WhenThursday, May 20th 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
The USA’s Violation Tracker is an incredibly useful and user-friendly database on corporate misconduct. It can be thought of as “An MRI scanner for poor corporate governance” that covers all kinds of corporate infringements in all sectors that have been resolved by federal regulatory agencies and all parts of the Justice Department, since the year 2,000.
In all, a staggering 483,000 civil and criminal cases from more than US 300 agencies with penalties of $667 billion are included. It’s interesting to know that of all the infringements captured by Violation tracker, about half of the total amount of fines, a staggering $331,558,339,161 to be precise, is directly attributable to malpractice, malfeasance, misconduct and mis-selling by the financial services sector!
So, despite the fact that the financial sector ought to be one of the most trusted industries, the reality is sadly very different indeed.
And not only that, it’s also rather worrying for Brits that a British bank is amongst the top 10 worst offenders, in a database that captures infringements against only US authorities:
The good news is that on March 25th, Good Jobs First/Violation Tracker and TTF announced that that funding has been secured for the construction of Violation Tracker UK. That’s great news for everybody that is interested in ESG, corporate governance, infringements by banks and so on.
Violation Tracker UK will combine the records of the Financial Conduct Authority, the Employment Tribunal, the Pensions Regulator, the Bank of England, the Prudential Regulatory Authority, the Health and Safety Executive, HM Revenue and Customs, the Environment Agency, the Competition and Markets Authority, the Serious Fraud Office and over 40 more UK-based entities, aggregating all their violations data and thereby giving a valuable picture on which companies are breaking the rules.
Its design will resemble the original Violation Tracker, which has attracted a massive global user base and provides about 3 million page views per month.
We believe this is a significant development that will be of enormous benefit to anybody with an interest in corporate governance, ESG, responsible investment, “Building Back Better”, regulatory reform, environmental protection, climate change, the “business round-table multi-stakeholder agenda.” system change, “conscious capitalism” and so on.
As recent UK scandals make clear, HSBC, Lloyds Banking Group, RBS and so on have been central to some of the nation’s biggest scandals. With Violation Tracker, all stakeholders including the public at large will have sight of corporate infringements data going back 10 years.
Violation Tracker will enable us to face up to and assess the wrongdoing, indeed criminality that has taken place in the UK; and thereby help us to drive the positive, progressive and purposeful reforms that are so desperately needed.
Our Violation Tracker initiative chimes perfectly with the famous James Baldwin quotation:
“Not everything that is faced can be changed, but nothing can be changed until it is faced.”
This symposium will showcase Violation Tracker and the powerful data it provides, helping everybody to understand how it can shine a bright light on what’s been in the shadows, hidden from view; until now.
It will also help everybody understand why so many people are highly supportive of this development.
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; Chair of the Violation Tracker UK Advisory Board
Presentation #1, for 10 minutes + 5 minutes discussion/Q&A
Research Director and Director of the Corporate Research Project, Good Jobs First
Presentation #2, for 10 minutes + 5 minutes Q&A/Discussion by
Managing Partner, OMS LLP
Presentation #3, for 10 minutes + 5 minutes Q&A/Discussion by
Chairman, Equity Development
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!
Trustee, Green Purpose Company
General discussion and debate, 25 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.