Through the work that has been carried on over the past 18 months the FCA’s failings with respect to Collateral are now very clear. A few examples of the released FOIs are shown HERE.
The small group that have been establishing the position have made many useful contacts in the press and Parliament but now is the time to ask for your help as fellow investors.
As most following this saga will know, the FCA decide whether to make ex gratia payments in situations like this, but are exempt from legal action. In these circumstances it may help investors if MPs are made aware the FCA's failings over Collateral. MPs are able to take up the matter on behalf of constituents.
This is why I am strongly suggesting that you write to your MP. Writing this letter is not an easy task so a template letter containing all the relevant details has been drafted to make it easy.
I am not posting the letter openly for obvious reasons (and request that you do not post it or any part of it either) but if you drop me a PM I will send you a copy.
The group have already contacted some MP’s who have expressed an interest in the issue. However, since MPs can only represent constituents, they have been unable to take up the problem. It is for this reason that I am suggesting you may want to let me know what constituency you live in, but this is obviously not compulsory.
This is an opportunity for all Collateral investors to influence their final outcome from this debacle so I hope as many as possible will find the time to send this letter.
I anticipate that the letter will raise a few questions, do not hesitate to ask by PM and I will answer as quickly as possible.
Last Edit: Jun 13, 2020 8:13:24 GMT by Ton ⓉⓞⓃ: To add "COL" to the title
Would be interested in how many people get real replies. I sent mine to my MP a month ago - only had an automatic reply so far. Will be chasing shortly.
Disappointing to read but not unexpected, I am in the same position but as the FCA have found out I do not give up
That said, firstly many thanks to all of you who have already requested/sent the letter, much appreciated.
Accepting that correspondence between MP's and constituents is private (and I believe it should stay that way) if responses are forthcoming I would be very interested to hear what responses have been given (PM obviously fine). I do not care how much information you feel willing to pass on even if it is limited to 'Positive/Negative reaction' every little bit of information in this quest to hold the FCA to account will be valuable.
The more letters that are sent the greater the chance of securing a positive outcome, who else wants one? PM me or add to this thread and I will get back to you.