New letter to Treasury Select Committee

The Treasury Select Committee are meeting Andrew Bailey of the FCA next month. I have therefore sent them this email:

Dear Sirs

I understand that you are meeting with Andrew Bailey of the FCA next month. I hope you will take this opportunity to question him about progress in the investigation against HSBC/John Lewis Financial Services.

You will recall that last December the Complaints Commissioner made a very scathing report of the FCA’s dealing with my report as a result of which the FCA agreed to reopen their investigation. The Commissioner said in his annual report that it was the worst complaint he had dealt with –

To date the only action they appear to taken is that the FCA recruited two new NEDs, one from HSBC and one from John Lewis. I also had a meeting at their offices in April when I presented all the relevant evidence. A recording of the meeting is available here

Furthermore, I have recently reported the FCA to the SFO – the FCA simply refuse to mention HSBC in correspondence with me and others and only refer to HFC, a now defunct bank. As I have already pointed out to Mr Bailey, HSBC took over all responsibilities for HFC as evidenced in the letter shown here I believe that Tracey McDermott misled you at the last meeting in reply to Mr Kerevan’s question in implying that the problem was a historical one involving only HFC. This is simply untrue – HSBC/John Lewis Financial Services continue to collect the illegal charges from consumers.

I shall be grateful if you would please confirm that you will continue to pursue this matter on behalf of the many thousands affected consumers and use your best endeavours to bring this longstanding injustice to an end.

Yours faithfully
Nicholas Wilson