ozboy
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Post by ozboy on Mar 26, 2021 13:53:41 GMT
And what about their supervision manuals that state what their duties are when it comes to supervising both authorised companies and approved persons at those companies. If only the FCA abided by their own rules they set out. In an ideal world the FCA would be all things to all investors. It is not. Investors who take investment decisions in the belief that an FCA imprimatur is a seal of probity would be wise to think again. The Financial Services Industry is huge. There are also vested interests and powerful lobbyists. Supervision will only be cursory with those that step too far out of line de-registered. Mark Steward - Executive Director of Enforcement and Market Oversight at the FCA www.youtube.com/watch?v=iAAmts-TdGg&t=11m46s
Of all the P2P Fiascos, I'd say that Collateral Lenders have a 100% legitimate bone to pick Complaint with Mr Steward and the FCA.
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ozboy
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Post by ozboy on Mar 26, 2021 13:48:50 GMT
Why is the article "tripe"? 1. I disagree with the Orwell comments. All of them. That makes them a poor foundation on which to write an article. 2. There's been a "decades long effort to impose a new flag on our country"? Really? In what fantasy existence? 3. I see no rejection, "political" or otherwise, of our history and heritage, and I see no drive to be ashamed of it. I do see a movement to contextualise our history, and I think that is a good thing.4. As with "... Britain is a bad country". 5. Where is this notion that "national borders are regressive entities"? Who is promulgating it? 6. No evidence provided to support the notion that "These views are common on university campuses and among the higher reaches of the public sector Left". Sounds like complete codswallop to me.7. The little dig at "progressive activists" is pathetic. It's just one long dog whistle. 3 and 6 in particular. Really? 
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ozboy
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Post by ozboy on Mar 26, 2021 13:27:16 GMT
Why is the article "tripe"?
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ozboy
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Post by ozboy on Mar 22, 2021 22:55:44 GMT
Double the rot then?  |
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ozboy
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Post by ozboy on Mar 22, 2021 18:12:50 GMT
ablrate, what ongoing costs is this Loan racking up please? And how are these Costs affecting the LTV? Is the aircraft "rotting" and losing value? Thank you.
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ozboy
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Post by ozboy on Mar 22, 2021 11:56:53 GMT
Thank you Fellow Lenders for your wise and informed inputs.
I don't believe ANY Platform can or will wind down/cease trading "elegantly", and regardless of any FCA Approved Wind Down Plans BS ( ! ) it will always be a Complete and Utter Disastrous Mess.
IMHO.
For that reason I'm erring on the side of caution and probably not investing further with UNB, but will review a few days before Tax Year End.
Thank you all again.
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ozboy
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Post by ozboy on Mar 17, 2021 14:51:37 GMT
Wot's your current thinking on this Oh Learned & Smarter Than Me Fellow Lenders?
The UNB IFISA is flexible so obvs the time is fast approaching if you want to return IFISA withdrawals made from UNB during the current tax year.
I have left token amounts in my UNB Standard and IFISA accounts and am still unsure about lending again.
The way I see it, the Bag Of Excrement Borrower carries on their legal campaign and wears UNB down to where UNB give up because of Costs or UNB win and are awarded Costs etc, but the BOEB declares Bankruptcy and UNB are considerably out of pocket on their legal costs anyway.
I REALLY like UNB but I only see a Lose/Lose which may affect UNB stability.
I am also bruised enough to know that whatever the "Wind Down/Platform Failure" Plan is, it aint worth Jack Merde.
Am I missing something?
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ozboy
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Post by ozboy on Mar 15, 2021 23:00:25 GMT
So far, Bailey has Failed Upwards.
Gobsmacking, when you look at his track record.
I can think of FAR choicer words than "unsavoury."
I imagine we all feverishly await his comeuppance.
That is all.
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ozboy
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Post by ozboy on Mar 12, 2021 22:47:39 GMT
Some of my posts here this evening have disappeared. Have I been censored without even the courtesy to tell me so? One post, for example, invited somebody to Google "pickpocket arrests uk" to research the spread of nationalities involved. I was careful not to mention any particular nation in that post. That post has now vanished. Can anybody explain? Yes. The Mods and Rockers have to play it very, VERY carefully because they don't have funds, legal backup, etc, etc, so err on the side of extreme caution. And they're unpaid volunteers (AFAIK) so it's expedient to just remove the posting and not necessaraily notify you if they don't have the time, inclination, whatever. Perfectly reasonable I suppose, albeit a bit bewildering/annoying for the "Censored" Poster. 
