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FCA Meeting Today

11/3/2015

6 Comments

 
What an interesting few days – and a news letter will be out tomorrow giving more detail. However, I know that many of our members will want to know asap how the meeting at the FCA went today. So here's a brief summary – more soon.

First I would like to announce some important news from SME Alliance and not least because it is relevant to today's meeting. As you all know, the three directors of SME Alliance up until now have been me (Nikki), Nick Gould and Jon Welsby. For no other reason than huge personal commitments, Jon has resigned as a director and much as Nick and I are gutted, we fully appreciate it is a demanding job and one that, for the moment, Jon is struggling to fulfil along with the extraordinary work load he has to deal with. He is of course still a dedicated member of SME Alliance and someone we continue to rely on for help, support and advice.

That's the bad news. The good news is that Andy Keats who we have been working with very closely on a number of serious issues, is now a director of SME Alliance. So the meeting we had today at the FCA, which was initiated by Andy and SBCB but which SME Alliance has been heavily involved in, was a very serious meeting for SME Alliance with Andy and others all representing the bigger picture of the SME Alliance membership as well as the issues SBCB is continuing to move forward for specific clients. I am sure everyone will be as pleased as Nick and I are that Andy is now officially a director of SME Alliance.

So – today's meeting. Those members who attended our last meeting at the Metro Bank will have seen Andy's presentation on what can only be called the manipulation or falsification of information of clients central files by RBS. There is no way to portray this in a more PC manner. The information collected and collated by Andy has now been substantially added to by submissions to James Hurley at the Times (after his article which prompted at least 20 people to contact him) and some extraordinary cases (including SME Alliance members cases). And please note – not all of the evidence uncovered so far has been directly related to RBS (although the majority has to date).

I would just point out that in order to fully identify the falsification or manipulation of documentation in central files has taken hours of work because “everything is in the detail.” Not only that but I can confirm that, as someone who spends hours reading the documents forwarded by members, I, like so many other people who are not experts in the field, very often fail to see the significance of what I am reading. So – many thanks to Andy who has raised these issues and also to the advisers of SME Alliance who have the ability to recognise issues and facts that could have so easily have fallen by the wayside.

The end result is today we have presented a considerable amount of evidence to the FCA which will now have to be very carefully considered and acted on. How they will react? I don't know – and I don't know this in any other sense than the obvious fact that the representatives of the FCA will have to have some time (however short) to consider the barrage of information they have been given. They have seen the presentations from Andy and others – they have got those presentations and it is only reasonable they will need time to conclude how best to deal with the issues we have raised.

We absolutely don't want to influence what the FCA does next. Clearly, we have our own views of how this should progress. But today's meeting was not, in anyway an attack on the FCA it was simply an excellent opportunity to present a series of indisputable facts – which we did.

We were luck to have with us a very good barrister to put his views on the evidence presented and also Gutto Bebb to give his views. Someone asked me at the end of the meeting is I think Gutto Bebb is one of the good guys? Yes I do and I think his presence there today was confirmation of this – he knows SMEs have serious issues with banks and these issues need to be addressed. We thank him very much for his attendance today.

Conclusions – there are none today. If I dropped a ton of bricks on your head today, it's reasonable you'd take a few days to recover and to think how you might come to terms with what has happened and consider what to do about it. I think that's where the FCA are today. They need to consider these presentations in detail (not just a 2 hour introduction) and they need to consider the regulatory implications. Additionally they will be waiting for the submissions from our barrister which will arrive on Tuesday – clearly a barristers opinion will have some influence on conclusions and outcomes.

I can confirm the FCA did ask if Andy and we are happy for the FCA to present the evidence we have to the police – and yes, of course we are because it does appear some of this evidence includes criminal conduct. However, this does not exclude in any way the regulatory breaches identified which the FCA themselves must deal with.

So what I'm saying is – today's meeting was very positive. To the best of my knowledge (and I was there) no one challenged the evidence presented. And as such, something has to happen. What? Well let's give the FCA representatives present time to consider their best course of action. Should that action not comply with anything we or our legal representative feels is reasonable, we will of course react. But we can't react in advance of the FCA receiving our final submissions or their replies.

The really important things about this is – a year ago we would neither have collated such compelling evidence of bank misconduct, nor would the FCA been willing to listen to us. There was nothing about today's meeting I found antagonistic. We took the evidence – the FCA listened and, I would say, were quite shocked. Let's not precipitate what happens next. If it's good or even reasonable (which I think it will be) then we have a good case to go forward and protect our members. If it's not (and I have no reason to think the FCA will ignore our submissions) we obviously have plans going forward.

Most of us have waited years for any kind of progress. I think we made some progress today but we have to give the FCA a small window of time to consider everything we have said. That's only reasonable. As Nick Gould continually says – we are here to break down solo's. We would be happy to consider the FCA wants to seriously consider our submissions and evidence about misconduct. Hopefully they did today because. We will keep members updated as soon as we have any news.  It would be wrong to jump to any conclusions in the meantime. We are no longer presenting information, evidence or data as “individual cases” and we are a united front so the FCA will hopefully take this on board. I believe they will. Interesting times.
6 Comments
graham stewart
11/3/2015 09:22:06 pm

Great news .well done all .there is no hidding place for what has past

Reply
David Griffiths
11/3/2015 09:27:30 pm

Nikki

An excellent report.
And, I am so pleased my MP, Guto Bebb was there to witness it all. I've had several meetings with him and he has helped me with my (now settled) case against Yorkshire Bank and the TBL. Well done. If you've time to spare and, I know how busy you are, I'd lie a hat with you about a matter concerning Lloyds Bank plus other matters such as NCSG group etc.
Kind regards
David

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nick gould
11/3/2015 09:41:11 pm

Sounds as if it was an " interesting "meeting. Fantastic piece of work by all concerned. What is particularly disgusting to me is that this bank (RBS) is a bank "owned " by the government.
I wonder how people would feel if they knew that RBS had apparently been falsifying documents...Interesting question is who was ( wasn't) advising people at the bank to do so. I wonder also what its new chairman thinks about this. Does he even know? So many questions and so few answers---yet.

