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Post by brightspark on Jan 30, 2021 14:36:05 GMT
14 months on from when this particular thread started. Head and brick wall spring to mind. No one cares a toss. Not the police - overwhelmed with fraud cases, not parliament - Brexit and Covid to the exclusion of anything else, not the Regulators - only Regulate rather than enforce - gasp. Not the professional governing bodies - keep an eye on things but can't possibly dot every i and cross every t. Not the law - courts are chocker with delayed cases. In fact no one. Seen it all before. Next (series of) disaster(s) probably just over the horizon. Sigh.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 30, 2021 21:49:55 GMT
I think that, for many years to come, the P2P Bad Players will be regularly moving house, avoiding dark streets at night, ensuring that a "friend" is accompanying them everywhere most of the time, etc, etc.
SO many want to have a cup of tea and a friendly chat with them.
Even supply a biscuit or two.
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rogerthat
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Post by rogerthat on Jan 30, 2021 23:13:14 GMT
these loans were presented in a deceitful blatant way,negligent misrepresentation,fraudulent misrepresentation,to fleece lenders for their own financial gain.the directors past and present are responsible for all of this and now hiding behind administration and litigation where no action can be taken against them or their company.a few loans have been SOLD to litigation firms with complete indemnity for FS and a 70/30 split of any recoveries.how much were these loans SOLD for and where are the funds?will admininistrators,FS,be taking further fees from any of the 70% recoveries?Erm...havent you got the split the wrong way round... or maybe I have ?..my understanding is that 70% of any recoveries goes to the litigators and 30% to investors but Id sleep better if ive got it ar*e about face. However, if I am correct and investors potentially get 30% an even bigger worry is as you say, do CG & FS cream off further expenses from that ? Think I posted the 2nd point on FB yesterday
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rogerthat
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Post by rogerthat on Jan 30, 2021 23:14:43 GMT
I think that, for many years to come, the P2P Bad Players will be regularly moving house, avoiding dark streets at night, ensuring that a "friend" is accompanying them everywhere most of the time, etc, etc. SO many want to have a cup of tea and a friendly chat with them. Even supply a biscuit or two. Put my name down...twice if you like
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ilmoro
Member of DD Central
'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 Jan 31, 2021 1:08:35 GMT
these loans were presented in a deceitful blatant way,negligent misrepresentation,fraudulent misrepresentation,to fleece lenders for their own financial gain.the directors past and present are responsible for all of this and now hiding behind administration and litigation where no action can be taken against them or their company.a few loans have been SOLD to litigation firms with complete indemnity for FS and a 70/30 split of any recoveries.how much were these loans SOLD for and where are the funds?will admininistrators,FS,be taking further fees from any of the 70% recoveries?Erm...havent you got the split the wrong way round... or maybe I have ?..my understanding is that 70% of any recoveries goes to the litigators and 30% to investors but Id sleep better if ive got it ar*e about face. However, if I am correct and investors potentially get 30% an even bigger worry is as you say, do CG & FS cream off further expenses from that ? Think I posted the 2nd point on FB yesterday Im pretty sure you should be able to get a good nights sleep as Im fairly certain the OPs recollection is correct with a positive split for lenders
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rogerthat
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Post by rogerthat on Jan 31, 2021 17:41:55 GMT
Erm...havent you got the split the wrong way round... or maybe I have ?..my understanding is that 70% of any recoveries goes to the litigators and 30% to investors but Id sleep better if ive got it ar*e about face. However, if I am correct and investors potentially get 30% an even bigger worry is as you say, do CG & FS cream off further expenses from that ?Think I posted the 2nd point on FB yesterday Im pretty sure you should be able to get a good nights sleep as Im fairly certain the OPs recollection is correct with a positive split for lenders Well blow me..chickens and eggs and all that but ive just read your post teatime on Sunday..in an ideal world that would make my day..thanks Care to address my 2nd point ?..also at the risk of appearing greedy, I have another question regarding Beresford Road but im short for time atm so when I get the chance I will post it on the relevant DD thread.
