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Post by Badly Drawn Stickman on Feb 14, 2019 23:13:30 GMT
I've also just submitted a complaint and yes, I was absolutely paranoid about the formal language used in case it somehow weakens my position. Mine was done a long while ago, I just got into 'character' as a wronged investor. Actually kept it very simple sticking to the indisputable points, I think we have all had the same response by email. It really is just a case of getting your name on the list at this point. It would probably be the case that when they accept responsibility all investors would be treated the same, but why take the risk of not sending something to register an interest. If it ends up 'didn't ask didn't get' you would feel very silly.
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michaelc
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Say No To T.D.S.
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Post by michaelc on Feb 14, 2019 23:58:59 GMT
After sending in a complaint and getting an immediate automated response, how long should it be before getting the email to say you've been joined to the existing case ?
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duck
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Post by duck on Feb 15, 2019 5:00:53 GMT
After sending in a complaint and getting an immediate automated response, how long should it be before getting the email to say you've been joined to the existing case ? For the initial complaints it took just over 2 weeks, subsequent responses seem to happen in a couple of days. I don't know if all complaints are being lumped together as an 'existing case' (sensible and probable as it seems) since the initial full responses were signed by different individuals.
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duck
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Post by duck on Feb 15, 2019 5:42:54 GMT
I'm sure that's right - I'm just conscious that we have a lot of retail investors here without legal advice and, depending on where this goes, I'm hoping the FCA isn't going to take advantage of that in any way...Oh I'm sure that attempts will be made. That said as the Adam Williams article states the FCA know the register was not secure allowing 3rd parties to make changes. I can only assume part of the current investigations includes how the Col entries were made. Where the blame will be eventually laid is not of that much interest to me. In my mind that is not the important point, the entries were there and investors were misled.
IF we are to believe any of the posts made by Col Personnel on this forum, meetings/contacts between Col and the FCA took place and it beggars belief that nobody at the FCA bothered to look at the register before they issued their statement " In fact, none of the Collateral Companies held any valid authorisation or permission to carry on regulated activities." I can only assume that some meetings/contacts took place between Col and FCA personnel as they did with all platforms during the period of time where platforms were operating under interim permissions. I know various FOI requests are currently lodged at the FCA trying to extract information on Col/FCA contacts prior to the FCA 'intervention'. One of these 'time expires' today. As for the formal language klopek I can see why that concerned you and my suggestion is to always keep things simple and not open to interpretation (either unintentional or deliberate). That said there is a great principal that is adhered to in the British system, that of 'equality of arms' (and to a lesser extent 'the man on the street') basically 'professionals' cannot use jargon or cunning ploys/words that a lay person cannot be expected to understand.
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amphoria
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Post by amphoria on Feb 15, 2019 19:14:04 GMT
I submitted a complaint on Monday 11th and received the deferment letter (by email) today.
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boundah
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Post by boundah on Feb 16, 2019 16:42:49 GMT
This thread seems to be covering the same ground as this one - Mods, can I suggest a merge? |
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keith
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Post by keith on Feb 17, 2019 6:54:17 GMT
Complaint submitted today
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Post by GSV3MIaC on Feb 17, 2019 12:32:35 GMT
This thread seems to be covering the same ground as this one - Mods, can I suggest a merge?
You can suggest it, but the way posts would be interleaved on posting date means that the result might make little sense and need a lot of sorting out. Probable easier to just lock one or other of them, and keep all postings in one thread going forward. Changing history is a) hard and b) often frowned upon (except in China). 8>.
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Post by slopsjon on Feb 17, 2019 15:14:15 GMT
Filled out a compliant.
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Post by synchrony on Feb 18, 2019 13:01:59 GMT
I've also complained using the online link, following the advice of pp. Thank you for galvanising me into action, at least it feels like one small thing I can do. It was indeed as quick and easy as you said.
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duck
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Post by duck on Feb 18, 2019 17:51:30 GMT
I mentioned a few posts ago that there were some FOI requests lodged at the FCA.
We have another case of a standard letter being returned which state
"Your request is currently being considered and, in doing so, we are of the view that some or all of the information you have requested may be exempt under the following qualified exemptions:
• Section 31 (law enforcement) "
There is a promise/suggestion of a further response in a month's time.
This response comes as no surprise to me however what has been achieved is that several 'difficult' questions are now lodged at the FCA (sorry but I don't think it sensible to post what was requested here).
By asking the questions the FCA now know that the state of the register is not the only matter that investors in Col have picked up on and have concerns about.
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iren
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Post by iren on Feb 19, 2019 18:33:04 GMT
I wrote to my MP, who raised a complaint with the FCA on my behalf. Probably because he is a senior government minister, he received a reply personally signed by FCA Chief Exec Andrew Bailey. The reply includes the admission the FCA “are currently investigating the affairs of Collateral, including the circumstances which led to its details appearing on our register as an authorised firm when it was not duly authorised”.
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greenslime
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Post by greenslime on Feb 20, 2019 18:42:02 GMT
I wrote to my MP, who raised a complaint with the FCA on my behalf. Probably because he is a senior government minister, he received a reply personally signed by FCA Chief Exec Andrew Bailey. The reply includes the admission the FCA “are currently investigating the affairs of Collateral, including the circumstances which led to its details appearing on our register as an authorised firm when it was not duly authorised”. Yes … the circulation of a folder marked 'Ministerial Correspondence' does tend to quicken the step and loosen the bowels of the most intransigent civil servant …
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Post by slopsjon on Feb 22, 2019 16:05:15 GMT
Got a Deferred Complaint response from the FCA like others.
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hendragon
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Post by hendragon on Feb 22, 2019 22:04:56 GMT
I wrote to my MP, who raised a complaint with the FCA on my behalf. Probably because he is a senior government minister, he received a reply personally signed by FCA Chief Exec Andrew Bailey. The reply includes the admission the FCA “are currently investigating the affairs of Collateral, including the circumstances which led to its details appearing on our register as an authorised firm when it was not duly authorised”. I rather think you have fared somewhat better than myself. I had a sympathetic hearing from my MP, however given the fact that he is Chris Davies of Brecon and Radnorshire, his current diffculties might prove a distraction to his constituency business.
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