the complaint and this proposal, the bank accepted it and immediately dis-instructed TLT, removing the threat of repossession and the LPA receivers.

The mortgage customer was able to retain all of their properties and preserve all of the equity that was her inheritance.

I believed that to be the end of a successful intervention. However, on my emailed complaint and proposal to the bank on 15th March 2019, I had also copied Matt Brewis of The FCA. Brewis worked exclusively in the CEO’s office and as private secretary to the CEO, Andrew Bailey, who is now the Governor of the Bank of England.

What followed is a quite extraordinary sequence of events. A witch-hunt conceived on behalf of the CEO, numerous counts of dishonesty by those working on behalf of the CEO’s office, and subsequently on 21st December 2021, dishonesty by senior executive/s in The FCA ‘Risk and Compliance Oversight Division’ who made false representations and sought to conceal & suppress evidence, so as to deny my allegations.

I have this week submitted a formal complaint to The FCA CEO, Nikhil Rathi and FCA Company Secretary, Simon Pearce. I have advised them that I am publishing it here as an ‘Open Letter’. The time for concealment is over.

I therefore include below this formal complaint letter in its entirety. It is a comprehensive document that includes the substantial evidence that I now have, including internal FCA documents, and that expose the full extent of the dishonesty by The FCA and its senior executives. So much so that Mr Jones complaint response letter actually contradicts the findings of The FCA investigation into my complaint.

I have not redacted any FCA names from the document, but want to make it perfectly clear that Mr Bolton and Ms Jordan of The FCA CMC team appear to have conducted themselves with honesty and integrity throughout, despite being put in an incredibly difficult position by those senior executives in the CMC team and in CEO Bailey’s office. The same cannot be said in respect to those senior executives as you will see.

Of perhaps additional significance is that the dishonest internal narrative and actions that are pursued, and the dishonestly conceived and ‘pre-determined’ guilty positions of senior executives in Bailey’s office and the CMC Department, changes rapidly after this matter is featured in a media article. See paragraphs 51-54 of the letter.

In an email dated 28th June 2019 that is sent to Matt Brewis & Toby Hall of the CEO’s office, The FCA Press office and senior executives from the CMC team, Grupetta and Hunter, the named person writes:

“Im conscious of the fact that Mr Carlier has now been to the press and so anything we say has the possibility of ending up in a similar forum.”

And from that moment on, the internal documents reveal that there is a dramatic u-turn in The FCA narrative, and The FCA eventually confirms that I have not breached CMC rules. A position it knew when making the false allegations in the first instance.

If you have nothing to hide, or are doing no wrong, then you have nothing to fear if what you say or do is published by the media. It rather confirms that those senior executives knew they were acting dishonestly and unlawfully.

The power, and importance, of the press in terms of shining a spotlight and appropriate scrutiny on such matters. A spotlight that is so very much required so as to hold those in authority to account and expose their wrongdoing or failures. I am certain that but for that media spotlight on this particular matter, that falsely contrived and adverse outcomes against me would have been engineered by those senior executives involved.

By all means read the formal complaint letter below and draw your own conclusions.

Formal Complaint letter to The FCA CEO and The FCA Company secretary

Related Post

Leave a Reply

Your email address will not be published.