zlb
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Post by zlb on Apr 2, 2019 3:36:55 GMT
Is it that the FCA aren't built for dealing with the wider reach of fintech - that they need to grow in order to deliver what is required?
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jlend
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Post by jlend on Jun 28, 2019 20:25:48 GMT
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Greenwood2
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Post by Greenwood2 on Jun 29, 2019 6:42:16 GMT
"Investors may not get compensation from the FSCS" Did anyone think they would? The screenshot the BBC use in the article even includes the statement that the capital is at risk and returns are not guaranteed. While I don't want any investor to be scammed, as seems to be the case, the FSCS simply isn't applicable here. However, as it seems earlier opportunities for the regulator to step in were missed, I could see how compensation provided through another channel could be an answer. As I understand it a marketing firm (employed by LCF) appear to have been giving financial advice, so there can be a claim (possibly) because the advice given to potential investors was unsuitable for the level of risk the customers wanted.
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p2pfan
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Full-Time Investor
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Post by p2pfan on Jul 1, 2019 22:22:54 GMT
In slight of what happened with London Capital & Finance, a word of cautious to investors on these forums. Please do not be swayed by reviews of any potential investment on just one or two review websites. You will see in the following cached version of London Capital's reviews on Feefo (live version has been deleted), that they were all raving about the company (until the last three from disgruntled investors, after the firm collapsed): webcache.googleusercontent.com/search?q=cache:X2NU3aAnJ7kJ:https://www.feefo.com/en_GB/reviews/london-capital-and-finance-plc+&cd=1&hl=en&ct=clnk&gl=ukIt's very easy for firm to buy premium accounts with the likes of Feefo, which are money making commercial enterprises in their own right. What this enables companies to do is effectively censor negative reviews through a variety of means. For instance, negative reviewers are forced to jump through hoops to provide details of their relationship with the firm within a very short time-frame and, if they don't do so, their reviews are deleted. It's primarily when I saw London Capital constantly referring to their reviews on Feefo, which is a platform heavily open to bias, that I decided not to invest with them. The best way to judge a company on the basis of reviews is to find reviews on multiple different review sites. That's the natural way for a review ecosystem to develop for an established firm. If they're all or mainly on one or two review websites then the company is highly likely to be spending time and money to manipulate the selection of reviews presented there. |
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jlend
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Post by jlend on Sept 5, 2019 13:01:08 GMT
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jlend
Member of DD Central
Posts: 1,840
Likes: 1,465
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Post by jlend on Sept 11, 2019 6:07:05 GMT
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