IMPORTANT AND URGENT - Give us your support for the Early Day Motion before Parliament by writing to your MP's.

Hello ALL DAG members from the start of the collapse of KSFIOM!

Over the course of two years, we, the depositors in KSFIOM, have been on a rollercoaster ride of emotions, actions and watched blame shifting from Iceland, the UK and the Isle of Man. I am not here to fathom the apportionment of blame -just to ask for ALL DAG members, both those who have already been paid back their full deposits, either through the Early Payment Schemes (EPS 1 and 2) and/or the Direct Compensation Scheme and those still seeking the return of their deposits, to unite together and support an Early Day Motion, that was set before the UK Parliament, on the 15.12.2009, by Mr Bob Russell M.P:

http://edmi.parliament.uk/EDMi/EDMDetails.aspx?EDMID=40046&SESSION=903

Early Day Motion
EDM 474 KAUPTHING SINGER & FRIEDLANDER ISLE OF MAN DEPOSITORS AND BONDHOLDERS15.12.2009

Russell, Bob
That this House recognises the decision by the Financial Services Authority (FSA) to revoke Kaupthing Singer & Friedlander UK's (KSF UK) deposit-taking licence led to the ultimate collapse of Kaupthing Singer & Friedlander Isle of Man (KSFIOM); notes that the decision taken by KSFIOM's directors to transfer over 50 per cent. of assets to KSF UK, which was approved by the Financial Supervision Commission following extensive consultation with the FSA, contravenes both UK and European banking practice; further recognises that some 3,000 KSFIOM depositors with savings above the £50,000 compensation threshold, many of whom are British pensioners, are yet to be fully recompensed; further notes that British offshore depositors remit tax to the UK via income declaration or withholding tax and are therefore deserving of action by the Government; asks the Government to intervene directly and calls on the Isle of Man authorities to ensure all depositors receive full compensation, in line with UK depositors; further calls on the 10 life companies that mis-sold over 1,000 bondholders in KSFIOM, a product offering capital security, low risk and regular income potential, to re-evaluate their businesses and marketing practices and recompense policyholders accordingly; and requests that the Ministry of Justice further investigates whether the Isle of Man has the necessary skills, experience or processes in place to ensure effective self-regulation, as well as the conflicts of interest of those holding positions in the Isle of Man's political, judicial, regulatory bodies and financial services industry.

This initiative has the support of DAG and DST members. What we essentially need, now, is the support of many MP's on our behalf. This involves us all in writing to our MP, either the last one you had whilst living in the UK or any M.P., with which you have some contact or feel should be involved. I have added, to my letters, that this is not a matter of action, just because of supporting an affected consitituent but a matter of principle in supporting a British citizen. However, this EDM will not be affective and will not raise our cause if we do not mass mail our MP's. This is no longer a case of the few DAG or DST members doing the work for the majority. This is where ALL of you will make a difference. I remember, the cry, of DAG members, back in the early days of KSFIOM's collapse, on the DAG website, of despite whatever size your deposits lost, was "all for one and one for all"! I would like to draw on those sentiments from all members even more so now as well as then. Even if you have had your money returned, could you please spare thoughts for those left waiting and waiting to see hard earned deposits returned. As it is they will only be partially returned unless we can lead a real charge at the British parliament, with rallying support for this EDM. I would like to feel I can rely on the past comraderie of ALL DAG members, whether repaid or not, to step forward and assist justice in being done to 100% of those who were affected by the collapse of KSFIOM on that fateful October day, in 2008. This is why this blog entry has been emailed to all DAG members. I don’t mean to drag up unhappy memories, for members but the worry and anguish is still ongoing for many. I know some members, who have already been repaid have kept in touch with the websites. I just ask that you just send the template letters ( see below) to your MP’s to show solidarity within the DAG/DST group. After all we started this search for justice together and it would be great to try and end it with a unified effort.

In order to achieve this a first template letter is supplied, for your use, to either post/fax or email to your MP. Just fill in your personal details. Add a personal note if you like at the end. See:

http://www.ksfiomdag.com/index.php?option=com_kb&task=file&file=175&Item...

A second, follow up letter has also been supplied, which you might like to send, if replies, from your M.P., are tardy. This was a reminder that we are still here after their Christmas recess! See:

http://www.ksfiomdag.com/index.php?option=com_kb&task=file&file=184&Item...

A third letter will follow but will post later.

I do hope you will act on this request and play your part in trying to get our original objective – a return of 100% of our deposits for ALL members of the ex-KSFIOM bank.

If you have any difficulty opening this letter, please contact me or place a comment on the websites. If you do (and I hope you will) write a letter to an M.P., a posting would be useful to keep an eye on who has been contacted. Any replies, from any M.P., would also be useful if posted on either of the websites. I would like to thank everyone who has already sent in their letters and in advance, to thank any DAG members, including those who have already been repaid, taking the effort to come to the assistance of those members still awaiting their deposits.