Search found 26 matches

by swynn
December 11th, 2016, 9:59 am
Forum: Banking Sector
Topic: RBS
Replies: 4
Views: 1302

Re: RBS

The FCA says: "RBS did not set out to artificially engineer a position to cause or facilitate the transfer of a customer to GRG; SME customers transferred to GRG were exhibiting clear signs of financial difficulty;" On the contrary there is a huge amount of evidence that RBS was transferri...
by swynn
November 30th, 2016, 10:03 am
Forum: Investment Trusts and Unit Trusts
Topic: Competition between asset managers
Replies: 15
Views: 1915

Re: Competition between asset managers

The FCA "has stopped short of recommending a cap on fees". I am recommending a cap on portfolio turnover. This has generated a considerable amount of correspondence, and now a four page Complaints Commissioner decision (ref FCA00212).
by swynn
November 28th, 2016, 6:48 am
Forum: Banking Sector
Topic: Captured regulators
Replies: 1
Views: 633

Re: Captured regulators

The TSC is continually saying the regulators "made mistakes" and need to "learn lessons", as in the report: http://www.publications.parliament.uk/pa/cm201617/cmselect/cmtreasy/582/582.pdf "The Financial Reporting Council (FRC) decided not to investigate the auditing of HBOS...
by swynn
November 27th, 2016, 4:58 pm
Forum: Banking Sector
Topic: Captured regulators
Replies: 1
Views: 633

Captured regulators

The TSC is continually saying the regulators "made mistakes" and need to "learn lessons", as in the report: http://www.publications.parliament.uk/pa/cm201617/cmselect/cmtreasy/582/582.pdf "The Financial Reporting Council (FRC) decided not to investigate the auditing of HBOS ...
by swynn
November 22nd, 2016, 11:15 am
Forum: Banking Sector
Topic: SME Anguish
Replies: 2
Views: 804

Re: SME Anguish

"Some of the evidence and practices I have seen are utterly disgraceful."

How does this square with "fair treatment of customers" on the FCA's website?

http://www.fca.org.uk/firms/fair-treatment-customers
by swynn
November 19th, 2016, 10:53 am
Forum: Banking Sector
Topic: SME Anguish
Replies: 2
Views: 804

SME Anguish

From Bully Banks: "It is therefore clear to me and no doubt many others that the FCA Review and Redress Scheme is not fit for purpose and is allowing the continuing, systematic abuse of SMEs by the banks. It is simply not conceivable that an SME suffers no financial loss by being mis-sold a car...

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