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Post by ndblog on Apr 7, 2024 18:52:36 GMT
Will we need to wait for the 2024 report to see how much we lost on the Bolton sale (public information see lancashiretelegraph article) also, when will we be paid?
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duck
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Post by duck on Apr 8, 2024 6:02:19 GMT
Will we need to wait for the 2024 report to see how much we lost on the Bolton sale (public information see lancashiretelegraph article) also, when will we be paid? Indeed. As for payment I am not expecting that until BDO finally wrap things up. Bolton was their biggest problem and now that has gone there is not much of the carcas left to pick over. I'm expecting a small payout (if any) for the top level loan with the rest being a total wipe out. (could of course be wrong but everything points this way)
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duck
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Post by duck on Apr 8, 2024 6:07:44 GMT
I have noted for some time now of the take over of the FCAs FOI team by the Comms unit. This is of course linked to the problems I have been experiencing for some time now. The Times have run an article on this today. FCA transparency unit overhaul ‘pushed by ex-Cameron spokeswoman’This is of course the Paul Carlier ruling that I highlighted some posts ago. Full article available here
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duck
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Post by duck on Apr 16, 2024 16:20:26 GMT
Well the FCA have 'answered' the 3 FOI's on WhatDoTheyKnow.Actually they haven't answered they have asked for 'clarification'. Umm I asked for 2016-17 (the Nat West Account) and the FCA want to know if I meant 2018 onwards, the Santander account! So the 20 working days for the FCA to respond starts again.
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duck
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Post by duck on Apr 20, 2024 16:29:52 GMT
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duck
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Post by duck on Apr 24, 2024 9:56:48 GMT
I have just posted some new information on the DD board.
Whilst it might appear that not a lot is currently going on, it is, but through necessity I can't post openly about it at present.
I hate being in this position, it reminds me of when 'the investigation' was going on. Hopefully I will be getting some responses soon .......
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k6
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Post by k6 on Apr 24, 2024 13:51:58 GMT
I have just posted some new information on the DD board. Whilst it might appear that not a lot is currently going on, it is, but through necessity I can't post openly about it at present. I hate being in this position, it reminds me of when 'the investigation' was going on. Hopefully I will be getting some responses soon ....... Thank you very much Sir for everything you doing with those cases . It is much appreciated 24h, even though not always mentioned here.
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duck
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Post by duck on Apr 24, 2024 15:13:26 GMT
Thanks for your thanks k6A new FOI on WhatDoTheyKnow. In light of the FS investigation I think we all know what the answer will be to this FOI.
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duck
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Post by duck on Apr 24, 2024 17:05:19 GMT
I have long stated that the charges raised by the FCA were very carefully chosen. If you look at this FCA News story from today you will see with the note The FCA knew that the Curries were carrying out regulated activities (even if the Curries tried to maintain that they were not) but no charge. So why were the Curries not charged with this offence?
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duck
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Post by duck on Apr 25, 2024 10:59:30 GMT
Just a reminder that an update on complaints is due next Tuesday. The FCA now have one more to deal with. (sorry the formatting disappears when I post here) Official Complaint
Please add this complaint to my existing complaints (deferred) Ref. XXXX. As per my previous complaints this one is written on behalf of myself Peter Cornell, my wife XXXX and my Limited Company XXXXX. Please note that this complaint concerns the specific way the complaints procedures has been applied to all complaints that have been lodged regarding the FCA’s handling of Collateral (UK) Ltd and is not specific to myself, my wife and my Ltd Co. Complaints started to be lodged soon after the Collateral website went dark on 26/02/2018. To date not a single complaint has been answered even though answering some of the complaints would have had no effect on ‘the investigation’ prior to the trial, the trial or ‘the investigation’ into the complaints that was started on 31/07/2023. The unacceptability of this position was also outlined by Anthony Townsend in FRCC ruling FCA00527 (08-04-2019) frccommissioner.org.uk/wp-content/uploads/FCA00527-FR-080419-for-publication.pdf“ However, I do not think that the complaint investigation should be deferred until ‘any ongoing action is finished’. If the FCA’s Enforcement investigation leads to a decision to take action against individuals or firms, there is a significant risk that proceedings will take many months or years before they are concluded. I do not consider that it would be reasonable for you (and others) to have to wait for that long, unless there was a serious risk that completing the complaint would seriously jeopardise the enforcement action.” It appears that the FCA have decided to ignore this ruling. The enforcement activity was of course completed on 22/05/2023 with the conviction of the Currie brothers. It took the FCA a further two months following the convictions to state on 31/07/2023 “ ..... we are able to progress our investigation into your complaint about the FCA.” Nearly a year after the convictions investors have seen no tangible progress in the processing of their complaints. In fact the latest update states “ We aim to be in a position to provide our decision by the end of the summer but will continue to update you every four weeks until the decision is communicated.”
Even with an optimistic date of September being taken this will mean the FCA will have taken 16 months after the end of the enforcement activity to answer complaints. This will mean that many complaints will have been unanswered for over six years, this is clearly unacceptable. In the meantime the FCA stated on 20/09/2023 “ We are currently investigating your complaint and hope to be in a position to write to you with our findings in the next 3 - 4 months.” On 20/10/2023 the FCA stated “ We are currently investigating your complaint and hope to be in a position to write to you with our findings in the next 3 - 4 months.” On 13/11/2023 the FCA stated “ We are currently investigating your complaint and hope to be in a position to write to you with our findings in the next 2 - 3 months." On 06/02/2024 the FCA stated “ We are currently investigating your complaint and hope to be in a position to write to you with our findings in the next 2 - 3 months."Clearly the FCA is an organisation that does not care about providing accurate information to the very consumers whose losses have been directly caused by FCA failures. This observation is further enhanced by the FCA having to apologise to Collateral investors in February 2024 for missing numerous promised four weekly updates, a subject that I have previously had to raise in several official complaints. It should also be noted that the FCA have refused FOIA requests to state how many complaints regarding the FCA’s handling of Collateral with “We hold the information you have asked for, but we are unable to disclose it to you, as it constitutes ‘confidential information’ for the purposes of section 348 of the Financial Services and Markets Act 2000 (FSMA).” However I believe the number to be in excess of 350. The FCA have continually pushed the answering of the Collateral complaints into the distant future, the latest addition being “ internal governance procedures” which have been added after the ‘investigation’ in the April update. The FCA’s position is clearly untenable, the complaints will have to be answered, consumers are entitled to know how the FCA’s failures cost them so dearly. Peter Cornell
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duck
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Post by duck on Apr 30, 2024 14:50:49 GMT
Surprise, surprise
Well at least the 'update' was early this month!
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ptr120
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Post by ptr120 on Apr 30, 2024 16:24:46 GMT
Surprise, surprise Well at least the 'update' was early this month! Don't forget to reset your 4 weekly reminder!
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duck
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Post by duck on Apr 30, 2024 16:31:58 GMT
Surprise, surprise Well at least the 'update' was early this month! Don't forget to reset your 4 weekly reminder! Already done! That said I should be on a motorcycle in the middle of France when it arrives .....
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duck
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Post by duck on May 1, 2024 16:16:36 GMT
Interesting case at the FRCC (Complaints Commissioner) This might have some relevance when the FCA finally answer Col complaints This is a positive start for the new FRCC, the previous one always backed the FCA when they had applied the 12 month rule.
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