rogerthat
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Post by rogerthat on Jan 8, 2022 13:04:15 GMT
Well well..in the DT today www.telegraph.co.uk/investing/news/brothers-charged-fraud-collapsed-peer-to-peer-lender/"The Financial Conduct Authority has brought charges of fraud and benefiting from the proceeds of crime against Peter and Andrew Currie, who ran an unregulated peer-to-peer loans firm called Collateral until it collapsed into administration in 2018." Dim I may be..but is that insinuating they were not FCA authorised to trade ..and if so, does that help our cause ? (as FS was) |
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Post by portlandbill on Jan 8, 2022 13:20:56 GMT
Probably not going to help us much. The FCA are going after them for claiming to be FCA regulated when they weren't (+ some disappearing funds transfered to Director's personal bank accounts) . The FCA are unlikely to come into any criticism for that. In our case, the FCA can be critised for not regulating or adequately monitoring (or even checking on) a business that they had approved for regulation. They're not going to open themselves up to that.
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trevor
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Post by trevor on Jan 8, 2022 13:28:41 GMT
There is also a major article in the Times business section
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rogerthat
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Post by rogerthat on Jan 8, 2022 13:38:42 GMT
Probably not going to help us much. The FCA are going after them for claiming to be FCA regulated when they weren't (+ some disappearing funds transfered to Director's personal bank accounts) . The FCA are unlikely to come into any criticism for that. In our case, the FCA can be critised for not regulating or adequately monitoring (or even checking on) a business that they had approved for regulation. They're not going to open themselves up to that.
That's precisely the point I'm trying to make. Do I recall that the FCA did in fact inspect and/or instruct FS to make some changes before FS scuttled their own ship ? Wasn't the Reading loan to a relative ? As for disappearing funds.......... 
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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 8, 2022 13:51:24 GMT
Probably not going to help us much. The FCA are going after them for claiming to be FCA regulated when they weren't (+ some disappearing funds transfered to Director's personal bank accounts) . The FCA are unlikely to come into any criticism for that. In our case, the FCA can be critised for not regulating or adequately monitoring (or even checking on) a business that they had approved for regulation. They're not going to open themselves up to that. Except they hadnt.
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rogerthat
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Post by rogerthat on Jan 10, 2022 20:11:39 GMT
There is also a major article in the Times business section Out of curiosity and if you have access, could you post it on here ?..or on DD central..thanks
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