duck
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Post by duck on Dec 31, 2020 13:55:34 GMT
My concern is that the deferral notice I received today stated that FCA investigations were continuing, where as the deferal notice I received back in July stated that they were continuing and were at an advanced stage, which leads me to think the investigation is going backwards. The complaints commissioner has of course not yet started their investigation which could take some time after the conclusion of the FCA investigation (and possibly prosecution too). Why they can't conduct their own investigation now, but withhold judgement until the conclusion of the FCA investigation is beyond me? Why can't I have an update on the status and timelines of the FCA investigations! This can kicking can't go on for ever. All good questions that need answers. The Complaints Commissioner (don't forget Anthony Townsend has been replaced recently) does of course see what the FCA is up to so the CC's office should know more than we do. I have no inside line on the investigation but researches show that 'stuff' has been happening. This post shows I believe one area that has been ongoing. That said, the main points, the register entry and how it was changed, the 'discussions' etc was known and legally documented back in March 2018. What is more 'problematic' for the FCA is their role in what went on. Whilst the Brothers undoubtedly caused the issue the FCA contributed by failing in their statutory duties. This point cannot be argued, I have it in writing. As I wrote a couple of months ago the Treasury Committee is fully aware of these breaches of statutory duty and it is their job to hold the FCA to account. A new approach is currently being worked on by 'the lings' and myself, I hope to be able to post about it in the very near future.
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star dust
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Post by star dust on Dec 31, 2020 14:22:52 GMT
Just to confirm an new batch of deferrals were sent out this morning, the ones I have seen are identical (as expected), FWIW I have a feeling that things may be happening, watch this space ...... I do hope you are correct duck - we've all been watching this space for nearly three years, I do hope we won't see it disappear in a Troxler's haze. <snip> As I wrote a couple of months ago the Treasury Committee is fully aware of these breaches of statutory duty and it is their job to hold the FCA to account. A new approach is currently being worked on by 'the lings' and myself, I hope to be able to post about it in the very near future. Thanks for keeping them pressurised and focused - I'm sure we all hope the efforts of you and the 'lings lead to something positive soon. Is there any point in any of us complaining about the lack of action on our complaints?
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duck
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Post by duck on Dec 31, 2020 15:02:03 GMT
I see no reason why it will, we are a very small but very determined group, we have no intention to fade away. I would love to say 'Yes' but in reality you will be met by the same brick wall. Any complaint that makes reference to Col is instantly deferred. Well so do we but in all honesty I can make no promises, all we can do is keep plugging on until suitable closure is reached. There is no golden bullet, if there was it would have been used a very long time ago.
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star dust
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Post by star dust on Dec 31, 2020 15:16:42 GMT
I see no reason why it will, we are a very small but very determined group, we have no intention to fade away. To be clear that wasn't aimed at your efforts, more a concern about possible new brooms and carpets being swept by 'officialdom' for want of a better word. I'm sure we all hope your plugging will unblock the swamp Good luck
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duck
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Post by duck on Dec 31, 2020 15:43:15 GMT
I see no reason why it will, we are a very small but very determined group, we have no intention to fade away. To be clear that wasn't aimed at your efforts, more a concern about possible new brooms and carpets being swept by 'officialdom' for want of a better word. I'm sure we all hope your plugging will unblock the swamp Good luck I realised that but I can't imagine there is the appetite in G'ment to disband the FCA especially when they are in a process of reinventing themselves 'putting consumers at the heart of their strategy'. They of course have a chief exec after Mr Bailey went to the BoE, so that might be of advantage.
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Post by bodroll on Dec 31, 2020 16:02:43 GMT
I've received the same email this morning. Kick the can further down the road with no information again.
This issue is going on forever. Thank you Duck and the team for all you are doing for us.
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duck
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Post by duck on Mar 12, 2021 13:25:09 GMT
I recently contacted a fair number of Col investors and promised to get back to you. This message is simply to say 'the lings' and myself have been slightly delayed due to this hearing. Certain things were said that have a bearing on Col indirectly and in some cases directly. The transcript has only been published in the last couple of days and we didn't want to rely on my hastily scribbled notes. This has meant some re-writing/new writing is needed of letters and documents. So please bear with us, we need to get this right.
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hendragon
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Post by hendragon on Mar 12, 2021 16:41:48 GMT
awaiting your quack
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m2btj
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Post by m2btj on Mar 15, 2021 8:39:16 GMT
I've posted a few withering comments on these boards regarding former FCA head & BoE Governor, Andrew Bailey. I find something rather unsavoury about him & he's now been implicated in the RBS debacle. I personally believe he's not fit to manage a financial institution or regulator. www.bbc.co.uk/news/business-56395534
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Post by outapocket on Mar 15, 2021 15:46:38 GMT
I personally believe he's not fit to manage the opening of a door!
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 15, 2021 23:00:25 GMT
So far, Bailey has Failed Upwards.
Gobsmacking, when you look at his track record.
I can think of FAR choicer words than "unsavoury."
I imagine we all feverishly await his comeuppance.
That is all.
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m2btj
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Post by m2btj on Mar 16, 2021 7:20:46 GMT
So far, Bailey has Failed Upwards. Gobsmacking, when you look at his track record. I can think of FAR choicer words than " unsavoury." I imagine we all feverishly await his comeuppance. That is all. I imagine we all feverishly await his comeuppance.
I would like to think we can all be a part of that comeuppance. He represents everything that stinks about the 'establishment'!
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 16, 2021 8:26:34 GMT
So far, Bailey has Failed Upwards. Gobsmacking, when you look at his track record. I can think of FAR choicer words than " unsavoury." I imagine we all feverishly await his comeuppance. That is all. I imagine we all feverishly await his comeuppance.
I would like to think we can all be a part of that comeuppance. He represents everything that stinks about the 'establishment'! I suspect ozboy is going to be self-isolating for a long time.
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keystone
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Post by keystone on Mar 16, 2021 13:16:42 GMT
I do wonder if the never ending delay in any progress and lack of information in the Collateral debacle is due to protecting Bailey whilst he is the Bank of England job. He has a lot to answer for his lack of action whilst at the FCA, The report in to LC&F is damming, The RBS scandal and Bailey's involvement in it appears to have been covered up. But Collateral will be even worse as the FCA allowed an unauthorised firm to ******* ******** and actively tried to cover it up when they became aware.
Maybe he was moved to the BoE to protect him and he will soon "retire" from the BoE, before the true level of his failures become known. Investors are being forced to wait in order to protect Bailey and the establishment.
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Post by p2psws on Mar 16, 2021 18:44:45 GMT
I do wonder if the never ending delay in any progress and lack of information in the Collateral debacle is due to protecting Bailey whilst he is the Bank of England job. He has a lot to answer for his lack of action whilst at the FCA, The report in to LC&F is damming, The RBS scandal and Bailey's involvement in it appears to have been covered up. But Collateral will be even worse as the FCA allowed an unauthorised firm to ******* ******** and actively tried to cover it up when they became aware. Maybe he was moved to the BoE to protect him and he will soon "retire" from the BoE, before the true level of his failures become known. Investors are being forced to wait in order to protect Bailey and the establishment. Other than your spelling of 'damming', I completely agree and couldn't put it better myself!
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