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rogerthat
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Post by rogerthat on Feb 23, 2021 17:25:27 GMT
Mods..if this shouldnt be here, move it please received 16.25 23/02/21 I write further to our most recent update regarding the complaint that you made about the FCA’s authorisation and supervision of FundingSecure Ltd (the firm). Complaint update As you will have noted from our regular updates, we have been investigating your complaint and have been making progress towards being able to issue a decision letter. However, I now regret to inform you that we need to defer our investigation into your concerns for a period of time. Your complaint is being deferred now due to the commencement of an Enforcement investigation into the firm. Unfortunately, we are unable to share any further details about the Enforcement investigation due to confidentiality restrictions, which are explained further here: www.fca.org.uk/freedom-information/information-we-can-shareI am very sorry for the need to defer your complaint, and acknowledge that this occurring at this late stage is far from ideal. I understand that this will be very disappointing for you. To help explain the reason for our decision, I have detailed below the relevant extract from the Complaints Scheme (the Scheme), which explains the circumstances in which complaints investigations can be deferred, and the underlying reasons for this. Paragraph 3.7 of the Scheme states: ‘A complaint which is connected with, or which arises from, any form of continuing action by the regulators will not normally be investigated by either the regulators or the Complaints Commissioner until the complainant has exhausted the procedures and remedies under FSMA (or under other legislation which provides for access to the Scheme) which are relevant to that action. The complainant does not have to be the subject of continuing action by the regulators for this provision to be engaged. An investigation may start before those procedures are completed if, in the exceptional circumstances of the case, it would not be reasonable to expect the complainant to await the conclusion of the regulators’ action and that action would not be significantly harmed.’ The reasoning behind paragraph 3.7 is to ensure that a complaints investigation does not have an adverse impact on any ongoing regulatory work by the FCA, which means there is a risk the complaints investigation may prejudice the regulatory action. This might happen if, for example, the complaints investigation findings cut across the likely findings of the regulatory action. In some cases, where there are ‘exceptional circumstances’, the FCA will proceed with a complaints investigation notwithstanding ongoing action. I have carefully considered, in line with paragraph 3.7 of the Scheme, whether there are 'exceptional circumstances' relating to your case. Unfortunately, I have concluded that your case does not fall into this category, which means that the investigation of your complaint will need to be deferred.What happens next? In six months’ time, starting from the date of this letter, we will reconsider your complaint to assess whether the deferral remains appropriate and contact you with an update. We will also contact you if the Enforcement investigation concludes before this time. We will continue to update you at least every six months as necessary, or earlier if we are in a position to progress your complaint. As soon as we are in a position to take forward the investigation of your complaint, we will get in touch to let you know and to provide you with a timeframe for when you can expect a response to your complaint. The delay in considering your complaint Please accept my sincere apologies for the delay in deferring your complaint and for any distress or inconvenience this may have caused. In view of the late deferral of your complaint and the amount of time you have had to wait so far, I would like to offer you an ex-gratia payment of £50. I would be grateful if you could let me know by 12 March 2021 if you would like to accept this payment. If you require further time to consider this please let me know. If you would like to accept my offer of £50 due to the late deferral of your complaint, please send your full bank details (name on the account, sort code, account number and the bank the account is held with) so I can arrange an electronic transfer for you. I would like to assure you that accepting this payment will not impact the outcome of your complaint following the conclusion of the Enforcement investigation. The role of the Complaints Commissioner If you are unhappy with my decision to defer the investigation of your complaint, you can contact the Complaints Commissioner for a review of the decision. The Complaints Commissioner is the independent person appointed by the Regulators to be responsible for the conduct of investigations in accordance with the Scheme. A referral to the Complaints Commissioner should usually be made within three months of the date of this letter. However, the Complaints Commissioner may still decide to review your complaint outside of this time. The contact details for the Complaints Commissioner are: Im presuming many others have received this..any thoughts or comments please ?
