Derbyshire

  • peter and louise
  • 18/10/08 01/09/09
  • a depositor
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Posted: Tue, 14/07/2009 - 15:05

Our MP Edward Leigh has just written to us (again) advising us to again contact FSA for not having warned us sufficiently...(sic) of the regulatory implications for the transfer of our funds from the Derbyshire to KSFIOM. Sympathetic letter. States he has passed a copy of my earlier letter on to Treasury Minister Ian Pearson MP. So, we have written again to FSA for their immediate intervention for the restoral of our funds.

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The treasury made their

  • nivit
  • 19/10/08 31/05/09
  • a depositor
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  • Thu, 16/07/2009 - 18:39

The treasury made their attitude clear back in December; http://chat.ksfiomdepositors.org/sites/chat.ksfiomdepositors.org/files/F...


FSA vs FSC

  • investor01
  • 13/10/08 n/a (free)
  • a depositor
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  • Tue, 14/07/2009 - 18:28

This affects me as well as my money started off in The Derbyshire. One thing I'm not quite clear on though is the relationship between Derbyshire UK as a business entity and Derbyshire IOM at the point where the takeover was approved. When The Derbyshire was taken over by KSF, the FSA would obviously have looked at this in the UK (not very well as it turns out). In terms of The Derbyshire IOM, would it not have been the FSC who decided whether the takeover should go ahead or was it a foregone conclusion once the FSA had said 'yes'?

I'm playing devil's advocate here as I suspect the FSA will simply say 'please address your letter to the FSC'.


Derbyshire

  • peter and louise
  • 18/10/08 01/09/09
  • a depositor
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  • Tue, 14/07/2009 - 18:52

Good point 01: Did the FSA say 'Yes' to Derbyshire IOM being taken over by Kaupthing and then the FSC poing along with it and saying 'Fair enough, if it's good enough for you it's good enough for us.' How would one find out about that? Would a straight forward question to FSA get an honest answer?


derbyshire

  • brokefirefly
  • 12/10/08 31/05/09
  • a depositor
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  • Tue, 14/07/2009 - 19:01

My guess is that the FSA would have said that the whole thing was outwith their jurisdiction. I wrote to the FSC way back, and got the reply that, the Parental Guarantee from Kaupthing "in theory" posed no more risk than the one from the Derbyshire. Now I can think of many reasons why this would not have been so, but that was(is?) their position.


derbyshire

  • steve
  • 14/10/08 31/05/09
  • unspecified
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  • Wed, 15/07/2009 - 12:15

It is a while since there has been any discussion about the Derbyshire on this site. I am afraid all my efforts so far have come to nothing and believe me I have tried. I have bombarded the Derbyshire CEO, the FSA, my MP, various other MPs who showed some sort of interest in the Derbyshire and have recently been given the final brush-off by the Financial Ombudsman (not in my jurisdiction, go the IOM) who was a complete waste of time. It seems our Government and all its quangos will not get involved in this because it is too big for them to take on. Like everything else, they only go for the soft targets. That's us in case you hadn't cottoned on. All I can suggest is keep on pestering your MP the FSA and the Derbyshire. Bore these people into submission!