When Legal Process Becomes a Legal Obstacle Behind the polished veneer of consumer protection in the UK’s financial services sector lies a procedural trapdoor—DISP 3.3.4 of the FCA Handbook. At first glance, this rule appears rational: it allows the Financial Ombudsman Service (FOS) to dismiss complaints without investigating the merits if they fall outside defined … Continue reading DISP 3.3.4: The Rule That Silences Justice?
Month: May 2025
Understanding FOIA: Your Right to Know—Within Limits
In a democratic society, access to information is a cornerstone of transparency and accountability. The Freedom of Information Act 2000 (FOIA) was introduced in the UK to uphold that principle—granting the public the right to access recorded information held by public authorities. But like many well-intended laws, the FOIA has limitations that can create confusion, … Continue reading Understanding FOIA: Your Right to Know—Within Limits
A Culture of Obstruction: How Your Money Is Used to Delay Justice
In the shadows of Britain’s financial system, a troubling pattern has emerged — one that quietly drains public trust and taxpayer funds alike. This isn’t just about failed pensions or inflated card fees. It’s about a conveyor belt of financial abuse that hides behind the appearance of regulation. When wrongdoing surfaces, rather than being met … Continue reading A Culture of Obstruction: How Your Money Is Used to Delay Justice
How Justice Is Bought and Buried: The Scandal Behind Unpaid Compensation and Silent Acquisitions
By Steve Conley, Founder of the Academy of Life Planning & Ambassador of the Transparency Task Force What happens when a financial firm mistreats its clients, loses a complaint at the Financial Ombudsman Service (FOS), and is ordered to pay redress? Simple: they pay up and fix the harm. Right? Wrong. In today’s UK financial … Continue reading How Justice Is Bought and Buried: The Scandal Behind Unpaid Compensation and Silent Acquisitions
Crisis of Confidence at the PFS—and a Clearer Path Ahead
On 19th May 2025, the financial planning profession witnessed a pivotal moment. Two respected leaders, Daniel Williams and Ben Wright, resigned from the board of the Personal Finance Society (PFS). Their departures weren’t driven by policy differences or personal ambitions, but by a deeper disillusionment: a lack of independence, blurred governance, and an increasing disconnect … Continue reading Crisis of Confidence at the PFS—and a Clearer Path Ahead
The Hollowing of Responsibility: What McGilchrist’s Lectures Reveal About Institutional Failure in Financial Redress
By Steve Conley, Academy of Life Planning In recent years, countless victims of financial harm have encountered a devastating pattern: institutions that once promised protection now offer only deflection. When the Financial Conduct Authority (FCA) tells a victim to “contact the Slovakian regulator,” and that regulator says “only in person,” while HMRC claims “we only … Continue reading The Hollowing of Responsibility: What McGilchrist’s Lectures Reveal About Institutional Failure in Financial Redress
The Expanding UK Tax Gap: When Transparency Fails the Public Purse
By Steve ConleyFounder, Academy of Life Planning Introduction: A Hidden Cost to Us All The UK’s tax gap — officially measured at £36 billion by HMRC — is not just a dry economic statistic. It is the mirror to a deeper dysfunction in our regulatory and financial systems. Beneath the numbers lies a worrying reality: … Continue reading The Expanding UK Tax Gap: When Transparency Fails the Public Purse
Consolidation or Concealment? FCA-PSR Merger Raises Serious Questions Amid Mastercard Litigation and Financial Abuse Concerns
By Steve ConleyFounder, Academy of Life Planning | Member, Transparency Task Force The recent appointment of David Geale as Executive Director for Payments and Digital Finance at the FCA — and simultaneously as Managing Director of the Payment Systems Regulator (PSR) — marks a significant shift in the UK’s financial regulatory framework. Geale’s role includes … Continue reading Consolidation or Concealment? FCA-PSR Merger Raises Serious Questions Amid Mastercard Litigation and Financial Abuse Concerns
Why Are Advisers Still Peddling the Secret Sauce in 2025?
In 2025, it is bewildering—if not infuriating—that financial advisers are still selling the myth of superior investment performance as their “value proposition.” Despite decades of academic evidence and a growing body of consumer experience pointing to the contrary, the illusion persists. And more troubling still, it is being tolerated—if not tacitly encouraged—by the very regulator … Continue reading Why Are Advisers Still Peddling the Secret Sauce in 2025?
When Regulators Enable Fraud: The Case of Gary and the QROPS Trap
By Steve Conley, Academy of Life Planning What happens when you follow the rules—and the rules betray you? Gary, a British retiree, entrusted his pension to a government-approved scheme. He acted in good faith. He relied on approvals issued by UK authorities. And yet, he lost everything. His story is not unique. But it is … Continue reading When Regulators Enable Fraud: The Case of Gary and the QROPS Trap
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