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ozboy
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Post by ozboy on Mar 12, 2021 19:09:33 GMT
Been mentioned, several times before on here, mostly by me probably ..... do your own research, very, very DEEP Due Diligence, this is NOT a recommendation, just a mention of a Platform I invest via and am happy with, blah, blah, yadda, yadda............. www.marketlend.com.au/ |
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ozboy
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Post by ozboy on Mar 8, 2021 14:20:01 GMT
There are some really, REALLY pertinent points being made in this discussion but I suspect they will have been missed by many simply due to the level of dick-swinging posturing that's taking place. ...anywhoooooo... ozboy , a few posts back you stated: " the FCA is only interested in evading culpability for their myriad gross failures and gross incompetencies, they alone in many P2P cases have singularly destroyed people's invested savings." This is interesting. I'm (deeply*) aware of the CollateralUK situation, but not aware of any others. Which platforms did you have in mind and how were the FCA " alone" and " singularly" so culpable, please? * - to be honest, I'm kinda hoping the list isn't too long. It's my belief that the uniqueness of the Col situation - inasmuch as the timing and extent of the FCA's failings before, during and after the event; ie: failure to maintain a register, failure to manage the situation adequately upon discovery and also at the point of ordering the non-IP'd entity to cease trading - is in investors' favour when canvassing for the FCA to be hauled over the coals on this one and, if subsequently deemed appropriate, that compensation is awarded. (Even if the FCA subsequently chose to ignore such a determination.) Good news is this has reminded me I owe duck a PM! No help, but I can't comment at this juncture iRobot.
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ozboy
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Post by ozboy on Mar 7, 2021 19:57:40 GMT
Thank you, but what's immediately obvious is your (deliberate?) failure to embolden 6, 7, and 8. Let the readers on here now carefully read these FCA "Principles" and decide for themselves if the FCA has upheld them re P2P Platforms?  |
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ozboy
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Post by ozboy on Mar 7, 2021 19:29:38 GMT
I think it's much more fundamental than that. If you're the FCA, and you consistently brag and promise to Financial Consumers that "We do this, and we do that", then it would be totally reasonable for Consumers to, errrr, expect that the FCA actually does DO this, and DO that?! Except, in FAR too many cases, they don't! And we won't talk about that absolute howler "Check the Register, it means the firm has been fully checked out & vetted by us , blah, blah", or somesuch misleading nonsense. If the FCA had to Authorise and Regulate themselves they'd have to summarily strike themselves off! Just read through the FCA's "The principles of good regulation" and ask yourself where these have even been near upheld re the failed P2P Platforms? Then read the FCA's "The principles for businesses" for another laugh. ( www.fca.org.uk/about/principles-good-regulation ) I mean, they're quasi/Government, aren't we meant to be able to trust them to do what they say they DO? Observe every time one of the FCA's Senior Management/Board speak, the arrogance and disdain for Financial Consumers is palpable, the FCA is only interested in evading culpability for their myriad gross failures and gross incompetencies, they alone in many P2P cases have singularly destroyed people's invested savings. The FCA has a LOT to answer for. |
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ozboy
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Post by ozboy on Mar 7, 2021 12:05:48 GMT
Flag Waving Cheerleader? I have consistently, from the very start, held the view that most P2P platforms will fail and probably the whole fledgling nano P2P industry. I still hold that view. I’ve never taken the view that I can protect myself from platform failure through platform diversification as many self appointed experienced investors on here used to claim. Nor do I cling to any other non-analytical harbingers of platform survival. My approach has been for, better or worse, to at any one time pick the single most likely platform to survive and focus primarily on just one platform until such time as the foreseeable future darkens. As diligently as possible constantly evaluating as many risks as I can. With few platforms left that are open to retail lenders I can envisage a time in the next year or two where there are no platforms left that I have confidence in surviving and that are remotely offering decent all risks considered adequate rewards. ozboy thank you for your compliment that I “make interesting postings”. I wish I could sincerely return the compliment! Thanks For The Mammaries. (With apologies to Frank Sinatra.)
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ozboy
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Post by ozboy on Mar 7, 2021 11:53:27 GMT
AND he doesn't charge extra to hold in an ISA. This is not investment advice, do your own research and due diligence, yadda yadda yaddda .......... |
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