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iRobot
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Post by iRobot on Feb 23, 2021 17:37:14 GMT
<snip> Your complaint is being deferred now due to the commencement of an Enforcement investigation into the firm. Unfortunately, we are unable to share any further details about the Enforcement investigation due to confidentiality restrictions, which are explained further here: www.fca.org.uk/freedom-information/information-we-can-share<snip> Very interesting the use of this phrase. Some background info from FCA website: Investigation opening criteria: Of course, the page (and referenced materials) make it clear that the commencement of an investigation in no way means there absolutely has been any misconduct, but... As an aside, you can start to see why CG&Co are getting twitchy about seeing their fees covered. If the FCA are getting into FS' 'nitty-gritty' then CG&Co's time spent servicing the FCA's requests will be significant.
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Post by brummiefred on Feb 23, 2021 17:40:35 GMT
Got the same reply short time ago.
Ruth Sutherland's article in 'Thisismoney.co.uk' includes the para ''The so-called watchdog has repeatedly betrayed customers, investors and taxpayers through its culture of delay, avoidance and slavish adherence to its arid rule book.''
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Post by portlandbill on Feb 23, 2021 18:18:41 GMT
Mods..if this shouldnt be here, move it please received 16.25 23/02/21 The delay in considering your complaint Please accept my sincere apologies for the delay in deferring your complaint and for any distress or inconvenience this may have caused. In view of the late deferral of your complaint and the amount of time you have had to wait so far, I would like to offer you an ex-gratia payment of £50. I would be grateful if you could let me know by 12 March 2021 if you would like to accept this payment. If you require further time to consider this please let me know. Im presuming many others have received this..any thoughts or comments please ? Only £50? I gotgoffered considerably more than that. I wonder what they use to determine the offer? Length of time since complaint made? Compensation requested? Amount invested?
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Post by mollypoppy on Feb 23, 2021 18:35:02 GMT
Mods..if this shouldnt be here, move it please received 16.25 23/02/21 The delay in considering your complaint Please accept my sincere apologies for the delay in deferring your complaint and for any distress or inconvenience this may have caused. In view of the late deferral of your complaint and the amount of time you have had to wait so far, I would like to offer you an ex-gratia payment of £50. I would be grateful if you could let me know by 12 March 2021 if you would like to accept this payment. If you require further time to consider this please let me know. Im presuming many others have received this..any thoughts or comments please ? Only £50? I gotgoffered considerably more than that. I wonder what they use to determine the offer? Length of time since complaint made? Compensation requested? Amount invested? Same here offered more than £50
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Post by p2psws on Feb 23, 2021 19:21:06 GMT
Only £50? I gotgoffered considerably more than that. I wonder what they use to determine the offer? Length of time since complaint made? Compensation requested? Amount invested? Same here offered more than £50 Are you talking magnitudes more? Or just a hundred quid more? I got offered £100 more, and thinking whether I should make them a counter offer. Also, why are they not doing the same for my complaints about Lendy and Col!? Its not even 0.5% of what they are complicit in losing me, so its all peanuts really. I just hope that stiff jail sentences are given to those that deserve it, and all monies compensated to everyone else.
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ilmoro
Member of DD Central
'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 23, 2021 19:45:51 GMT
Same here offered more than £50 Also, why are they not doing the same for my complaints about Lendy and Col!? Because they havent strung you along on Coll & Lendy, teasing you that they were going to resolve the complaint shortly only to the slam the shutters down as your fingers clutched at the straws offered. Coll & Lendy slammed the shutters down before you had even chance to dream so no compo.
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kermie
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Post by kermie on Feb 23, 2021 21:00:58 GMT
Only £50? I gotgoffered considerably more than that. I wonder what they use to determine the offer? Length of time since complaint made? Compensation requested? Amount invested? I got the update/letter - but no offer - I only complained to the FCA about their conduct wrt FS quite recently, so I think length-of-time-since-complaint-made must be a factor.
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foolsgold
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Post by foolsgold on Feb 23, 2021 22:49:22 GMT
Ive received correspondence from a slightly different address previously to this one so I would caution anyone from passing bank details unless we have confirmation that its not a scam
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