Transparency Task Force

Last updated
Transparency Task Force
AbbreviationTTF
EstablishedJuly 2015
FounderAndy Agathangelou
Type Social Enterprise
FocusTo help consumers of financial services and products to get a fair deal; and in so doing to help rebuild trust and confidence in the financial services sector
Headquarters45 Creech View, Denmead, Waterlooville, Hants, United Kingdom
Staff
12
Volunteers
2,650
Website www.transparencytaskforce.org

The Transparency Task Force or 'TTF' is the collaborative, campaigning community, dedicated to driving up the levels of transparency in the global financial services industry and to rid the financial industry of its short term profit mindset. [1]

Contents

The TTF was founded in 2015 by former financial industry insider turned campaigner Andy Agathangelou who claims to have witnessed numerous things that led him to believe the industry is "pre-disposed to misbehave if it's given the chance". [2]

Mission

The overall mission of the Transparency Task Force is to help consumers of financial services and products to get a fair deal; and in so doing to help rebuild trust and confidence in the financial services sector. [3]

Successes

Following parliamentary hearings and meetings with United Kingdom Prime Minister Boris Johnson, [4] TTF was appointed as the Secretariat of the All Party Parliamentary Group on Pensions Scams. [5]

Publications

Related Research Articles

A nonprofit organization (NPO) or non-profit organization, also known as a non-business entity, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrary with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without securing tax-exempt status.

<span class="mw-page-title-main">Parliamentary Private Secretary</span> UK government office

A Parliamentary Private Secretary (PPS) is a Member of Parliament (MP) in the United Kingdom who acts as an unpaid assistant to a minister or shadow minister. They are selected from backbench MPs as the 'eyes and ears' of the minister in the House of Commons.

<span class="mw-page-title-main">Navdeep Bains</span> Canadian politician

Navdeep Singh Bains is a Canadian politician who served as Minister of Innovation, Science and Industry from 2015 to 2021. A member of the Liberal Party, he represented the riding of Mississauga—Malton in the House of Commons from 2015 to 2021. He previously represented the riding of Mississauga—Brampton South from 2004 to 2011.

<span class="mw-page-title-main">Cabinet of Singapore</span> Executive branch of the Singapore government

The Cabinet of Singapore forms the executive branch of the Government of Singapore together with the President. It is led by the Prime Minister who is the head of government. The prime minister is a Member of Parliament (MP) appointed by the president who in the president's judgment is likely to command the confidence of the majority of the Members of Parliament (MPs). The other Ministers in the Cabinet are Members of Parliament appointed by the president acting in accordance with the advice of the prime minister. Ministers are prohibited from holding any office of profit and from actively engaging in any commercial enterprise.

<span class="mw-page-title-main">David Gauke</span> British politician and solicitor (born 1971)

David Michael Gauke is a British political commentator, solicitor and former politician who was the Member of Parliament (MP) for South West Hertfordshire from 2005 to 2019. He served in the Cabinet under Theresa May, most notably as Secretary of State for Justice and Lord Chancellor from 2018 to 2019. First elected as a Conservative, Gauke had the Conservative whip removed on 3 September 2019 and until the dissolution sat as an independent politician.

In politics, a revolving door is a situation in which personnel move between roles as legislators and regulators, on one hand, and employees or lobbyists of the industries affected by the legislation and regulation, on the other. It is analogous to the movement of people in a physical revolving door. Political analysts claim that an unhealthy relationship can develop between the private sector and government, based on the granting of reciprocated privileges to the detriment of the nation, and can lead to regulatory capture.

<span class="mw-page-title-main">David Frost, Baron Frost</span> British diplomat, politician and life peer

David George Hamilton Frost, Baron Frost is a former British diplomat, civil servant and politician who served as a Minister of State at the Cabinet Office between March and December 2021. Frost was Chief Negotiator of Task Force Europe from January 2020 until his resignation in December 2021.

<span class="mw-page-title-main">Corruption in Canada</span> Institutional corruption in the country of Canada

Corruption is an increasing issue across Canada. On Transparency International's 2022 Corruption Perceptions Index, Canada scored 74 on a scale from 0 to 100. When ranked by score, Canada ranked 14th among the 180 countries in the Index, where the country ranked first is perceived to have the most honest public sector. For comparison with worldwide scores, the best score was 90, the average score was 43, and the worst score was 12. For comparison with regional scores, Canada's and Uruguay's score of 74 was the highest score among the countries of the Americas. Regionally, the average score was 43 and the lowest score was 14.

<span class="mw-page-title-main">Guy Opperman</span> British Conservative politician

Guy Thomas Opperman is a British politician serving as Parliamentary Under-Secretary of State for Roads and Local Transport since November 2023. He previously served as Parliamentary Under-Secretary of State for Pensions and Financial Inclusion at the Department for Work and Pensions between 2017 and 2022 and Minister of State for Employment from 2022 to 2023. A member of the Conservative Party, he was first elected at the 2010 general election as Member of Parliament (MP) for Hexham.

