Pinned Tweet
It is not only consumers who are confused about @thefca role, it is all the MPs and government officials who expect consumer protection by @thefca! One billion loss of public money to scams, fraud, dodgy financial businesses show @thefca is doing nothing!
ft.com/content/6c51c3b7-2738…
Three years on, the truth is out! Complaint commissioner concludes that Fca has misled the LC&F investors, justifying more compensation for the victims! Pages & pages of evidence on 440 complaints!
moneysavingexpert.com/news/2…
After two years submission of my comprehensive complaint to fca & another follow up with commissionaire , finally they see the truth! Fca register for LC&F had clearly said investors may be entitled to fscs cover! Too late but better than never!
The Complaints Commissioner 'struggled to see how the FCA Register could not appear to be misleading' for investors in collapsed mini-bond firm LCF.
citywire.com/new-model-advis…
✒️ @JamesFitzJourno
Action Fraud, a black hole with no record, memory or registration of any complaint directed to them! Can anyone clarify to me why they exist..... Is the name a "placebo " to the fraud victims..... Believe me, the make your blood boil even more by wasting time writing to them! 😫
‘Victims of fraud are often diverted to Action Fraud, basically a black hole — a misnomer and meaningless gimmick by which the police can divest themselves of the duty to deal with certain serious crimes.’ apple.news/AnrVIyBLKQreegcIa…
Getting justice has become a bonus in UK instead of a right for victims of fraud! White collar financial crime should be stopped & the institution who support it should be overhauled! Justice is a right for victims....
Truly abysmal abuse of victims & @financialombuds by banks>
"Three-quarters of customers who were turned down by banks & took cases to @financialombuds have been told they should have received a payout, @WhichUK said with some banks this rose to 8 in 10." theguardian.com/money/2021/n…
Insolvency business robbing victims of LCF for second time by S&W! Report is out. So far only 2.5% paid to bondholders! 12 million in fees to S&W and their lawyers in total potential recovery of 25% clear from week one! Scandalous insolvency practices should be EXPOSED! Help!
Provide evidence about fca where you believe it has not delivered consumer protection. Send your evidence to APPG by 6th of September! Please Share!
@premnsikka @nw_nicholas @JoanneRossouw @Julia04352962 @Carlier_J87 @janea216 @CarshaltonArt @EthicalDavid
appgonpersonalbankingandfair…
All who have suffered from the incompetency & misconduct & complacency of @theFca , raise your experience & voice! Act on this invitation now.
@nw_nicholas @thatginamiller @Carlier_J87 @CarshaltonArt @Julia04352962 @janea216 @JoanneRossouw @EthicalDavid
ftadviser.com/regulation/202…
Great input from @markbishopuk & @transparencyuk in debate on compensation bill of LCF, "unacceptable exemption of civil liability granted to @thefca (exempt from being sued) which could be main cause of complacency in consumer protection & statutory duty parliamentlive.tv/event/inde…
#LCF bondholders act on your last chance to indicate how @TheFCA & @HMRCgovuk had active contribution to your loss of saving approving an ISA manager without monitoring the compliance with ISA rule! Civil liability & entitlement to full compensation!
parliament.uk/business/news/…
@johnmcdonnellMP on compensation for lcf debate in house of commons. t he Bill will bring relief to thousands of investors who were let down not just by a failed company but by a failed system. hansard.parliament.uk/Common…
Live coverage of proceedings in the House of Commons on Tuesday 8 June, including a debate on the general principles of the Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill,
bbc.co.uk/iplayer/episode/m0…
2
Legislation: Compensation (London Capital & Finance PLC and Fraud Compensation Fund) Bill: Second Reading
Today in house of commons
parliamentlive.tv/Event/Inde…
The utter failure of @HMRCgovuk & @TheFCA in monitoring #lcf ISA manager & product justifies special consideration for compensation of ISA bondholders of #LCF! @ftadvisor @JohnGlenUK
HMRC has established an Isa-focused working group with the Financial Conduct Authority and Treasury in response to the mini-bond scandal
on.ft.com/3fbqXgK
@thefca approach to all failed investment companies has been the same! they sit and watch till these companies have taken massive investments from the public, then they decide to stop them, causing massive loss of public money! Is @thefca in cahoots with S&W insolvency business!
Elephant in the room is how did @theFCA allow Park First to take £230M from investors before deciding it was operating a UCIS? Demonstrates need for requirement ALL investments must be registered before they can be sold. Then checks can be done up front. citywire.co.uk/new-model-adv…
LCF investors, this is the most important moment to ask for the increase of the limit and percentage.... Get writing to your MP, you won't lose and you could gain!
All LCF investors need to contact their MPs & ask for increase of the compensation at least to fscs limit of the 85K. Considering the local election in view, it is more likely your MPs oblige by responding!
First week into fall of LCF, S&W clarified only possibility of 40m recovery 25% for investors! Two years on fee of S&W is taking all that away 25m whilst investors have seen only 2% of their money! Insolvency made to rob the victims all over! Scandalous!
thetimes.co.uk/article/londo…
There are ISA rules when non adherence makes it ineligible, meaning ISA is regulated product &monitoring compliance is part of @HMRCgovuk& @thefca duty, both failed to do in LCF causing harm! Problem is not imagination of public as Mr Glen depicted, But failure of regulators!