Prime Time -- Custom House Capital ???

[Steven Barrett]

Maybe and Perhaps, but for those that are empowered to regulate the law to do nothing is pretty disgraceful

I agree. To know about what was going on in 2007 and do nothing is a disgrace. People's lives have been ruined from what went on in CHC yet no one is being held accountable, neither the directors of CHC nor anyone in the CB who took CHC's word for it instead of actually checking to see if money was being stolen. When Appian took over the client bank, they discovered this immediately.

As an authorised advisor, I have to contribute every year to a compensation fund for people who are the result of fraud. So all the honest, good advisors have to pay for the rest. There has been just 1 payment from Fund B of the ICCL fund and that was for £4,800. So advisor fraud is not really an issue but we are being tarred with the same brush.


Steven
www.bluewaterfp.ie

 

[mercman]

The majority of Investors do not know about the existence of the ICCL. If they were known about, I would say that many investors that have been subjected to incorrect procedures would have gone knocking. Let's face it and from reading about past cases the FSOB is not what you'd call user friendly for persons that have been missold Investment products.

As for the Central Bank and if contacted by an investor, they will quote some section of some act and a sub section which covers them from releasing any details and allows the offenders off the hook. Pure Gobblegook in a Banana republic.

 

[Gerry Canning]

Sbarrett/Mercman;

I disagree.
Our Central Bank has done a wonderful job of ensuring that their cronies in Financial Services remain untouched , whilst giving the impression that Central Bank is an actual Regulator.

Ally this to the occasional trumpeting of Central Bank guidelines and Mr Consumer believes all is well in the Land of the Regulator.
Sure it was only the (little) people that were conned.

Rant over!