<span class="mw-page-title-main">Fixed-term Parliaments Act 2011</span> United Kingdom legislation

The Fixed-term Parliaments Act 2011 (FTPA) was an Act of the Parliament of the United Kingdom which, for the first time, set in legislation a default fixed election date for general elections in the United Kingdom. It remained in force until 2022, when it was repealed. Since then, as before its passage, elections are required by law to be held at least once every five years, but can be called earlier if the prime minister advises the monarch to exercise the royal prerogative to do so. Prime ministers have often employed this mechanism to call an election before the end of their five-year term, sometimes fairly early in it. Critics have said this gives an unfair advantage to the incumbent prime minister, allowing them to call a general election at a time that suits them electorially. While it was in force, the FTPA removed this longstanding power of the prime minister.

<span class="mw-page-title-main">Financial Services and Markets Authority (Belgium)</span> Regulatory agency

The Financial Services and Markets Authority (FSMA) is the financial regulatory agency in Belgium.

<span class="mw-page-title-main">Corruption in Papua New Guinea</span>

Corruption is rife in Papua New Guinea (PNG). According to The Economist, "PNG's governments are notorious for corruption, and ever run the risk of turning the state into a fully-fledged kleptocracy".

<span class="mw-page-title-main">Mims Davies</span> British Conservative politician

Miriam Jane Alice Davies, known as Mims Davies, is a British Conservative Party politician serving as the Member of Parliament (MP) for Mid Sussex since 2019. She has served as Parliamentary Under-Secretary of State for Disabled People, Health and Work since December 2023. She previously served as Parliamentary Under-Secretary of State for Social Mobility, Youth and Progression from October 2022 to December 2023 and Parliamentary Under-Secretary of State for Safeguarding from September to October 2022.

<span class="mw-page-title-main">Darren Jones (politician)</span> British Labour politician

Darren Paul Jones is a British Labour politician serving as Shadow Chief Secretary to the Treasury since 2023. He previously served as Chair of the House of Commons Business and Trade Select Committee from 2020 to 2023. He has been the Member of Parliament for Bristol North West since 2017.

The One Nation Conservatives is a UK parliamentary caucus of Conservative Party Members of Parliament who identify as one-nation conservatives.

<span class="mw-page-title-main">Andrew Griffith</span> British politician

Andrew John Griffith is a British politician and former senior media executive who, since 2019, has been the Member of Parliament (MP) for Arundel and South Downs.

The Task Force on Climate Related Financial Disclosures (TCFD) provides information to investors about what companies are doing to mitigate the risks of climate change, as well as be transparent about the way in which they are governed. It was established in December 2015 by the Group of 20 (G20) and the Financial Stability Board (FSB), and is chaired by Michael Bloomberg. It consists of governance, strategy, risk management, and metrics and targets. It will become mandatory for companies to report on these disclosures by 2025 in the UK, although some companies will have to report earlier.

<span class="mw-page-title-main">Levelling-up policy of the British government</span> UK government policy under Boris Johnson and Rishi Sunak

"Levelling up" is a political policy first articulated in the 2019 Conservative Party manifesto that aims to reduce the imbalances, primarily economic, between areas and social groups across the United Kingdom. It seeks to do so without acting to the detriment of prosperous areas, such as much of South East England. A white paper for the policy was published by Boris Johnson's government on 2 February 2022, and has been continued by Rishi Sunak's government. The policy is overseen by the Department for Levelling Up, Housing and Communities, and the incumbent Secretary of State is Michael Gove.

<span class="mw-page-title-main">2022 vote of confidence in the Conservative Party leadership of Boris Johnson</span> 2022 vote of confidence in Boris Johnson

On 6 June 2022, a vote of confidence was held amongst Conservative Party MPs on the prime minister, Boris Johnson's, leadership of their party. Johnson won the vote with the support of 211 Conservative members of Parliament, 58.8% of the total. Out of 359 MPs, 148 (41.2%) voted against him.

<span class="mw-page-title-main">July 2022 United Kingdom government crisis</span> Crisis that led to the end of Boris Johnsons premiership

In early July 2022, 62 of the United Kingdom's 179 government ministers, parliamentary private secretaries, trade envoys, and party vice-chairmen resigned from their positions in the second administration formed by Boris Johnson as Prime Minister, culminating in Johnson's resignation on 7 July. Johnson's premiership had been considered in danger for months after several scandals, but it was the Chris Pincher scandal that was identified to have spurred on the resignations. Considered the "last straw" for the Prime Minister, the scandal arose after it was revealed that Johnson had promoted his Deputy Chief Government Whip Chris Pincher, who was publicly facing multiple allegations of sexual assault, to the position despite knowing of the allegations beforehand.

References

  1. "Global financial sector still driven by 'short-term' profit mindset". CNBC SquakBox. 22 June 2020.
  2. Curwen, Lesley. "The battle for investment fund transparency". BBC. Retrieved 25 January 2018.
  3. "Financial Transparency with Andy Agathangelou of The Transparency Task Force". Wicked Problems Podcast. Retrieved 29 July 2020.
  4. "TTF meets with Prime Minister Boris Johnson to discuss the UK's Pension Scams Problem".
  5. "All Party Parliamentary Group on Pensions Scams".
  6. Why We Must Rebuild Trustworthiness and Confidence in Financial Services; and How We Can Do It.