The article attacks John Griffiths-Jones, the FCA Chairman and the former chairman and senior partner at KPMG, slated for its involvement in the auditing of FIFA, HBOS, Co-operative Bank and Bank of New York Mellon. The author writes:
“…it is unconscionable that KPMG’s former boss should be charged with protecting Britain’s consumers of financial products and keeping markets clean”[KPMG has been criticised for its role in the on-going FCA Interest Rate Hedging Products Review and Redress Scheme (the ‘FCA Scheme‘). The FCA approved the appointment of KPMG to act as ‘Independent Reviewer’ in the majority of cases under the FCA Scheme. Critics argue that KPMG has failed to adhere to the rules and principles of the FCA Scheme such that it has approved a number of redress outcomes deemed to have been neither fair nor reasonable. KPMG is currently the subject of judicial review proceedings expected to be heard later in 2015.]
Mail Online article questions the FCA’s “flawed” leadership.
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