ROLES OF FSC & FSA IN TRANSFER OF FUNDS

  • banna
  • 15/10/08 01/03/10
  • a depositor
  • Offline
Posted: Sun, 25/01/2009 - 11:09

As far as I know we are still not clear what roles the FSC and FSA played in the transfer of funds from IOM to UK. FSC has said earlier that discussions took place but gave no details. FSA Chairman at the TSC hearing evaded the question.
I wrote to FSA Chairman on November 6th just after the TSC hearing asking him to be more explicit. I received two 'holding' letters dated 18 Dec and 15 Jan but no answers to my question.
Infuriated, I wrote on 17 Jan formally asking for a reply under the Freedom of Information Act - asking for information on all spoken and written communications between the 2 bodies concerning KSFIOM between 1 Jan 2008 and 9 Oct 2008.
I got the following reply dated 23 jan
" Thank you for your request for information under the Freedom of Information Act 2000 (the Act).
Your request was received on 21 January 2009 and will be processed in accordance with the Act.
There may be a fee payable for the information you have requested. If that is the case, you will be informed of the likely charges before we proceed. The fee must be paid before the information is released.
Sandra Collins
Information Access Team "

Do I tell them to take the charge from my IOM account?

I will update this info when I receive a reply.
My view is that if we have to consider who to attack if we do not get 100% of our deposits back these 2 seem prime targets, so we need to know their roles before considering any action.
Depending on the info we get from FSA we might need to consider similar request to FSC under the same legislation - but I do not know whether it applies in IOM.

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