ALEX BRUMMER: Andrew Bailey and FCA severely restricted in ability to take regulatory action against wrongdoers because of legal protections and demands of natural justice

But there comes a point where the public interest in full disclosure and seeing justice done overrides all else. Indeed, all that secrecy and delay does is leave the careers of those involved swinging in the wind. It is a disservice to the victims of unacceptable decisions and behaviour and brings disgrace on an already distrusted banking sector.

BIG SHOT OF THE WEEK: Pointy-shoed pioneer Elon Musk is dragging us into a brave new world one company at a time

ALEX BRUMMER: Whitehall must deliver on a Carillion probe and thwart Corbynista plans for re-nationalisation

I stuck all my money in cryptocurrency but still don't understand it, says JOE WHITWELL (...and he had to sell his ethereum to buy...

CITY DIARY: Eurosceptic hedge fund boss Paul Marshall made a cool £20m shorting Carillion

ALEX BRUMMER: GKN must sharpen up and not be blown away if Melrose were to increase the cash in its offer

CITY DIARY: Informa boss gets his mojo back after bruising stint at Downing Street

How safe is your final salary pension? SIMON LAMBERT on why savers should beware getting spooked and jumping ship

ALEX BRUMMER: In the boardrooms of Britain, few chairmen seem to give the job the attention needed for it to be their finest hour

CITY DIARY: Will it be a royal wedding snub for Carillion chairman Philip Green?

ALEX BRUMMER: Carillion bosses can expect an easy ride unlike its suppliers employees and pensioners

DAN HYDE: The banking revolution opens the door for crooks - steer clear and stay safe 

ALEX BRUMMER: KPMG under the cosh yet again after it emerges it did an audit for Carillion

CITY DIARY: HSBC's socially conscious ex-head of investment banking denied a much-coveted berth in the House of Lords

Progress? Whether bank branches or investments - sometimes the tried and trusted are better, says JEFF PRESTRIDGE

Small businesses need a proper tribunal for disputes with their banks, says MP

The City is shamed by its silence over Persimmon payouts, says RUTH SUNDERLAND 

ALEX BRUMMER: House falls in on Persimmon boss Jeff Fairburn - Britain's £131m man

BIG SHOT OF THE WEEK: Superdry founder Julian Dunkerton - outfitter to the midlife crisis since 1985

CITY DIARY: Corbyn and the £110m Persimmon boss in the firing line as Lord Digby Jones takes to Twitter

ALEX BRUMMER: M&S continues to battle with the past despite frequent management changes

HAMISH MCRAE: Investors should take heart that Shell and BP seem confident enough to hold

Phew. Shell and BP have held their dividends, despite the battering from the collapse of the oil price earlier this year and with BP seriously bloodied. Every wise investor in equities knows that the path to prosperity is to reinvest your dividends, for over the very long run, something like two-thirds of the real return on equities comes from dividends rather than capital gains.

Neil Woodford lays out the economics of Brexit

In or out? Barring disaster, at some point soon we will make that decision on Britain's life in the EU. A new report from Neil Woodford's firm examines the economic case. This independent examination says that a referendum's result may not have the financial impact both extremes of the stay or go argument suggest.

DAN HYDE: Osborne's tax grab will inflict pain on hard-working taxpayers

It will leave a stark choice: cut the amount you spend on restaurant meals, trips to the cinema and life's other little pleasures, and shovel the money into your savings pot instead - or keep working into your 70s. If George Osborne's pushes the button on March 16, he will almost certainly trump Gordon Brown as the enemy of the middle classes. Mr Brown infamously cut the tax credit on the dividends paid to company pension schemes in 1997.

ALEX BRUMMER: Brexit doesn't have to be disastrous if we play our cards right and it may

Some business investment decisions may have been postponed in the run up to the referendum but it is worth noting that as the vote approached the economy was gathering momentum. The latest survey of UK manufacturing (the Purchasing Managers Index) rose from 50.4 per cent in May to 52.1 per cent in June, which in normal circumstances would be considered a healthy gain.

ALEX BRUMMER: Danger now is that Mike Ashley is putting Sports Direct in jeopardy

There is a negative feedback loop, which started at working conditions, has reached the performance of the company and the share price and contaminated the boardroom. Profits are dropping sharply. The latest forecast is 20 per cent down at £300m for the current financial year and we cannot be sure that is the whole story. Sweetheart deals for family members and a lack of transparency around some of Ashley's transactions on the company's behalf place Sports Direct out of the boundaries of what is acceptable.

ALEX BRUMMER: There's never been a better moment to lock finance for big projects... It's

Momentum in the UK economy speedily has been restored since the June 23 vote as the latest labour market data shows with employment increasing by 174,000 over the last three months.

