rogerthat
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Post by rogerthat on Feb 25, 2021 17:18:04 GMT
Surely its based on the size of the claim ? Erm...well I think ive seen a post on FB where the offer exceeded the total capital invested..so..
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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 Feb 25, 2021 17:32:20 GMT
Nope, it has nothing to do with the claim, its to do with the handling of the complaint and the level of compensation is based it appears on the time taken promising to resolve the complaint which now cant happen. The longer you have been strung along with promises of an imminent resolution the more distress you are deemed to have suffered and the more ex gratia payment you will be offered AIUI I don't think anyone knows that do they? If you put in a claim for £100 is the FCA going to compensate you £150 for taking so long over it ? No, but it is possible to extrapolate from the available data and draw conclusions ... after Sep 20 £50, before £75 etc Yes if the compensation is for the delay, the size of the claim is irrelevant particularly as they are unverified. You could have claimed £1m, youve still be inconvenienced by the same amount as the bloke who claimed £100.
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k6
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Post by k6 on Feb 25, 2021 17:49:13 GMT
I reckon it is based on the time one has been waiting for resolution, but if someone was offered more than the capital lost then the capital would need to be peanuts ( lucky one )
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nyneil
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Post by nyneil on Feb 25, 2021 19:11:31 GMT
They offered £175 on 23/02/21, based on a claim for two accounts with FS. Do you recall what date you first lodged your claim / complaint? 14/12/19
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duck
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Post by duck on Feb 26, 2021 5:15:29 GMT
Where the FCA offers ex-gratia payments the most common are for 'distress and or inconvenience'. Having recently back checked offers for the last 5 or 6 years the amounts (99% or the time) vary between £50 and £150. There is no correlation with the amount invested lost. Occasionally the amount will be increased by the Complaints Commissioner by £25-£50.
This is why the FCA in their recent consultation was able to say amounts paid out have been historically low and therefore a cap at these low limits would not damage consumers .... but they would remove the cap in exceptional circumstances. (causation not proved)
What I see as has happened here is that complaints were 'in limbo' for some time but the advent of an official investigation allows the complaints to take the official position of 'deferred'.
As for the chaos inside the FCA over Email addresses, who authorised this? ..... par for the course.
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Post by portlandbill on Feb 26, 2021 8:40:28 GMT
I reckon it is based on the time one has been waiting for resolution, but if someone was offered more than the capital lost then the capital would need to be peanuts ( lucky one ) I managed to get my investment down to about £200 at the time I made my complaint (November '19). I have been offered £175. Due to subsequent repayments my current remaining investment is now down to just over £100 + some accrued interest. I should come out with a small profit overall, but was lucky that I chose to get out as soon as I saw things going bad.
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Post by multiaccountmanager on Feb 26, 2021 15:49:47 GMT
I reckon it is based on the time one has been waiting for resolution, but if someone was offered more than the capital lost then the capital would need to be peanuts ( lucky one ) I managed to get my investment down to about £200 at the time I made my complaint (November '19). I have been offered £175. Due to subsequent repayments my current remaining investment is now down to just over £100 + some accrued interest. I should come out with a small profit overall, but was lucky that I chose to get out as soon as I saw things going bad. Well done indeed.
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rs
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Post by rs on Mar 2, 2021 9:35:11 GMT
I don't think i sent my FS complaint to FCA. Can i still complain to FCA now?
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pfffill
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Post by pfffill on Mar 2, 2021 9:45:01 GMT
I don't think i sent my FS complaint to FCA. Can i still complain to FCA now? Yes, you can complain any time. If you need guidance, poster "pip" on page 1 of this thread, at Nov 14, 2019 at 3:47am, gives a good idea of the way to go. It would be a good idea to modify it to your own words/circumstances as far as possible.
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rs
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Post by rs on Mar 2, 2021 10:53:03 GMT
I don't think i sent my FS complaint to FCA. Can i still complain to FCA now? Yes, you can complain any time. If you need guidance, poster "pip" on page 1 of this thread, at Nov 14, 2019 at 3:47am, gives a good idea of the way to go. It would be a good idea to modify it to your own words/circumstances as far as possible. Thanks. Will do.
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Post by rickyvader666 on Mar 5, 2021 22:48:24 GMT
Hi. Just seen this and don't quite understand. I have several thousand outstanding and is this saying that if I put a claim into FCA I would get £50 ish compensation?
How are people going about this ?
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rogerthat
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Post by rogerthat on Mar 5, 2021 23:16:06 GMT
Hi. Just seen this and don't quite understand. I have several thousand outstanding and is this saying that if I put a claim into FCA I would get £50 ish compensation? How are people going about this ? Judging by recent communiques from the FCA, it suggests that any compensation offered has been based on time ..so you may not be offered anything. However, theres no reason you shouldnt still forward a complaint, in fact the more they get the better. If you look back through the thread you've posted on..you should find enough info to point you in the right direction. And there may be more helpful people than I who will also reply to your post.. p.s. I see you've posted via mobile..if you can lay your hands on a lappy or something you might find it easier to navigate
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rogerthat
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Post by rogerthat on Mar 5, 2021 23:22:20 GMT
Hi. Just seen this and don't quite understand. I have several thousand outstanding and is this saying that if I put a claim into FCA I would get £50 ish compensation? How are people going about this ? www.fca.org.uk/publications/consultation-papers/cp20-11-complaints-against-regulators-fca-pra-boeNote..on opening that link I note the FCA have classed that as closed 12/10/2020...but theres nothing to stop you contacting them..if no one pops up in the next day or two..why dont you call/contact them FCA Head Office 12 Endeavour Square London E20 1JN
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Post by rickyvader666 on Mar 5, 2021 23:45:47 GMT
Thanks for the response and I have contacted them.
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Post by timsykes on Mar 6, 2021 0:17:25 GMT
Hi. Just seen this and don't quite understand. I have several thousand outstanding and is this saying that if I put a claim into FCA I would get £50 ish compensation? How are people going about this ? Not quite correct: the £50 pay-out (range £25 to £175 from what I've heard) is NOT compensation, it's a cash 'gift' to attempt to placate people who've been waiting months for a response, who in addition might have been expecting actual compensation. People who put in a complaint within the last 6 months or so, like myself, got nowt. The issue of whether compensation will or won't be paid is still under review.
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