Statement of Witness on Issues Faced by Mr. Stamp
Prior to its liquidation, Integrity operated a successful IFA business with a client bank primarily built by referrals from accountants and lawyers. Integrity specialised in holistic financial planning for high net worth individuals and business owners. Mr. Iain Clifford Stamp has been facing business as well as financial setbacks due to matters relating to him, Stargate Capital Management (SCM), UK Innovative TI (UKITI) and Integrity Financial Solutions (Integrity) for almost a decade. According to this statement of witness, Mr. Stamp asserts that the FSA/FCA (Financial Services Authority/Financial Conduct Authority) launched a campaign of persecution against him both before and after creditors' voluntary liquidation of Integrity Financial Solutions in 2009. The FSA/FCA persecution is deliberate and has prevented him from operating as an approved person within the financial services markets since 2009. However, he has never been deemed unfit and he is unaware of any reason why he should not have been granted approved person status in the five separate applications sent to the FSA/FCA since 2009. He also asserts that the FSA/FCA has deliberately constructed a framework that excludes him from working with other regulated firms through FSA/FCA unnecessary investigations and persecution meant to further harm his unregulated businesses and ultimately his own personal resources. Mr. Stamp believes that the FSA/FCA has maintained a complicit relationship with Halifax Bank of Scotland that are central to the cause of the deliberate strategy employed by the FSA to force him into putting Integrity into creditors voluntary liquidation. Another example of FSA persecution against him is evident from FSA's investigation into IPM following a letter from its MP in 2010. According to Mr. Stamp's statement, the FCA has acted in bad faith by publishing speculations in an SCM First Supervisory Notice that names UKITI and its director (which is none other than Mr. Stamp) by stating that UKITI may have breached the General Prohibition. SCM and Mr. Stamp strongly deny this.
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