He said the royal commission included no recommendation on barring those with convictions from redress
The penalty for failure by an agent to join a government authorised redress
scheme is PS5,000 and continued operation without becoming a member could mean the agency is ultimately closed down.
Derek said: "I am still being contacted by Bethany survivors looking for redress
for what happened to them in the past.
campaigns such as this to work the victims need to be better informed.
The future of finance hangs, to a great extent, on delivering effective redress
mechanisms for investors.
Ofgem's Senior Partner in charge of enforcement, Sarah Harrison, stated: "Since 2010 Ofgem has imposed nearly [pounds sterling]100m in fines and redress
on energy companies for various rule breaches, including [pounds sterling]39m for mis-selling, and introduced radical new reforms to make the market simpler, clearer and fairer for consumers.
If they refuse or fail to confirm if you were given alternative redress
, or confirm that they did but refuse to compensate you the next step is to make a complaint to the Financial Ombudsman Service (which is free and easy to do).
But Lloyds - whose total PPI compensation bill is nearly PS10bn - disputed the figures, saying they were "incorrect and deeply misleading" and said it used comparative redress
in 5% of all PPI cases since it was introduced last February.
Moreover, the judge in charge of the redress
will be given access to documents from the inquiry, including those from the blacklist - such as acknowledgement of wrongdoing by the company - to verify whether these documents contain evidence of harm inflicted.
Despite the fact that HSBC has now made more redress
offers than any other bank, it confirms that it has yet to settle a single "consequential loss" claim.
The Commission's recommendation, non-binding by definition, encourages member states to set up an "objective, fair and timely" collective redress
mechanism, while taking steps to prevent abusive practices.
It should constitute Grievance Redress
Cells at the national, diocesan and local levels consisting of members from different sectors in the Church who have a high degree of credibility and social standing.