FSA ask back the Lloyds Bank Whistle Blower -a second time -to tell all .

The Lloyds Bank Whistle Blower

The Financial Services Authority-the FSA-have asked to see the Lloyds Bank Whistle Blower,Ian Taplin,for a second time in 2 months;which is an indication of how seriously the regulators regard the Whistle Blowers allegations of serious misconduct at senior levels-within Lloyds Bank.

Ian Taplin, 54,a Private Banking Adviser was dismissed from LTSB Wealth and Private Bank in 2010 for gross misconduct-for insisting his Complaints of misconduct were taken seriously;and for persisting in his escalation of his complaints to senior levels.

The manner in which I,as a British citizen-an employee and genuine Whistle Blowing -was treated by a British Company -right here in the UK -is alarming.Lloyds Bank acted as if our laws were non-existent.

Ian  Taplin accuses Lloyds Bank of ignoring UK  legislation-which is meant to protect whistle blowers; he explains ;-

“The manner in which Lloyds deal  with an employee whom is Whistle Blowing and supposedly protected by UK Law -is frightening and deeply worrying.

“Senior Executives both male and female-act like corporate thugs.”

Ian Taplin is reporting the conduct of 20 or so senior and mid level bank personnel who involved directly in the handling of his complaint and whistle blowing actions -and his subsequent treatment.There are another 20 or so witnesses-mostly from LTSB.

“The manner in which Lloyds Bank tried to bring in the heavies -looking back to 2007-2010- is now almost comical and most definitely incompetent.

“But also at the time the Senior Directors’ conduct was very intimidating; and their bullying was blatant and this corporate abuse is unacceptable .

“It is very unpleasant and stressful when Managing Directors and Group Directors threaten you -and when properly questioned on their conduct-they also refuse to acknowlegde they are breaking UK  law.

“I have so much evidence of Lloyds Bank Senior directors unlawfully obstructing me and bullying,with acts of intimidation.

“Senior Legal Directors either obstruct you  in your complaint or make misleading statements.Amazingly they do so in the open writing to you by post or to your private e-mail address.

“By “in the open” I mean that I can lawfully reproduce such letters and e-mails in the public domain provided I am mindful of the laws on defamation and libel.

“Such democratic power to lawfully publish such documents,in the public interest should serve as a useful reminder to Lloyds Bank-that the law will win through.Their behaviour can be truthfully and accurately reported in the public domain. Their identities can be revealed  in truthful and lawful public interest  publishing.”

Ian Taplin has alleged that the manner in which Lloyds sold their products to the different clients -was grossly unfair and often fraudulent.Since 2007 he raised concerns as to the  extent of misconduct and dishonesty which pervaded Lloyds Bank ;and he is highly critical of the Lloyds Bank sales system of client segmentation-dividing their retail customers into 3  classifications of mass market ,mass affluent,and wealth.

Mr Taplin explains that poorer clients which are the “mass market” majority and who make up over 80% of all clients-were treated completely differently to wealthy clients.This sales system produced grossly unfair outcomes for the majority of the customers of Lloyds Bank;and such unfair outcomes are unlawful in UK regulatory law.-The FSA Principles.

“As I was recruited into Lloyds from the outside and so was not immersed in the Bank’s culture;and I soon began to have grave concerns at the way Lloyds Bank clients were classified in such a way into 3 categories-according to wealth or lack wealth.

There are huge differences in the way rich clients were treated when compared with the  poorer clients.

The quality of the advice,the qualifications of the sales staff ,the products ,the service and of course the charges-varied enormously;and there is no doubt that the  poorer clients were thus treated in an unfair manner by such discrimination .

The FSA  principles of there  being - due  skill care and diligence- may have been applied to the rich clients -but  not with the poorer clients whom were treated in an unfair and non-transparent manner.”

Mr Taplin believes that this is the reason why the FSA are acting -as they realise the potential for corporate abuse of clients is huge- and those poorer clients are in effect victims of gross discrimination -because of their lack of wealth.

The Whistle Blower explains that this sales system with 3 different classifications of clients-also produced distrust between the different sales forces ;and there were occasions when accusations of fraud or dishonesty were being levelled at other sales teams.

“I was  staggered to experience an atmosphere of mistrust between members of staff.On 4 occasions more senior staff colleagues warned me that certain  staff members active in the Retail Bank of LTSB -were dishonest in their dealings with the public and with their colleagues.

“And I was warned;

To watch my back and catch them out”.

“When I complained at such failings in compliance -I was bullied and intimidated and because I complained as to why such behaviour was tolerated-Lloyds then tried to offer a settlement should I drop my complaints. I refused to drop my complaint-and I still refuse to drop my complaint.

“Senior Directors whom were fully aware of my complaints-then took part in an unlawful bullying and obstructing action- against a geniune Whistle Blower.

“Its no joke when you realise that these same  Directors then go home and pretend to their families they have an  honourable honest job.”

“The FSA must now act to stamp out such behaviour and ensure certain Lloyds Senior Staff and ex Senior Staff are made an example of.

“Let’s see if Martin Wheately the new FSA chief is the real deal and not just another failed regulator.”

Ian Taplin,the Lloyds Bank Whistle Blower says he cannot wait to begin to tell the FSA what really goes on in LLoyds Bank and why the FSA should throughly investigate the named Senior Directors.

He also believes that the FSA will determine that further examples of mass and widespread mis-selling has occured .Similar to the PPI scandal -millions of customers should be compensated on grounds of mis-selling due to unlawful discrimination based on the lack of wealth being a determining factor.Compensation should be paid out -the results of the  Bank  selling products to the mass market or poorer clients in an unfair, unethical, and unlawful manner.

Thames Valley September 7th 2012.

Posted as Comment.

The Lloyds Bank Whistle Blowing Campaign is being closely followed by highly respected writer and broadcaster Ian Fraser whom has posted this blog ;-

http://www.ianfraser.org/martin-wheatley-how-bank-staff-are-encouraged-to-mis-sell/