Mayflower Share Discussion Threads

[jakass] 24/7/2004 22:15

You continually refuse to answer the question asked of you, jaknife - your
refusal can only be taken as an admission of guilt.
Personally abusing soysoy, who has done an exceptional amount of work on this thread - only goes to confirm the sort of despicable person you are.
I would also add that soysoy is a personal friend of mine - and any attack on him is an affront to me personally. I am sure that many other people on this thread feel the same way.

[soysoy] 24/7/2004 09:56

JAKNIFE WHEN YOU HAVE EXPLAINED YOUR SELF ON THE OTHER THREAD
I WILL EXPLIAN MYSELF TO YOU AND ONLY THEN

[jakass] 23/7/2004 20:43

Jaknife - the trouble with you is that you have a narrow, distorted view of things - the programme was of no interest to you as it carried a number of world news items not suitable for the obsessive person.
If you do not have anything of interest to say
(If you had, it would be a first!)Please leave. It is impossible to explain to some one with your outlook on life that posts can be be about general interest and not just the topic of the thread.
I presume there is some other BB waiting with bated breath for your next utterance. LOL.

[soysoy] 23/7/2004 20:24

jaknife take a fork with you and go off to a better world

[jakass] 23/7/2004 20:12

Jaknife - do us all a favour and remove your unpleasant personality from this thread. I watched Newsnight and found it thoroughly interesting. Why you persist with your ludicrous posts is a matter for you and your god.
Please do not intrude here, but find a medium more suited to your depressive and offensive persona.

[soysoy] 23/7/2004 20:05

Yes for the next episode of jaknife go to the room srevice action group thread
Not many have kind word for you on there jaknife

[soysoy] 22/7/2004 22:46

you will see jaknife the

[shirishg] 22/7/2004 22:34

Post removed by ADVFN

[soysoy] 22/7/2004 22:13

newsnight could be interesting

[soysoy] 21/7/2004 21:30

WEAKEND LOOKS SUNNY

[soysoy] 19/7/2004 20:37

New probe into Equitable crisis
19 July 2004, This Is Money

FURTHER inquiry into the regulation of troubled mutual* Equitable Life was announced this afternoon by the Parliamentary Ombudsman.


• Is the Financial Services Authority an effective watchdog? Vote now
• Equitable leans on ombudsman
• Angry army suing Equitable Life
• Call for new Equitable Life probe
• Deadline looms for Equitable investors
•


Ann Abraham said she would carry out a statutory investigation into the actions of the Government departments responsible for regulating the society before December 2, 2001.

She has also called for her jurisdiction to be extended to include the Government Actuaries Department.

The move is good news for Equitable policyholders, as Ms Abraham could recommend Government redress if she finds evidence of maladministration by one of the society's regulators.

This now represents policyholders best chance of getting compensation, after the society decided not to pursue the Government for compensation itself.

Announcing her decision in a special report laid before Parliament Ms Abraham said: 'The concerns surrounding the prudential regulation of Equitable Life remain despite the publication of the Penrose Report and the Government's response to it.

'I took the view that I should consider whether a new investigation by my office was justified as Lord Penrose did not deal with questions of maladministration or redress.'

She said she had conducted a consultation exercise, getting views from 2,000 policyholders, MPs, the regulators and Equitable Life itself, before deciding to launch a new investigation.

Ms Abraham said she was asking for the Government Actuary*'s Department to be brought into her jurisdiction so she could assess its role in the regulation of Equitable.

She said: 'I consider that there is sufficient initial evidence to suggest that the actions of GAD are key to an assessment of whether maladministration by the prudential regulators caused an injustice to complainants that has not been put right.'

She added that she would cover the actions of the Government departments responsible for the prudential regulation of Equitable, such as its solvency, but would not look at the management of the society itself or allegations of mis-selling*.

Ms Abraham said she would carry out her investigation 'as speedily as possible'.

She has already investigated the regulation of Equitable by the Financial Services Authority* between January 1, 1999 and December 8, 2001 but found no evidence of maladministration.

However, she has come under increasing pressure to reopen her inquiry, going further back to look at the role played by the Treasury and Department of Trade and Industry when they regulated the society, and the Government Actuary's Department.

Equitable was plunged into difficulties after losing a House of Lords ruling over the rights of its guaranteed annuity* rate policyholders, leaving it with a £1.5bn liability and forcing it to close to new business and slash the value of members' policies.

However, an inquiry into what went wrong at the mutual, carried out by Scottish judge Lord Penrose, concluded that while the regulatory system had failed policyholders, the society was the 'author of its own misfortunes'.

How the inquiries have unfolded

• December, 2000 The Financial Services Authority announces that its director of internal audit, Ronnie Baird, will look at the FSA's regulation of Equitable between January 1, 1999 and December 8, 2000, when it closed to new business.

