store first

Malthusian

dunstonh wrote: »

If you didn't then you can complain that the SIPP provider allowed you to buy an unsuitable asset. That probably won't work but in rare cases it does.

There's now considerable FOS precedent that if there was no adviser, the SIPP provider is liable for failing to do due diligence. There were two court cases brought by SIPP providers trying to wriggle out of their responsibility. One has already lost (Berkeley Burke) and the other case (Carey Pensions) seems to have gone quiet since October 2018. (Not sure what happened there as it's my impression that a judgment was expected shortly.)

The Carey Pensions case specifically relates to someone who was conned into investing in Store First. Unless the High Court rules in favour of Carey Pensions - which seems unlikely as it would contradict the previous Berkeley Burke ruling - I can't see any reason why an FOS complaint against Rowanmoor for facilitating Store First would not succeed.

Unless of course Pwllmawr1 was advised by an FCA-regulated adviser, in which case as you say the complaint goes to them.

dunstonh

Berkeley Burke have been given a right to appeal. The judge at the court of appeal said the decision was potentially one of "considerable and wider importance within the industry and for customers." - in today's press.

Malthusian

(cross post with DunstonH)

By a strange coincidence, on the day I posted that post, Berkeley Burke were given leave to appeal the decision.

The position remains however that the facilitators of fraud have been defeated on every single front. And Berkeley Burke still appears to be sticking with its moronic idea that the ruling created "a back-door duty of care" when in fact that duty of care has been well established in trust law for centuries, so the likelihood is that they will be defeated again. And all that will happen is that some lawyers will enrich themselves further at the FSCS's eventual expense. (Which is of course why their fellow lawyers in red robes and silly wigs allowed BB to appeal.)

It can therefore be assumed that SIPP providers will remain liable for facilitating scams when there wasn't an FCA-regulated adviser to pass the buck on to.

Ammersfan53

I recently recieived an unsolicited approach from GRL, promising a large offer for my dead StioreFirst investment. Scam was my first thought, but desperation leads me to ask whether anybody successfully dealt with this off shore company?

enator

You really need to put your brain into gear - it's a scam.


Why would they pay top dollar for a worthless investment?

wendywardrobe

I'm a customer of Store First and after a recent house move have put a lot of my possessions in a storage pod in a Store First unit. I can't find any information about what the potential winding-up of the business might mean for me and my possessions? Does anyone have any idea? I'm at a loss to know where to look for info either.
Thanks in advance....

Aretnap

wendywardrobe wrote: »

I'm a customer of Store First and after a recent house move have put a lot of my possessions in a storage pod in a Store First unit. I can't find any information about what the potential winding-up of the business might mean for me and my possessions? Does anyone have any idea? I'm at a loss to know where to look for info either.
Thanks in advance....

Presumably there is provision in your contact for StoreFirst to terminate your arrangement and give you notice to remove your possessions. Probably best to assume that you will get notice at some point and start thinking about alternative places to store them.

[Deleted User]

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AnotherJoe

K_F_Day wrote: »

This is a huge scale scam with involvement from not only big corporatations but also members of government. It needs exposing. Victims of the store first scam have now had their business rates doubled to top off their already life changing losses. Its disgusting this has been allowed to happen. Does anyone know of an investigative journalist that would be willing to take this on? Its be the scandal of the century but we need help to being this corruption to the public. There are lots of leads already but just need help tying them up. It feels like there is nowhere to turn in this massive pension scandal.

Which members of government???

jaybeetoo

BBC Radio 4 You & Yours today had an item about Store First and business rates https://www.bbc.co.uk/programmes/m0007djl