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TXO Plc Share Discussion Threads
Showing 26151 to 26158 of 26175 messages
Why not get some shares in Tim's brother in law's brewery:
Don't worry that the crowd funding firm is run by some of the best known boiler room scamters out there, because they are appointed representatives of FCA authorised Equity for Growth (Securities) - Run by Tim Baldwin.
If you bung in £100k you can get "Exclusive hire of our new Draught beer truck (Hop wheels) that boasts an 8 tap line up. We will turn up an event of your choosing and pour pints for you and your friends."
Assuming you have any friends.|
|close the thread for ffs!|
No they do not have a licence and never will.
Judge for yourself how much progress GBG have made from their website
|are they drilling Tasmania yet and how is the GBG project going, clean tech or whatever|
|Hooray Tim spamming the board again. The worry that the chocolate Teapots at FCA might actually act to protect investors for once must be keeping him up at night.|
|my spreadbet in TXO finally deleted...what a waste of time that was|
|Initial response from FCA:
"When a consumer contacts us to report concerns, the information is recorded against the firm involved. The supervisory teams can then use this information to understand how the firm is treating their customers and if they're breaching any of our rules which can then be used to form guidance that can be issued to the firm or, if necessary, disciplinary action being taken against them.
I’ll be escalating the issues you've reported to us about The Right Crowd so this is available for our supervisory team to look into and investigate further if need be. Please note however, due to the Financial Services and Markets (FSMA) Act 2000, we’re unable to provide feedback as to what, if any, action will be taken as a result of the information provided to us as this could impact any potential investigation. Thank you for bringing this to our attention though."
Which sounds like the usual FCA fob off.
Hopefully my reply will get a bit more attention:
"Thank you for your response. Could you confirm whether or not an equity crowd funding firm can operate as an appointed representative of an FCA authorised company, as opposed to needing full authorisation in its own right as indicated by the references, and if so what checks need to be carried out either by the FCA or by the authorised company.
The Directors of "The Right Crowd" are:
Thomas Knifton, (son of Leo Knifton - a notorious boiler room scam artist and disqualified as a director.)
Thomas is named here:
Relating to carbon credit scams.
Thomas' Companies House entries are here:
The other director is Nigel Weller, who was / is Leo Knifton's right hand man.
His Companies House entries are here:
I find it hard to believe that had even the most basic checks been done that anyone, without an ulterior motive, would allow these 2 to run an equity crowdfunding firm. Another company is also an appointed representative of Equity for Growth (Securities) named "the Service Crowd":
I recommend FCA also look into whether or not they are suitable. The names Knifton and Weller jumped straight out at me when I looked at who was running the right crowd, but none of the names of those running service crowd are so infamous.
I will hold off on the feed back until I hear back from this e-mail.|
|As far as I can tell investment and loan crowdfunders must have full FCA authorisation in their own right:
Whilst there are several forms of crowdfunding, the FCA regulates two types of crowdfunding:
loan-based crowdfunding: this is where consumers lend money in return for interest payments and a repayment of capital over time. This is debt crowdfunding.
investment-based crowdfunding: consumers invest directly or indirectly in new or established businesses by buying investments such as shares or debentures. This is equity crowdfunding.
In order to do either of the above, you will need to be authorised by the FCA.
As mentioned above, investment-based crowdfunding already fell within the scope of FCA regulation prior to the introduction of the new rules in April 2014. The authorisations generally required for a platform provider operating the investment-based model are ’arranging deals in investments’ pursuant to article 25 RAO and holding client money pursuant to article 40 RAO and as referred to in the loan-based crowdfunding section above.
Those firms entering the market after 1 April 2014 are required to seek full FCA authorisation from the start.
So looking pretty bad for the right crowd and the FCA authorised company that appointed them. no wonder Tim is desperately spamming this board
"The Right Crowd Limited (FRN:685028) is an Appointed Representative of Equity for Growth (Securities) Limited (FRN:475953) who are authorised and regulated by the Financial Conduct Authority."
I will confirm all this with the FCA when they get back to me.
Whether the FCA actually bother to do anything about it is another matter.|