• October 2001: The Parliamentary Ombudsman Michael Buckley announces he will investigate whether there was maladministration by the FSA in its regulation of Equitable between January 1, 1999 and December 8, 2000, and whether policyholders suffered 'injustice' as a result.

• August 2001: The Government announces the launch of the Penrose Report, an independent inquiry into events leading up to the current situation at Equitable, going back to the 1950s, to be carried out by Scottish Judge Lord Penrose.

• October 2001: The Baird Report into the FSA's handling of Equitable concludes there was nothing the regulator could have done to prevent the problems at the society when it took over as regulator in January 1999, although it said there were areas where the FSA could have done better.

• June 2003: The investigation by the Parliamentary Ombudsman, now Ann Abraham, finds no evidence that the FSA failed in its regulatory responsibilities between January 1999 and December 2000, and rejects calls for Government compensation for policyholders.

• March 2004: The Penrose Report is published. Lord Penrose concludes that while the regulatory system had failed policyholders, the society was the 'author of its own misfortunes', with its problems stemming from the over-allocation of assets in its with-profits* fund as bonuses in a bid to attract new business

[soysoy] 19/7/2004 20:25

Most of the time, our dealings with banks, building societies and financial organisations run smoothly.

But problems such as mistakes, over-charging, bad advice and poor service are all likely to be legitimate areas for complaints. The key exception to this is investment performance. An investment may not grow as fast as you had hoped or may fail to meet your target. But because investments grow at unpredictable rates, and may fall as well as rise in value, this should be discussed before you buy the product and your expectations should be taken into account.

It is very important that you address any problems with your finances straight away because if you do not, they are likely only to get worse. You could end up losing money. Research shows nearly one in four of us feel we have been badly treated by a financial institution, but we often do not know how to complain, and frequently give up too easily.

If you do have cause for complaint, here's what you can do:




Step one: Clearly set out your objectives

Be clear about what the problem is and decide what you want to achieve; clarification of a situation, an apology, redress, compensation, or a combination of all these.




Step two: Address your complaint directly with the company concerned

If you cannot resolve your concerns through discussion, write a letter to the company which gave you the advice or sold you the product:

* Write 'COMPLAINT' at the top of the letter
* Find out the name of the person you are writing to - financial firms are required to give you the name or job title of the person who will handle your complaint. It should have a proper complaints procedure and tell you how to use it.
* If possible, send a typed letter or one which is carefully handwritten and clear.
* Include any reference numbers for accounts.
* Set out the facts in order and avoid repetition or too much detail.
* Be firm but polite.
* Send copies of relevant documents, such as statements, but never send the originals.
* Keep copies of any letters you send.
* If you discuss a complaint on the telephone, keep a note of the date, the name of the person you spoke to and the key points discussed. Ask for confirmation of the discussion in writing.
* Set a realistic date by which you would like a response - most financial firms are required to resolve complaints within three months.




Step three: If still not satisfied, take your complaint further

If you are not happy with the outcome, you can take your complaint to the relevant independent complaints' scheme or ombudsman. Details are available from the Financial Services Authority - www.fsa.gov.uk. The role of the ombudsman is to be impartial and investigate a dispute between you and a financial firm. He or she will try to help you reach an agreement. If this fails, they have the power to make a decision which, in most cases, the firm must accept. As the customer, you can choose whether to accept the decision or take the case to court. Generally, an ombudsman can consider all aspects of the case and reach a decision based on what seems reasonable and fair, not just on the strictly legal position. The ombudsman process is completely free to the customer.

[soysoy] 18/7/2004 12:02

OK EVERTHING IS LOOKING GOOD
HAVEING PROBLEMS WITH BROAD BAND SO CANT SEND NEWSLETTER OUT BUT
EVERTHING WILL BE COMING OUT SOON ON NEWSPAPER ,RADIO,AND TV
I HAVE BEEN GETTING FED UP OF DOING FSA AND DTI JOB.
THEY WILL HAVE TO PULL THERE FINGER SOON
SPEAK AGAIN WHEN THEY SORT OUT MY BROADBAND CONNECTION
GOING TO WATCH
COLUMBO

[anomalous] 16/7/2004 22:21

To All Mayflower Shareholders:

We are in countdown now. The truth will be out very soon............
Keep reading the big pink paper.......
No .. No Comment!

[gorget] 16/7/2004 22:03

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[soysoy] 15/7/2004 17:28

The Mayflower investigation is the first inquiry by the AIDB, set up in May as part of a new independent regulator for the accounting profession to deal with allegations of misconduct against accountants.
The group, which said the investigation will likely take "several months", can seek to impose unlimited fines on firms or individuals, or have them expelled from professions' representative bodies.