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Mira Makar link
11/3/2015 10:12:22 pm

The most important statement in your report is at the end:"We are no longer presenting information, evidence or data as “individual cases” and we are a united front". It is wonderful having you at the front of the ship and feeling that all are moving in one direction. You have created the most extraordinary network of cherished relationships, mutual respect and focus for hope.

The ship is about to turn and the distinction between "this is mine" "this is yours" enforced. It took 50 years for the UN Universal Declaration on Human Rights (1948) to turn into the Human Rights Act 1998: wrongdoers have enjoyed 17 years of the fact no-one is doing anything about it. Their days are numbered.

Those who break and enter homes and service addresses, change locks, "trade" properties they do not own, laundering through disreputable estate agents, using forged documents throughout know that such antics by RBS, Barclays, others and their down-market accolytes have been rumbled.

Refusing to "back-off" can only make things worse for all and, importantly, never better for them.

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Stephen G. Lilley link
11/4/2015 08:58:09 am

Well done Nikki with the rest of the team. I have always said as an ex-PC that the more dialogue you engage in the deeper the hole your opponent digs a hole for their impossible position, more lies have to been told to cover the first lies. As a new member I am glad to be part of your group, as a trade union member I learned a long time ago that unity was strength. Thank you.

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Mira Makar
11/4/2015 11:43:48 am



Welcome on board Mr Lilley. Ex police are the ones who most readily understand what SMEs have to face, with theft forgery, fraudulent misrepresentation, cross border tax evading gangs prevalent operating on an anonymised and indemnified basis and accountable to no one but themselves. They succeed because they "establish facts on the ground" by siezing your identity, standing ownership "as though" they are you, and leaving you on the outside without standing i.e. using what is yours against you, until you abandon and give up.

The Human Rights Act 1998 (delayed half a century from the UN Declaration in 1948) was a nuisance for them, so they ignored it, and proceeded with arrangements they had in place from at least 1995, for exclusion and eliminating the risks of resistance or come-back.

Although the Parliamentary Commission on Banking Standards found that the extent of corruption and collusion beggars belief, they did not get as far as the mechanics of understanding the extent to which the organs of state have been infiltrated by the vested interests and those they have brought in, allowing them to be so readily used for laundering and layering.

Your point about what happens when someone is in a hole of their own making is well made: it takes an experienced policeman to know how people behave when in a hole. Thirty or more years ago it was the perceived wisdom that the sooner you owned up the sooner the problem was sorted and less damage and in court it is contempt not to deal with DAMAGE MITIGATION before filing a defence (i.e. you must file an admission if the claim form is true or the court may make a finding of contempt i.e. shall hear the matter.

The foray of lies, deceit, forgery which we have all seen has come AFTER the wrongdoers were in a hole. In many cases they were in a hole BEFORE the relationship started and entered the relationship with the express purpose of making good the past, the profit on which they had already taken out.

Accordingly access to fresh confidential info; control of cash; estates was with a view solely of cannibalizing and blocking comeback, curtailment, disgorgement of illicit gains on what was already taken out and they did not want to give up.

It has torn the nation apart and destroyed the very SMEs and others that provide mass gainful employment in productive enterprise (not outcome based skimming, blocking come back).

Below my contribution to your what happens when you are in a hole entry. Thank you for high lighting this key aspect of human behaviour.





From: Mira Makar
Date: Thursday, 18 May 2006 06:43
To: XXXXX@btinternet.com>, XXXXXX@withersworldwide.com>
Subject: XXXXXXXXXX?

Reminder: for sale: desirable pension fund investment: 30% strategic stake in UK Plc available, no longer a strategic fit with current owner’s strategic portfolio, auditors confirm functioning and can be traded lawfully, may be available in smaller lots, contents exclusive viewing only (after purchase), outstanding potential. Would suit up and coming professional. POA (non negotiable).

Offer closes end June 2006 after which remaining holding will be securitized and launched on NASDAQ; 400% premium expected on current price.

This is not a forward looking statement or profit forecast and no one is responsible for it. The NASDAQ offering will be stated to be Sarbanes Oxley compliant by the current directors but not their advisers, apart from one.

Offeror: party regulated in Afghanistan

ITEM 2: for sale by auction; £1m debt owed by UK fully listed company, negotiable by deed, interest bearing at commercial rates. Company solvency and debt guarantee underwritten by auditors within the last 2 months.

Auction to be held at Embankment Place on Saturday 20 May 2006 at 6 pm. Proceeds to be donated to the fund for ex auditors, WIAHSD *

WIAHSD is the registered trading name of the registered charity When In A Hole Stop Digging, reg nr 345678, a company limited by guarantee from Guess Who, a leading global firm of auditors


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