Mark Hoban MP: Should an investigation be launched immediately?

Mark Hoban MP: Should an investigation be launched immediately?

January 20th, 2011

article from Cherryfind regarding Treasury Minister Mark Hoban: “The expenses scandal sent a warning that members of parliament, especially ministers, need to be whiter than white. It is especially important that ministers should veer away from any behaviour or act that implies they are partisan or biased. Indeed, as the FSA has pointed out, it is important to remove the perception of bias. The Register of Members Interests shows the following… “In my capacity as a Shadow Treasury Minister I received support from Oliver Wyman Limited in the form of services and advice provided in connection with implementation of our reforms on financial regulation. Oliver Wyman’s work has an estimated value of £150,000 for the period November 2009 to March 2010, which will be reported to the Electoral Commission by the Conservative Party.” Oliver Wyman Ltd is a subsidiary of US conglomerate Marsh & McLennan and provides advisory services and consultancy to financial services firms with the banks being among its biggest clients. Mr Hoban has received their valuable assistance and input in connection with the most devastating set of proposals ever to hit financial services. Millions of consumers will be deprived of their advisers and many of these will be hoovered up by the banks with their studied mis-selling and shameful profit-mar gin behaviours. The banks are the prime beneficiary of the Retail Distribution Review. In October 2009 Oliver Wyman partner Davide Taliente was appointed to the committee tasked with implementing future strategy regarding the break up of the FSA. Despite attempts by many MPs to convert Mr Hoban to more realistic views he stands firm and refuses to accept that it is the government’s responsibility or that the Treasury has any influence over the FSA. This being the same FSA whose senior officials are appointed by the Treasury. Hoban’s position is untenable, He should resign immediately.”      

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