POL00218860
POL00218860
From: Paula Vennell
Sent:
To:
Ce: Gavin Lambert’.
Subject: Re: Sparrow - An idea at pace!
Mark, I'm really sorry but my brain isn't working properly
So my powers of analysis are underpowered at present! Could you bounce off Al, Alwen, Gavin - you'll get a better quality input.
Let me know where you get to.
Thanks, Paula
Sent from my iPhone
> On 15 Jan 2015, at 15:19, Mark R Davies
S
> Hi Paula
>
> Al's comments sparked an idea which I think we should get worked up (Patrick had a similar thought and contributes the key
element below).
>
> Essentially we have a position where no-one is happy with the Mediation Scheme. MPs have withdrawn support. The JFSA did
not contribute yday and is meeting on Sunday to consider its position.
>
> Our people is that if we close the scheme down we will be accused of bad faith either way. But what if at the same time we offered
applicants a payment - say £5,000 - only to be used to mount a case in the courts.
>
> The narrative would be a strong one: we have all faith in our system but as a responsible business, having taken a lot of very
reasonable steps which have not satisfied anyone, we are now prepared to offer applicants funding to take legal advice.
>
> We could give them an option if this is not what they want - to continue with the investigation process with mediation if
appropriate.
>
> We could in this scenario remove Second Sight but suggest they are used by applicants to prepare their case.
>
> If 100 applicants opted for this it would cost £0.5m. The scheme as it stands will cost at least a further £3m.
>
> Clearly this needs to be worked up properly - but I do think it is worth considering, including legal risk, quickly.
>
> If you are content I will ask the team to do so.
>
> Mark
>
>
> Mark Davies
> Communicati
Corporate Affairs Director
> Sent from my iPhone