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MPs to quiz Mark Hoban on diversity

Treasury financial secretary Mark Hoban will be grilled by MPs about the Government’s work on increasing diversity in financial services.

The all-party Parliamentary group on building societies and financial mutuals will question Hoban on May 11 about what has been done to deliver the commitment to bring forward “detailed proposals” to foster diversity.

Mutual sector thinktank Mutuo, which works alongside the group, says the Government should reveal any policy proposals it is considering.

In January, FSA chief executive Hector Sants told the APPG the FSA does not have a mandate to promote building societies or mutuals and so it does not do so.

A Mutuo spokesman says: “Sants essentially said the FSA thinks diversity is a good thing but it is not the regulator’s job to promote it, so the group is also going to put that to Hoban.”


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There are 4 comments at the moment, we would love to hear your opinion too.

  1. poor old Hoban. Bet he’s down at Canary Wharf asking what to say, he certainly doesn’t know himself!
    The FSA will have to give him a script….again!

  2. Personally I think Hoban is a club member, so to the banks. Consider The RDR Implementation Committee, this is packed full of vested banking interests. Indeed one member was Hoban’s former employer and another member (adviser to banks) has supplied Hoban with £150K worth of freebie services – I say no such thing as a free lunch! So perhaps a little more digging on the part of MPs is in order & that way Hoban policies might reflect true Conservative policy rather than ape “Golden” Brown?

    PS: I use a pseudo name because the FSA is without accountability or constraint. It is a fact that they (The FSA) has at their disposal a 10,000 page rule book enabling them to criminalise any and every action they deem appropriate.

  3. Best of luck to them. Hoban is slipperier than the proverbial eel.

    As for the FSA’s “mandate”, most people would consider that to be something the FSA makes up as it goes along, with neither reference or accountability to any other body.

  4. MPs “what about diversity”

    Hoban “ah yes they are a nice bunch of lads who won Britains got talent or was it the x factor”

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