Waiver Update

[EXC]

Iv'e been informed by the FSA that the 2 month complaints handling waiver review that we all expected to take place now, will in fact not
commence until 4 October and is not expected to be finished until the end of October. They will publish an overview of the review
sometime in November.

On a brighter note I had a very meaningful conversation with the OFT today who are considering issuing a statement to clarify that the FSA's waiver does not apply to cases of financial hardship or credit cards which could be used to support claims. The OFT seem to be very sympathetic on this issue.

The OFT have now been served the banks defences and counterclaim and are awaiting legal advice before they can post them on their site.

[Tools]

Re: Waiver Update

Thank You EXC

Please let us know when you have the Defences , should make an interesting read

[EXC]

Re: Waiver Update

Having been on the phone all morning to the FSA regarding the date and outcome of the 2 month waiver review the situation appears to be thus:

The 2 month review is actually an ongoing review that began 2 months into the waiver.

They do not intend to publish, at any point, updates on the review ''unless a particular bank has its waiver withdrawn''.

Although they were less than forthcoming, they did tell me that up until this point ''no news is good news'' meaning that so far the review had not found any justification to withdraw or modify the waiver. I'm still working on getting more clarification.

[iancognito]

Re: Waiver Update

On a brighter note I had a very meaningful conversation with the OFT today who are considering issuing a statement to clarify that the FSA's waiver does not apply to cases of financial hardship or credit cards which could be used to support claims. The OFT seem to be very sympathetic on this issue.

Don't suppose we've heard any more on this?

[EXC]

Re: Waiver Update

No but it's not surprising. The OFT are a bit like Vatican as described by the BBC news 24 reporter in their trailer: ''They work in years, not days''.

[EXC]

Re: Waiver Update

It now seems clear that the 2 month waiver review is just what it said on the tin and not open-ended. It also seems pretty clear they will announce the conclusion of the review regardless of the outcome.



Dear EXC

I am replying to your recent emails and telephone contact with a number of areas/individuals within the Financial Services Authority (FSA) and hope that the following will clarify a number of issues.

You have asked for an indication of a date when the waiver review is due for publication. I believe that this query has, in fact, been dealt with in your telephone conversation with Jonathon Bromberger of the FSA waivers team on 13 November. To confirm that conversation, Mr Bromberger advised that the 2 month waiver review was drawing to a close. However, he could not pre-empt this exercise prior to any public announcements nor speculate when those announcements might be.

Part of your email of 9 November requests "copy of the FSA's letter of 26 July to The Master of Roles recommending that claims be stayed". This aspect of your enquiry has been passed to the Information Access Team (IAT) to deal with as a Right to Know request under the Freedom of Information Act (FOIA).

I appreciate that you have a number of outstanding matters with the FSA; these being a complaint with our Company Secretariat Office and also (now) two requests under FOIA with the IAT, and those areas will communicate directly with you. As I understand it, you have also requested to meet personally with a number of individuals (for example Simon Begley of our Consumer Sector and Communications) to discuss the waiver. However, because of the level of interest in the general issue of bank charges, and the FSA's waiver, I can confirm what David Kenmir's personal assistant told you recently, that such a meeting is not currently possible.

Having previously dealt with the FSA Consumer Helpline (0845 606 1234) you are, I believe, aware that its role is to deal with general consumer telephone enquiries. You have also dealt with the Consumer Contact Centre (CCC) which acts as point of contact for general written enquiries from consumers and other persons who are not firms regulated by the FSA.

As the interface between correspondents and the wider FSA it is the role of the CCC to receive enquiries, liaise as necessary internally and respond. I am aware that your enquiries are specific rather than general but we are happy to liaise with our colleagues in order to reply. Therefore, going forward, and to maintain a clear line of communication, we ask that all further enquiries be directed in writing to consumerhelp@fsa.gov.uk .

Yours sincerely

K Cully (Miss)
Operations Supervisor
Regulatory Services Business Unit
Financial Services Authority

[EXC]

Re: Waiver Update

Original Message -----
From: EXC
To: CCC Consumer Enquiries Financial Services Authority
Sent: Friday, November 16, 2007 8:19 PM
Subject: Re: Contact with the FSA


Dear Miss Cully


Thank you for your e-mail


Firstly I need to make a correction to your account of my telephone conversation with Mr Brombreger.


Mr Bromberger was less than forthcoming with the information you claim he provided me and in fact he referred me to Andrea Kinnear of the FSA press office whom, he said, would be able to update me on the status of the 2 month waiver review. But over the course of the next 3 days, Ms Kinnear refused to answer any of my e-mails or numerous phone calls even though she was in her office on every occasion.


My original enquiry did indeed begin at the CCC and then the FSA consumer helpline and on both occasions I was advised that the 2 month waiver review was in fact an on-going review and that no announcement would be made in consideration of the review except in the event of the waiver being withdrawn from a bank.

But in a subsequent conversation with Robert Skinner, Chief Executive of the Banking Code Standards Board, Mr Skinner describe this advice as ''nonsense''.


This is by no means the first time I have been given completely inaccurate information by both the CCC and the FSA consumer helpline and this is precisely the subject of my complaint referred to in your e-mail. Both these departments are wholly inadequate as a source of information as on every occasion I have used them the information provided is either wildly inaccurate or simply untrue. The staff are ill-informed, inept and can often
barely string a sentence together.


Therefore any future enquires I make to FSA will be made directly to the relevant department, by a method of my choosing and as I see fit.


Regards


EXC

[Tempty]

Re: Waiver Update

LOL

well that gave me a giggle....... you tell em!!
I really do admire you for your constant efforts regarding this.
keep up the good work xx

Tempty

[EXC]

Re: Waiver Update

LOL

well that gave me a giggle....... you tell em!!
I really do admire you for your constant efforts regarding this.
keep up the good work xx

Tempty

That's very kind of you Tempty - thanks.

But I wouldn't do it unless I enjoyed it. I never pass up the oportunity
to slate a useless regulator!