Stop Financial Crime/Fraud,
The #LCF scam indicates central role of the regulatory system #fca and #HMRC in major public loss through approving #IFISA /#FRbonds
It is not only consumers who are confused about @thefca role, it is all the MPs and government officials who expect consumer protection by @thefca! One billion loss of public money to scams, fraud, dodgy financial businesses show @thefca is doing nothing!
https://t.co/ZnJ8H2CgrX
I have just watched the @CommonsTreasury session with Mr Rathi and Mr Lloyd from earlier this week and statements made by them in respect to Blackmore Bond. I have just written to Mr Lloyds to raise concerns. I have been blocked from emailing him. @TransparencyTF @appgonpbandffs
The @theFCA needs to be disgraced over this. They are fully aware that failed Copia Wealth (involved in Westway, Satchi etc) has allegedly phoenixed into London Court which provides various services (including ISA manager) for dodgy bond offers like this.
@RichardJLloyd
IMPORTANT QUESTIONS:
1. Why didn't @theFCA act over multiple FSMA breaches to stop this in order to protect consumers?
2. Why has @theFCA left it to @insolvencygovuk to investigate the FSMA breaches after the event?
= multiple MASSIVE failures of statutory duty
Disgracefully MISLEADING headline from @theFCA on financial promotions interventions. Dig into the detail & you find they only reviewed 340 & only issued 1 s137S banning notice. 3878 of the 4151 were exceptional outcomes of a Credit Brokers Dear CEO letter
https://t.co/HnFmkkrrFt
1/2 It would be a huge result for consumers if this amendment became law. As I understand it, it means that ordinary consumers that have been harmed as a result of catastrophic regulatory failure by @TheFCA could litigate against it. That's a win on 2 levels. Firstly, it...
I'm hoping they talk about the need for the removal of @TheFCA's immunity form civili liability; plus all the catastrophic regulatory failure cases such as Blackmore Bond, Woodford, IRHP mis-selling, etc. And what's the hold-up on the Dobbs Review (again!) What else folks?
Ex-FCA employee accuses regulator of ethnic discrimination over bonuses, but tip of the damaging iceberg of evidence here https://t.co/TyKNi8t4M1
@theFCA is totally dysfunctional. As @thatginamiller has been saying Independent Inquiry needed @JohnGlenUK
https://t.co/T8Vd8FgNWI
Remember>
"Cold-calling agents & introducers took £1M of the money, with the 4 scammers sharing the rest. Just £3.2M was actually invested, of which £2M was sunk into an off-plan hotel development in St Lucia & an unregulated commercial property bond."
https://t.co/v6bL5fopPF
Rearrange: bolted door the after horse the shutting
"@theFCA has introduced emergency rules to prevent all firms which gave pension transfer advice to five or more members of the British Steel Pension Scheme (BSPS) from disposing of their assets."
https://t.co/9xjCUs8hhY
The @theFCA's 'halo effect' strikes again 👇
"Vector Wealth Ltd is a @theFCA auth firm that issued a mini-bond... The marketing material... stated that the proceeds.. would be used to generate returns for investors through trading foreign exchange."
https://t.co/IdLZyHDPBE
1/2
Important Meeting of the @CommonsPAC
It is scheduled to take place this Wednesday, 27th of April at 13:30, and it is about @TheFCA's much-criticised handling of the British Steel Pension Scheme scandal, see here...
1/7
SPECIAL ANNOUNCEMENT - MARCH TO PARLIAMENT!
There is going to be a march in London to protest about the @TheFCA's conduct and its chronic and catastrophic failure to provide an appropriate degree of consumer protection, over many years.
The march is open to all but will...