TenKay
Member of DD Central
Posts: 144
Likes: 117
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Post by TenKay on Aug 2, 2019 8:55:01 GMT
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tombraider
Member of DD Central
Posts: 117 
Likes: 103
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Post by tombraider on Aug 2, 2019 16:17:18 GMT
So they authorised to delay the inevitable, thus allowing more people to lose money.
That’s just what you want from someone protecting you. Utter joke of a body... I really hope this lot are disbanded as clearly not fit for purpose. We should be allowed to take legal action against them.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Aug 2, 2019 16:39:44 GMT
So they authorised to delay the inevitable, thus allowing more people to lose money. That’s just what you want from someone protecting you. Utter joke of a body... I really hope this lot are disbanded as clearly not fit for purpose. We should be allowed to take legal action against them. The problem is, The Government don't know what they're doing. Never have, and never will. FCA failed predecessors include SIB, LAUTRO, FIMBRA, PIA and the FSA, so The FCA will only be replaced by yet another Totally Useless and Incompetent Authority, headed up by another Totally Useless and Incompetent Chief Executive & Board. And This New and Improved Wonderful Financial Authority will again also completely & utterly fail to protect Financial Consumers. And so on in perpetuity.
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sydb
Member of DD Central
Posts: 345
Likes: 316
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Post by sydb on Aug 3, 2019 14:32:53 GMT
What should happen is that as soon as the FCA decide that a firm must put into place remediation steps, then the FCA must demand the firm immediately contact all their clients/investors and send them, verbatim, the remediation report (and any other relevant conduct reports) produced by the FCA. Furthermore, the FCA should have the legal authority AND implement this authority to force the firm to post said report on the main page of the firm's website above any other text, formatting or links. Just like it's done when a company goes into administration. To me, this would be actual consumer protection.
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