ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 16, 2024 19:45:51 GMT
This has been discussed on here before, but I'm not particularly bright, and I still wonder if I am missing something that one or more of you very informed & learned lot out there might opine further on and add some enlightening sage thoughts?
We, (I anyway), KNOW that arse covering "Reputational Management" is THE Number One Priority of the FCA, above ALL else, it IS their raison d'etre, and it comes long before and at the expense of any consideration of silly "Consumer Protection".
Given that one or more individuals are very EASILY proven to be 100% Guilty of Blatant FRAUD, WHY has the FCA done ...................... nothing?
I can but repeat my opinion that it is because the FCA is absolutely terrified of the wider public becoming aware (educated?!) of what a Crock of Gross Incompetence the FCA is, if they were to instigate Proceedings.
But, as I say, maybe I'm missing something, and there's more to this monumental FCA facilitated financial fiasco than my tiny mind can comprehend?
Thoughts please?
I thank you.
OzBoy.
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bugs4me
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Post by bugs4me on May 16, 2024 21:46:57 GMT
ozboy - you've really already answered your question yourself - '....Crock of Gross Incompetence the FCA is, if they were to instigate Proceedings....'
It's not just FS but a host of other financial services companies that the FCA have managed to prove to anyone with an ounce of intelligence that they, the FCA, are simply not fit for purpose. If there's a 100% chance that they will not be seen in a poor light then they may prosecute. On the other hand, if there's just a 1% chance they may be found out for what they are - a bunch of incompetents (and that's being nice about it) then it's let's have a review time (again).
Any review which casts a shadow of doubt over the FCA, should it ever be completed, will not be publised and deemed as not in the public interest
The FCA cause far more harm by their existance giving folks false comfort. They should be abolished - that simple in my opinion.
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adrian77
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Post by adrian77 on May 16, 2024 21:53:39 GMT
totally agree with the above 2 gents - as I have said before I do wonder just how much serious criminal involvement has taken place here
- probably matched by the gross incompetence of the FCA and their desire to hide reality - maybe they were trained by the former Post Office "management"?
Sorry chaps but like the PO - you can run but you can't hide and the truth will come out
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 16, 2024 22:01:07 GMT
Funnily enough, before I checked back on this thread, literally minutes ago I asked on the PO Horizon thread whether The Post Office had taken Operational Guidance from the FCA?
Great Minds think alike!
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duck
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Post by duck on May 17, 2024 5:25:23 GMT
I have to differ here. The FCA are a beacon of openness, efficiency, helpfulness, resourcefulness, the champion of consumers. As an example I would point to how well they have dealt with me wrt Collateral. Right, time for my meds! [/sarcasm]
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mah
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Post by mah on May 18, 2024 10:54:16 GMT
C'mon ! This is what they say.
Poor (my addition) FCA regulated about 58,000 firms – so it had to take a proportionate approach to the supervision of firms. In 2014, we had taken on responsibility for approximately an additional 50,000 consumer credit firms regulated by the OFT. The FCA had limited information about these firms, and so had to make difficult decisions on where to prioritise resources. The FCA chose to prioritise high-cost consumer credit, which led to significant consumer benefit (at the cost of P2P - who the hell are they to demand our attention - my addition).
[ my Bolding of original FCA Statement and strikethrough of my addition ] Sarcasm Hat Off
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