Like
MailOnline

Follow
@MailOnline

image002.jpg

I have been trying to get a tax rebate from HMRC for the past year and feel I am being either fobbed off or totally ignored. On August 24, I received a reply with a cheque for £1 - which I have framed!

Tony Hetherington, Financial Mail on Sunday Readers Champion investigates.
byline pic.

In August last year I received a call from claims firm Falcon & Pointer Limited. It assured me it could get me money back from my bank because my bank had missold PPI.

image001.jpg

I'd been charged £632 for the trip I cancelled as well as the £1,363.88 I paid for the second booking. Expedia keeps telling me I need to take up my complaint with a firm called Blue Islands.

My brother has received a letter saying he has won £325k in the People's Postcode Lottery. We are both extremely suspicious, but the letter looks so official.

image002.jpg

In June, my son and I bought a VW Golf for £4,750. I paid £650 of this on my Nationwide credit card after reading in your column that this would give me protection under the Consumer Credit Act.

LONDON, ENGLAND - FEBRUARY 13:  A general view of HM Revenue and Customs offices in Whitehall on February 13, 2015 in London, England. French newspaper Le Monde has uncovered an email from whistleblower Herve Falciani of his offer to UK tax authorities to reveal details of bank account holders in Switzerland.  (Photo by Peter Macdiarmid/Getty Images)

I applied to draw down my annual pension from Scottish Widows. In previous years, this has been taxed at the basic rate. I was surprised when all my income was taxed at 40 per cent.

AD_203520883 (Read-Only).jpg

Some of the calls are timed when we were in the air, flying to Barbados. On another occasion we were at sea. There is another call relating to Norway, but I do not know anybody there.

CARSON, CA - JULY 17: Steven Gerrard #8 of Los Angeles Galaxy celebrates his first goal for the Los Angeles Galaxy during Los Angeles Galaxy's MLS match against San Jose Earthquakes at the StubHub Center on July 17, 2015 in Carson, California.  The LA Galaxy won the match 5-2  (Photo by Shaun Clark/Getty Images)

I was dismayed to see a Herbalife stand inside the Barclays branch at Clapham Junction in London, where two young women were trying to recruit distributors to sell their products.

image001.jpg

After my mother died, I phoned Sainsbury's Bank to request that my father could continue making repayments on a loan via a new direct debit - but they wouldn't deal with me, even with his permission

Customers enter a Tesco Plc store in London...Tesco Plc, the U.K.'s largest retailer, reported the first profit drop in almost two decades after increasing investment to halt declining supermarket sales.....Wednesday, Oct. 3, 2012. .. Photographer: Simon Dawson/Bloomberg

I came home from work at Tesco in December to find a letter from CCMCC saying that Merthyr Tydfil Borough Council had applied to my local county court for an order attached to my earnings.

HM Revenue and Customs Self assessment tax statement letter with brown envelope and cash in notes and coins. 


Image shot 2013. Exact date unknown.
D349DJ.

When I submitted a self-assessment tax return for the first time, I made the genuine mistake of declaring that I had a police pension, but not the amount.

   

DON'T MISS

   

MOST READ MONEY

Demonstrators hold placards as they march to the headquarters of energy company npower during a protest against energy prices, London November 26, 2013. German utility RWE has scrapped plans to build one of the world's largest offshore wind parks in Britain, as soaring gas and electricity prices fuel uncertainty over the UK government's commitment to renewable energy subsidies.  REUTERS/Toby Melville (BRITAIN - Tags: CIVIL UNREST ENERGY SOCIETY POLITICS ENVIRONMENT)

Last week, it emerged that the top executives at these six energy giants - British Gas, EDF, Eon, npower, ScottishPower and SSE - earned between themselves £12 million in 2015.

Britain's Chancellor of the Exchequer, George Osborne, gets out of a car as he arrives in Downing Street, London, Wednesday, January 27, 2016. 

(AP Photo/Alastair Grant)

It will leave a stark choice: cut the amount you spend on restaurant meals and life's other little pleasures, and shovel the money into your savings pot instead - or keep working into your 70s.

Daily Mail City Editor Alex Brummer.
byline

You had to wonder why BT made such a public fuss about maintaining its control of Openreach network. Its defensiveness left the impression the telecoms giant has something to hide.

Despite issuing £53billion of fines - some of the proceeds admittedly going to good causes - regulators have done little to change the hard-sell culture of the banks.

The most disagreeable image of the summer for me (watched from a hotel room in Israel) was the confrontation between Sir Philip Green and Sky journalist David Bowden of the Greek island of Ithaca.