WhenTuesday, April 27th from 6pm to 8pm UK time
WhereOnline symposium via Zoom.
FormatThere'll be a great line-up of speakers plus ample scope for discussion and debate.
Why you should attend
This is an important symposium because:
- The Banking sector is at the very heart of our financial ecosystem. It has immense impact on the lives of billions of people around the world and even small imperfections in the sector can be detrimental to many
- The Banking sector was at the very heart of the cause of the Global Financial Crisis; and there remains a great deal of disagreement about whether the banking sector has been treated too favourably by regulators, policymakers, taxpayers and prosecutors during and since
- Bringing matters right up to date, there are allegations that even now there is malpractice, malfeasance, misconduct and mis-selling taking place within the sector
- We’ll be taking a look at evidence that suggests the regulatory approach to the banking is failing to drive the transformational reform that is so obviously needed
In particular, we’ll be taking a close look at what the evidence from Violation Tracker tells us about the propensity of the banking sector to disregard rules and regulations in the pursuit of profits; and even when caught and fined for unethical and/or illegal activity, to simply carry on misbehaving.
See here and draw your own conclusions on whether the banks see being fined for infringements and violations as “a cost of doing business;” and whether the regulatory framework is succeeding in creating a financial sector that is worthy of our trust and confidence.
Furthermore, beyond the financial consequences to the banks caused by their own misconduct, there is also the financial consequences to the victims of their behaviour such as:
- Those that become prey to scammers and fraudsters due to lax banking controls
- Those that lose their business properties or even their family homes as a consequence of predatory banking conduct
- Those that lose life-changing amounts of money through mis-selling by banks
And even worse than that, there are the non-financial costs to be taken into account as well, with an estimated 10,000 suicides in the UK, Europe and North America directly attributable to the consequences of banking misconduct.
The overall conclusion is that the banking sector has a great deal to answer for and one must wonder whether banking governance is simply not fit for purpose and long overdue for a strategic overhaul.
We want banks to authentically serve society, rather than exploit it; and we believe that only through radical reform of the sector will it achieve its potential as a force for good in the world.
Here's the programme and timings so far...
Welcome to the symposium, introductions and initial exploration of the main issues; by
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
Presentation #1, for 10 minutes + 5 minutes discussion/Q&A
MP for Thirsk and Malton
Co-Chair of the APPG on Fair Business Banking
Presentation #2, for 10 minutes + 5 minutes Q&A/Discussion by
Managing Partner, OMS LLP
Short leg-stretch & comfort break
Presentation #3, for 10 minutes + 5 minutes Q&A/Discussion by
Professor Nigel Harper
Moody’s Analytics Awarding Body Board Member
Moody’s Group Retail Banking Academy International
Presentation #4, for 10 minutes + 5 minutes Q&A/Discussion by
Director, Kreatoc Zest Ltd
The “Just a minute”-round
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 won’t be penalised for hesitation, repetition or deviation!
Speakers to be confirmed
General discussion and Q&A, 20 minutes
Final conclusions; and suggested next steps and close to the formal proceedings.
However, for those that want it…
8:00pm BST until 108:30pm BST
….informal, unstructured networking and informal conversation; a “fireside chat”
*The programme will continuously evolve so is subject to change.