On the afternoon of 2nd November, the APPG on Investment Fraud and Fairer Financial Services will host a timely summit bringing together key stakeholders including parliamentarians, policymakers, consumer advocates, regulators, victims of financial crime, civil society groups and industry leaders to examine the future of financial services and its role in serving society.
In keeping with the APPG’s Purpose Statement, and building on the themes of previous APPG discussions, the summit will explore the continued importance of the financial sector and why its reputational integrity must be safeguarded, particularly in the face of growing pressures to deregulate.
The programme will address the risks that deregulation may pose to public trust, alongside a critical assessment of what more could and should be done to strengthen consumer protections. With fraud, financial crime, and scams continuing to cause significant harm, the summit will highlight why these issues remain such a serious blight on society, drawing on the lived experiences of constituents who feel let down by the system.
Participants will also consider the scope for improving redress mechanisms, ensuring that individuals have access to fair and effective routes to justice. Discussions will explore the case for thoughtful regulatory reform – balancing the needs of both society and the City – and the importance of bringing financial regulators and ombudsmen within the scope of the Hillsborough Law, to enhance accountability and transparency.
Proceedings will be conducted under the Chairmanship of John McDonnell MP, who has led the APPG since he was elected its Chair at the APPG’s Annual General Meeting of 10th December 2025.
The summit will provide a focused forum for constructive dialogue, aiming to identify practical steps to restore confidence, safeguard protections, and ensure the financial system can truly flourish through developing a framework that functions successfully, in the interests of all.
The APPG believes that strong consumer protections are not anti-growth measures, but pro-City, pro-market, and pro-trust initiatives.
Since then the APPG has:
- Held its March 16th 2026 Summit, to launch its groundbreaking report entitled Why our Financial Conduct Regulation Needs Reforming; which gathered widespread media coverage.
- Held an important Westminster Hall debate on the issue of Hidden Credit Liabilities and the Role of the Financial Conduct Authority; the Hansard Report is here, but please also see the media coverage about the debate which includes an important opinion piece by John McDonnell MP that appeared in The Times, entitled A Public Inquiry into the swaps Mis-selling Scandal is Needed Now.
- Had meetings with the leadership teams of the Financial Conduct Authority, the Financial Services Consumer Panel, the Financial Regulators Complaints Commissioner and the Financial Ombudsman Service.
- Launched a new workstream examining the City of London Corporation, including its influence over financial regulation and legislation, the role of the City Remembrancer, and wider questions about transparency, accountability and democratic oversight. The survey has received over 1,500 responses so far.
- Developed important policy positions on topics such as:
- Why the financial regulators, ombudsmen and complaints commissioner must be in scope of the Public Office Accountability Bill/Hillsborough Law’s Duty of Candour.
- The proposed reforms of the Financial Ombudsman Service.
- The ongoing concerns that the regulatory lessons from the Global Financial Crisis are being forgotten and there is risk that the gap between financial sector interests and public needs are becoming insurmountable.
- Why Parliament must re-establish its role in ensuring the financial regulatory framework is fit for purpose.
The meeting proper starts at 2:00PM but the Committee room we will be using will be available for us from 1:00PM so that those who wish to network for up to an hour ahead of the start may do so.
And whilst the formal aspects of the meeting are scheduled to end at 5:00PM, attendees will be welcome to attend a Transparency Task Force ‘drinks and nibbles’ reception at a nearby pub; if past experience is anything to go by that might end quite late.