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MSE's Vinno "a hero"
EdInvestor
Posts: 15,749 Forumite
:T
...his endowment court case is a breakthrough, says Which?
Independent
"Red" endowment shortfall letters which don't mention the three year time-bar deadline to make a complaint don't count in starting the clock, according to the judgement.
Which? is considering bringing a case to a higher court to set a legal precedent.
...his endowment court case is a breakthrough, says Which?
Independent
"Red" endowment shortfall letters which don't mention the three year time-bar deadline to make a complaint don't count in starting the clock, according to the judgement.
Which? is considering bringing a case to a higher court to set a legal precedent.
Trying to keep it simple...
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Comments
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Thats brilliant. Congrats Vinno :j"There are only two lasting bequests we can hope to give our children; one of these is roots, the other wings" - Hodding Carter
:A ~~~ Spread some good Karma ~~~ :A0 -
brilliant vinno all your hard work and effort will help lots of people! :beer: :AI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Can't help but notice the underlying arrogance of the FSA spokesperson.They're not worried about the legal threat, but then the money doesn't come out of their pockets so why would they be? Let's hope some journo really goes to town on their procedures and show them up for the joke they are. The FOS still insist that they are just following FSA rules, but we all know that what they do is interpret them as they see fit. There are many posters on this board that make great play of the fact that only about 25% of complaints referred to the FOS go in favour of the consumer. Its scandalous that consumers have to refer a complaint to the FOS. Firms should do their job properly. Also how many of the 75% not upheld are done so on the basis that they are time barred?.
Unfortunately an honest approach to the endowment scandal(and it is a scandal) would end up costing the establishment a lot of money, so it's joe public that carries the can yet again.
regards Vinno0 -
Vinno - the FSA and the FOS are certainly part of the problem.
Many here know I won official complaint proving the FSA to be without integrity - so I know what I am talking about.
This so-called endowment 'redress' is an excercise in preventing fraudulant directors from going to jail and trying to keep confidence in the markets and finance industry.
Any big fines that the odd crooked firm pays the FSA gets passed down to the consumers.
We get conned by these bent financial firms and end up paying their fines to FSA for them.0
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