"Accepting the role, McDonnell said he was honoured to lead the group at a "critical juncture" for financial oversight in the UK, stressing that victims of investment fraud and regulatory failures "deserve justice, not excuses", adding 'We will not allow a race to the bottom in regulation'. He argued that consumer protection must be viewed not as a brake on growth but as "the foundation of a financial system that works in the public interest"."
"pledging that the APPG would hold regulators and industry to account while working collaboratively with parliamentarians, civil society groups and trade bodies. "We are keen to work with any entity that wants to help the financial sector flourish by serving society as best it can," he said, adding that the APPG was already preparing its policy agenda for 2026."
"Vice Chair Sarah Bool said that while Conservatives believe in free markets, those markets "must also be fair", warning that widespread fraud and regulatory gaps have damaged public trust and undermined the UK's financial reputation. Lord Davies of Brixton highlighted the severe personal consequences of misconduct, saying financial fraud "destroys real lives, pensions stolen, homes lost, futures wiped out"."
Members from both Houses elected a cross-party leadership for the All-Party Parliamentary Group on Investment Fraud and Fairer Financial Services at Portcullis House, Westminster on 10 December. John McDonnell was confirmed as Chair with Vice Chairs Sarah Bool, Lord Davies of Brixton, and Ben Lake forming a politically diverse team focused on rebuilding trust in the UK financial system. The group prioritizes stronger consumer protection, accountability for regulators and industry, and collaborative policy development with parliamentarians, civil society and trade bodies. The APPG plans to prepare its policy agenda for 2026 and to work with entities committed to a financial sector that serves society.
Read at Business Matters
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