London Capital and Finance

Supercalafragalistic

sully1311 wrote: »

RE: Blackmore

I can't find their bonds on the website anymore. In fact everything has been removed except info about the 'invested projects' and a login link.

Something is going on....

Botheredin wrote: »

The two founders and operators of BB don't give a s**t much like the others involved in LCF.

Turn to the other "companies" involved in this and that 2 co-directors linked to other companies owned by one or more of these clowns have committed suicide and attempted suicide (2 have died btw) what does that tell you?

Let's just call it what it is... Human greed, lack of morals and a whole heap of bulls**t, subterfuge and out right lies designed to take others money regardless of the cost to others.

Jeez..suicide:( . ? Does that mean conscience kicked in? Or got in trouble and were then worried? It really really is another universe!

AnotherJoe

Do you think HRMC, FCA and advertising standards might wake up and strangle these new scammy outfits at birth rather than waiting for consumers to start losing money? When a new company arises using exactly the same methods as ones that have been shut down (ineligible ISAs misleading ads, placement of text regarding FCA regulation next to products which are not regulated) why wait?
And at the same time stop Facebook carrying these ads as well in the same way they used to (I hope they've gone..) host the fake Martin Lewis and dragons den scam ads.

GDB2222

AnotherJoe wrote: »

Do you think HRMC, FCA and advertising standards might wake up and strangle these new scammy outfits at birth rather than waiting for consumers to start losing money? When a new company arises using exactly the same methods as ones that have been shut down (ineligible ISAs misleading ads, placement of text regarding FCA regulation next to products which are not regulated) why wait?
And at the same time stop Facebook carrying these ads as well in the same way they used to (I hope they've gone..) host the fake Martin Lewis and dragons den scam ads.

I contacted Yahoo over the fake ads they were carrying. They simply ignored me and the ads continued.

Reaper

AnotherJoe wrote: »

Do you think HRMC, FCA and advertising standards might wake up and strangle these new scammy outfits at birth rather than waiting for consumers to start losing money? When a new company arises using exactly the same methods as ones that have been shut down (ineligible ISAs misleading ads, placement of text regarding FCA regulation next to products which are not regulated) why wait?

It would be nice but the FCA view to date has been its responsibility is regulated businesses only. It's up to investors to take responsibility if they go "off piste".

Furthermore almost all the worst cases are not UK based, they are set up abroad (sometimes with a UK virtual office address), trade for a short time, then close up shop and re-open under another name. There are far too many of these and they are far too difficult for the FCA to trace and prosecute. At the time of writing the FCA warning list runs to 4622 firms:
https://www.fca.org.uk/consumers/unauthorised-firms-individuals

With this background being part regulated only the regulated part of LCF was of interest to the FCA.

However I think things do need to change. The FCA view is too narrow. Firms like LCF should not be able to claim "FCA Regulated" when conducting unregulated business.

Unregulated firms should not be allowed to advertise. Section 21 isn't so much of a loophole as Swiss cheese. Firms should not be able to avoid submitting accounts using other loopholes.

I could go on but I've said all this before
https://forums.moneysavingexpert.com/discussion/5954137/please-can-we-invite-an-fca-representative-for-q-a

dunstonh

Do you think HRMC, FCA and advertising standards might wake up and strangle these new scammy outfits at birth rather than waiting for consumers to start losing money?

The FCA is far too busy micromanaging the insignificant to notice the big issues.

Catrina777

FCA told me on the phone they find it easier to educate the public than go after the scammers. They seem to have used emails I forwarded to them at their request to update a thread on the disqus website about a crypto currency scam. Still surprised the LCF scam was allowed to go on for so long though.

eskbanker

dunstonh wrote: »

The FCA is far too busy micromanaging the insignificant to notice the big issues.

I'd say that they can't see the wood for the trees but let's not get started on dodgy forestry investments....

Malthusian

Catrina777 wrote: »

FCA told me on the phone they find it easier to educate the public than go after the scammers.

We're not talking about a cryptocurrency bucket shop based in Estonia or the Ukraine taking in a few tens of thousands from cold calling. We're talking about a scheme based right here in the UK, openly advertising in the UK, that they gave authorisation despite previous warnings, in doing so actively assisting them to take in £230m of UK life savings.

skattie

I would just like to say thank you to this thread and those that urged caution against LCF, I was tempted but fortunately withdrew from this opportunity, thanks to the comments early on in this thread

Rheumatoid

https://www.bbc.co.uk/news/business-47679192