I have recently referred the Financial Conduct Authority to the Serious Fraud Office for suspected corruption and have request my MP, Home Secretary Amber Rudd to support my referral. She has responded and I will post all correspondence with her on this blog.
Dear Ms Rudd
Many thanks for your letter of 27 September. You have asked me to send you the documents. I can do no better than to refer you to the relevant sections on my website, which will explain the situation and displays all relevant documents.
First of all, my email to the FCA informing them that I would refer the matter to the SFO and my subsequent report to the SFO – http://nicholaswilson.com/fca-reported-to-serious-fraud-office/
This is a link to the Complaints Commissioners decision on my complaint against FCA failures to take action. You will see that he was extremely critical of the FCA and he has said subsequently in his annual report that my complaint was at the extreme of complaints he has to deal with – http://nicholaswilson.com/good-news/
The first act the FCA took following the CC’s decision, their apology to me and their assurance that they would re-open their investigation, was to appoint staff from HSBC and John Lewis – the two companies that they had agreed to investigate – http://nicholaswilson.com/extraordinary-fca-appointments/
The Treasury Select Committee has dealt with the FCA failings on 3 different occasions, although it has had little effect –
Finally, here is a link to the recording of my meeting with the FCA in April, at their invitation, where I set out all the evidence – http://nicholaswilson.com/recording-of-my-meeting-with-the-fca/
It is my belief that there is a reason the FCA refuse to take action (despite taking action against smaller companies for similar wrongdoing, Wonga and Cash Genie) and this must be either corruption or political interference. You may be aware, because you were his PPS at the time, that George Osborne wrote to Ben Bernanke pleading with him not to prosecute HSBC in the US, and the FSA lobbied heavily on the same issue. It is clear therefore that there must be some interference preventing a finding against HSBC in the UK for illegal practices against customers of John Lewis, Dixons, Currys, PC World, Halfords, B&Q, Courts, HFC Banks, Beneficial Finance, Marbles credit card etc.
I fully expect the SFO to fob me off. I had recently reported HSBC to them because I believe they are creating forged financial statements in evidence to the FCA (of which I had already informed the FCA) but they simply said that I have to leave it to the FCA, as, similarly, has City of London Police. Clearly all is not right at the FCA and this should be investigated.
I hope, therefore, that you will write to David Green, Director of the SFO supporting my referral and request him to ensure that action is taken.
I should inform you that I make my dealings public in the interest of transparency. However, if there is any particular matter you would wish to keep confidential I will respect that, within reason.
I look forward to hearing from you.
Amber Rudd now tells me that she has written to David Green of the SFO. However, it is unclear from her letter whether she appreciates that I have reported the FCA to the SFO, not HSBC. My reply followers her letter.
The response, received 3 October:
I have now received a copy of the letter the SFO has sent to Amber Rudd. The response is exactly as I expected. I just have to carry on:
As usual with MPs the exercise was simply a post-box exercise. My acknowledgement, 8 November.
Dear Ms Rudd
Many thanks for forwarding the letter received from the SFO. The response was pretty much as I expected, but will not deter my campaign to obtain redress for fraud victims.
Thank you also for your prompt attention to this matter.