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  • FIRST POST
    • MSE Naomi
    • By MSE Naomi 8th Nov 18, 4:22 PM
    • 71Posts
    • 18Thanks
    MSE Naomi
    Regulator enlists Gok Wan and Fred from First Dates in PPI campaign - MSE News
    • #1
    • 8th Nov 18, 4:22 PM
    Regulator enlists Gok Wan and Fred from First Dates in PPI campaign - MSE News 8th Nov 18 at 4:22 PM
    First it used Arnold Schwarzenegger's animatronic head to urge consumers to reclaim PPI - now the Financial Conduct Authority has enlisted two more celebrities in its campaign as next year's deadline approaches...
    Read the full story:
    'Regulator enlists Gok Wan and Fred from First Dates in PPI campaign'

    Click reply below to discuss. If you havenít already, join the forum to reply.
Page 1
    • grumbler
    • By grumbler 9th Nov 18, 9:21 AM
    • 51,442 Posts
    • 21,792 Thanks
    grumbler
    • #2
    • 9th Nov 18, 9:21 AM
    • #2
    • 9th Nov 18, 9:21 AM
    Are all these adverts free to produce and broadcast?
    If not, it's beyond me why taxpayers money is wasted on this nonsense.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • Nasqueron
    • By Nasqueron 9th Nov 18, 10:11 AM
    • 5,992 Posts
    • 3,624 Thanks
    Nasqueron
    • #3
    • 9th Nov 18, 10:11 AM
    • #3
    • 9th Nov 18, 10:11 AM
    Are all these adverts free to produce and broadcast?
    If not, it's beyond me why taxpayers money is wasted on this nonsense.
    Originally posted by grumbler

    Tax office gets a bit of cut on the interest element of refunds, also government actually doing something to help people get money back if they are owed it is no bad thing.
    • Moneyineptitude
    • By Moneyineptitude 9th Nov 18, 10:17 AM
    • 22,476 Posts
    • 12,034 Thanks
    Moneyineptitude
    • #4
    • 9th Nov 18, 10:17 AM
    • #4
    • 9th Nov 18, 10:17 AM
    If not, it's beyond me why taxpayers money is wasted on this nonsense.
    Originally posted by grumbler
    To be fair, attention-grabbing adverts will work far better than some unknown individual simply making an announcement about the deadline.
    • grumbler
    • By grumbler 9th Nov 18, 10:18 AM
    • 51,442 Posts
    • 21,792 Thanks
    grumbler
    • #5
    • 9th Nov 18, 10:18 AM
    • #5
    • 9th Nov 18, 10:18 AM
    Tax office gets a bit of cut on the interest element of refunds, also government actually doing something to help people get money back if they are owed it is no bad thing.
    Originally posted by Nasqueron
    The government and the FCA should have done their job to prevent this happening in the first place, not to waste money afterwards.
    And, IMHO, funding any authority, even partly, by fines, refunds etc. is fundamentally wrong. This make the authority biased.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • grumbler
    • By grumbler 9th Nov 18, 10:23 AM
    • 51,442 Posts
    • 21,792 Thanks
    grumbler
    • #6
    • 9th Nov 18, 10:23 AM
    • #6
    • 9th Nov 18, 10:23 AM
    To be fair, attention-grabbing adverts will work far better than some unknown individual simply making an announcement about the deadline.
    Originally posted by Moneyineptitude
    I am sick of these adverts on radio and TV. Everyone who wanted to hear, already heard them. The job is to deliver information to those who want it, not to "grab attention" of those who couldn't care less when buying PPI and can't care less now.
    I stick to my guns - it's wasting taxpayers money.
    Last edited by grumbler; 09-11-2018 at 10:26 AM.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • dunstonh
    • By dunstonh 9th Nov 18, 10:52 AM
    • 95,825 Posts
    • 63,539 Thanks
    dunstonh
    • #7
    • 9th Nov 18, 10:52 AM
    • #7
    • 9th Nov 18, 10:52 AM
    They are playing to their target audience.

    It's not wasting taxpayers money. Its wasting financial services companies money. The FCA is funded by a levy on financial firms.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Nasqueron
    • By Nasqueron 9th Nov 18, 10:54 AM
    • 5,992 Posts
    • 3,624 Thanks
    Nasqueron
    • #8
    • 9th Nov 18, 10:54 AM
    • #8
    • 9th Nov 18, 10:54 AM
    The government and the FCA should have done their job to prevent this happening in the first place, not to waste money afterwards.
    And, IMHO, funding any authority, even partly, by fines, refunds etc. is fundamentally wrong. This make the authority biased.
    Originally posted by grumbler

    The problem is that the regulation wasn't in place, the government decided that the banks had to cover cases going back to the 1980s. The banks argued applying regulation retrospectively was unfair but the courts went against them, hence the whole industry starting up as people were able to complain about being miss-sold, using regulations that weren't in place when they were sold.


    In essence it's like you driving at 40mph in a 40mph zone, then the road is changed to 30mph and you get a ticket for doing 40mph even though the limit was changed after your drove down the road.



    https://www.theguardian.com/money/2011/apr/20/fsa-wins-ppi-battle-banks
    • grumbler
    • By grumbler 9th Nov 18, 11:41 AM
    • 51,442 Posts
    • 21,792 Thanks
    grumbler
    • #9
    • 9th Nov 18, 11:41 AM
    • #9
    • 9th Nov 18, 11:41 AM
    They are playing to their target audience.

    It's not wasting taxpayers money. Its wasting financial services companies money. The FCA is funded by a levy on financial firms.
    Originally posted by dunstonh
    Well, a levy is definitely better than fines and refunds. However wasting levy isn't justified either. It's not a business with a target audience. FCA job is to regulate and prevent in the first place.


    MY another pet hate is FSCS with their absolutely pointless radio adverts on some radio stations.
    Last edited by grumbler; 09-11-2018 at 11:49 AM.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • dunstonh
    • By dunstonh 9th Nov 18, 12:07 PM
    • 95,825 Posts
    • 63,539 Thanks
    dunstonh
    Well, a levy is definitely better than fines and refunds.
    not for me it isnt! It is the single largest bill I have to pay a year. And lets not forget that any bill a financial services company has to pay is reflected in the charges that consumers have to pay.

    FCA job is to regulate and prevent in the first place.
    It is. However, it is too busy micromanaging the insignificant things leaving it no resources to deal with the important stuff. its far more important for the FCA to criticise firms for putting something on page 8 of a report instead of page 3 than it is to prevent consumers to be scammed out of their money.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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