London Capital and Finance

masonic

Poorlyone wrote: »

Thanks for the reply. So what happens then (if yiu happen to know) if a company verbally tells you one thing, but the paperwork says something different. Is it down to the consumer to read the paperwork so it doesnt contradict? To put it in a regulated world..if i purchased a savings policy on the understanding it couldnt go down in value, but the letter the adviser sends says it can...iand i dont read the letter as its 20 pages long , would i have any come back, so to speak.

If there is a written contract then that trumps anything that is agreed orally. If what you are told orally contradicts what is written in the contract, then you'd find it difficult to demonstrate that was the case. If you have a written statement from the firm contradicting what is written in a regulated contract, then under the clear, fair and not misleading rules, you'd have a case for misselling. Either way, you should read the contract because it is much easier than pursuing a claim that may or may not be successful. For an unregulated contract, it's buyer beware.

eskbanker

{text_removed_by_MSE_Forum_Team} wrote:

if i purchased a savings policy on the understanding it couldnt go down in value

While accepting that you were (hopefully) hypothesising, the language alone would ring alarm bells here - if you want to put your money somewhere safe, you'd typically deposit into a savings account, rather than purchasing a savings policy.

It's so important that people read wording carefully and are prepared to review terminology with a critical eye before parting with their hard-earned cash.

System

masonic wrote: »

If there is a written contract then that trumps anything that is agreed orally. If what you are told orally contradicts what is written in the contract, then you'd find it difficult to demonstrate that was the case. If you have a written statement from the firm contradicting what is written in a regulated contract, then under the clear, fair and not misleading rules, you'd have a case for misselling. Either way, you should read the contract because it is much easier than pursuing a claim that may or may not be successful. For an unregulated contract, it's buyer beware.

Thankyou for the clarification, that was really well explained

System

eskbanker wrote: »

While accepting that you were (hopefully) hypothesising, the language alone would ring alarm bells here - if you want to put your money somewhere safe, you'd typically deposit into a savings account, rather than purchasing a savings policy.

It's so important that people read wording carefully and are prepared to review terminology with a critical eye before parting with their hard-earned cash.

I was hypothesizing, but you have also alerted me that if you “purchase” a policy there is prob risk involved. Thankyou,

robatwork

bail-in wrote: »

Sledger, any corporate solicitor would advise within minutes, although they may spin the consultation out, to the effect of not touching LCF and it's like with a bargepole.

Blimey this isn't what you said many hundreds of posts ago when people were warning against LCF investment. Sadly many posts were deleted, and many of us got warnings and bans due to our reaction.

bail-in

Sledger, {text removed by MSE Forum Team} was planning to place the bonds on the Maltese stockmarket. He would need to have a company incorporated in Malta to do that. That is something aside from the Maltese company owning 75% of GST. The legally required security trustee has fiduciary duties but in this case it would be appointing an administrator or a liquidator depending on whether or not ceasing business, for example. GST would not have a fiduciary duty to chase the assets, in contrast to a charity trustee.

bail-in

robatwork, I actually in the past LCF conversations did mention the corporate solicitor, a friend of the family, who advised me then re LCF and the bargepole using his words. It was posted way back, perhaps in the Review or and in one of my posts which were also deleted. I perceived then, re deletion of posts, the difference was the Forum Team deleted your et al posts whereas my posts were deleted by posters pressing the spam button.

Reaper

Reaper wrote: »

For a while MSE invited people working for regulators etc to answer questions from the forum. Maybe we could ask MSE to revive it as there are many questions I would love to ask the FCA such as...

I have posted this over on the Feedback forum. Feel free to add any questions of your own
https://forums.moneysavingexpert.com/discussion/5954137/please-can-we-invite-an-fca-representative-for-q-a

jimjames

After the announcement yesterday that LCF have passed the management of the company to Global Security Trustees Ltd it now means that all the assets of London Capital & Finance are controlled by a company in Malta called Oracle Ltd.

https://damn-lies-and-statistics.blogspot.com/2019/01/oracle-ltd-malta-trustees-gst.html

Has anyone got an idea or access for how to look at Maltese company directors? I've drawn a blank so far

badger09

jimjames wrote: »

After the announcement yesterday that LCF have passed the management of the company to Global Security Trustees Ltd it now means that all the assets of London Capital & Finance are controlled by a company in Malta called Oracle Ltd.

https://damn-lies-and-statistics.blogspot.com/2019/01/oracle-ltd-malta-trustees-gst.html

Has anyone got an idea or access for how to look at Maltese company directors? I've drawn a blank so far

According to this, searching the Maltese Business register is free

https://e-justice.europa.eu/content_business_registers_in_member_states-106-mt-en.do?member=1

however, looks like you have to be a registered user

https://registry.mfsa.com.mt/ROC/index.jsp#editRegistration.do?action=Create&fKey=true

over to you jj - happy sleuthing:)