ganymede
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Post by ganymede on May 20, 2023 8:42:50 GMT
GofundmeI notice we are still £333 short of the initial target. My piggybank is empty (suppose I might get £3 for it now it is redundant) Maybe Mousey could update on what is still needed in reality. Maybe also anybody who has not 'chipped in' yet could help clear it up? Added a tiny bit.
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Mousey
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Post by Mousey on May 31, 2023 16:18:49 GMT
Catching up on some as yet published reports. This one from the afternoon of April 25th: " Collateral Legal Advisor: The FCA "passed us from pillar to post throughout the process"" A compliance director for the failed finance firm Collateral UK Limited took the stand to explain the difficulties the company had when dealing with the Financial Conduct Authority. "There didn’t seem to be a proper handover process when it moved from one caseworker to the next" was one complaint the jury heard. Readers might find an FCA letter, that we've been able to obtain, of interest. |
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amanda373
Anyone downloaded the full transcript of the Court Session with the FCA. .?
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Post by amanda373 on Jun 1, 2023 5:15:32 GMT
Could not open the link . As a follow up from my original complaint to the FCA about their conduct…I received an email following the trial , saying they were reviewing the outcome and will update me further on my complaint .
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tony9239
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Post by tony9239 on Jun 1, 2023 13:43:56 GMT
Catching up on some as yet published reports. This one from the afternoon of April 25th: " Collateral Legal Advisor: The FCA "passed us from pillar to post throughout the process"" A compliance director for the failed finance firm Collateral UK Limited took the stand to explain the difficulties the company had when dealing with the Financial Conduct Authority. "There didn’t seem to be a proper handover process when it moved from one caseworker to the next" was one complaint the jury heard. Readers might find an FCA letter, that we've been able to obtain, of interest. The FCA letter is very much of interest, in particular: "What our (FCA) records show is that on the 12 December 2015, you (PC) logged into the FCA’s CCI system and amended the IP records of Regal Pawnbroker Limited (RPL), changing the name and address details to that of CUKL. It is not possible to transfer an IP granted to one legal entity to that of another legal entity. As a consequence CUKL does not currently have IP to conduct any FCA regulated activities." So, if they knew PC had changed the register in December 2015 then why did they not close Coll down right away? My first loan was bought in mid 2017, some 18 months after the FCA records show the entry was changed.
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kermie
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Post by kermie on Jun 1, 2023 16:36:50 GMT
The FCA did not necessarily know immediately - but judging from the letter's date the FCA knew no later than 29 January 2018.
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jonno
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nil satis nisi optimum
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Post by jonno on Jun 1, 2023 16:56:44 GMT
The FCA did not necessarily know immediately - but judging from the letter's date the FCA knew no later than 29 January 2018. Agreed, but surely the essence of this is why did it take over two years for the FCA to "notice" this?
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SteveT
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Post by SteveT on Jun 1, 2023 17:16:45 GMT
The FCA did not necessarily know immediately - but judging from the letter's date the FCA knew no later than 29 January 2018. Agreed, but surely the essence of this is why did it take over two years for the FCA to "notice" this? Gross incompetence
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11025
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Post by 11025 on Jun 2, 2023 6:34:25 GMT
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jun 2, 2023 12:32:26 GMT
Absolutely. Failey Bailey proved his arrogance and gross incompetence at the FCA, and now he's proving it yet again in the big chair at the BoE. Can he be fired, got rid of somehow? He simply HAS to go.
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mah
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Post by mah on Jun 2, 2023 20:29:47 GMT
He can't - too many vested interests - across Party Lines - Big Boys' Club !
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metoo
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Post by metoo on Jun 3, 2023 2:02:23 GMT
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agent69
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Post by agent69 on Jun 3, 2023 9:30:08 GMT
was it ever established whether companies being able to alter their status on the register was intentional, or the result of an IT glitch?
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11025
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Post by 11025 on Jun 3, 2023 10:35:46 GMT
Aiui this wasn't a glitch but more a feature of the platform setup which the fca were aware of - but unsurprisingly the fca had no controls , constraints or failed to monitor it ...
All sounds a bit too familiar now doesn't it.
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Mousey
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Post by Mousey on Jun 3, 2023 11:43:26 GMT
was it ever established whether companies being able to alter their status on the register was intentional, or the result of an IT glitch? The court was then told how the process of changing the registered name on the Interim permissions register worked. It was said the FCA had even produced a guide telling users how to do it. The evidence of this was logged on a system called CCI. ... Aylott [defense barrister], referring to the guide: " Really what this is, is a walk-through guide to how to do this on the website, … we can see that step by step process on Page 7 …. “change firm details”. "A couple of options there … one option is “change firm name” and then below that is the trading [name] option as well."
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Mousey
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Post by Mousey on Jun 12, 2023 19:18:14 GMT
Exclusive: Read the 86-page transcript of the interview between Peter Currie and the FCA, held at Blackpool Police Station on 10th November 2020, available on my blog |
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