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    • Former billionaire Hui Ka Yan has been fined and banned from the financial market for life.View the full article
    • In terms of "why didn't I make a claim" - well, that has to be understood in the context of the long-standing legal battle and all its permuations with the shark. In essence there was a repo and probable fire sale of the leasehold property - which would have led to me initiating the complaint/ claim v SPF in summer 19. But there was no quick sale. And battle commenced and it ain't done yet 5y later. A potential sale morphed into trying to do a debt deal and then into a full blown battle heading to trial - based on the shark deliberately racking up costs just so the ceo can keep the property for himself.  Along the way they have launched claims in 4 different counties -v- me - trying to get a backdoor B. (Haven't yet succeeded) Simultaneously I got dragged into a contentious forfeiture claim and then into a lease extension debacle - both of which lasted 3y. (I have an association with the freeholders and handled all that legal stuff too) I had some (friend paid for) legal support to begin with.  But mostly I have handled every thing alone.  The sheer weight of all the different cases has been pretty overwhelming. And tedious.  I'm battling an aggressive financial shark that has investors giving them 00s of millions. They've employed teams of expensive lawyers and barristers. And also got juniors doing the boring menial tasks. And, of course, in text book style they've delayed issues on purpose and then sent 000's of docs to read at the 11th hour. Which I not only boringly did read,  but also simultaneously filed for ease of reference later - which has come in very handy in speeding up collating legal bundles and being able to find evidence quickly.  It's also how I found out the damning stuff I could use -v- them.  Bottom line - I haven't really had a moment to breath for 5y. I've had to write a statement recently. And asked a clinic for advice. One of the volunteers asked how I got into this situation.  Which prompted me to say it all started when I got bad advice from a broker. Which kick-started me in to thinking I really should look into making some kind of formal complaint -v- the broker.  Which is where I am now.  Extenuating circumstances as to why I'm complaining so late.  But hopefully still in time ??  
    • At a key lecture in the City of London, the shadow chancellor will also vow to reform the Treasury.View the full article
    • Despite controversy China's Temu is becoming a global online shopping force.View the full article
    • The retailer has come under fire for an advert showing motorcyclists wearing trainers and doing wheelies.View the full article
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      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

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    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

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      This is good ethical practice.

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      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
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PPI Success??????????


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HiGuys,

Ihave had a PPI claim in with John Lewis Financial services, who provided mewith a mastercard from 2004 to 2010.

I have todayreceived a response headed "WITHOUT PREJUDICE SAVE AS TO COSTS"

It goes on to say,

"Unfortunately,we can confirm we are unable to uphold your complaint.

Notwithstandingthe above, and without prejudice, a business decision has been made to refundall remaining PPI premiums, Please note that as we are only obligated to retainrecords for a maximum of 6 years, the refund is based on the premiums we haverecord of."

It also refers tothe refund as a goodwill payment and provided the breakdown of the refundbelow, which makes little sense.

Manually enteredpremiums £63.95

Pre-statementperiod estimated premiums £0

Total PPI premiums£63.95

Interest chargedto card(non-taxable) £6.95

Allcredit interest(taxable) £37.94

TOTAL£108.84

Ithought a financial organisation must retain records of your account for aminimum of 6 years after the account had been closed. Is this the case?

Itappears that they are unwilling to commit to upholding my complaint but aretrying to fob me off with an estimated premium as a goodwill gesture as theyhave failed to retain my records. I believe that over the 6 years the accountwas active there would have been a rather more substantial amount of premiumspaid on the account as the account was maxed out for the first 3 years.

Also,should there not be compound interest added to the refund they have offered?

Anyideas on where I should go from here?

Thanksin advance guys.

VICTORIES:-D

QuickQuid £1004 RBS £1500 Mastercard £300 Clydesdale bank £3450 Wonga £2000 Elephant.co.uk £200 Shop Direct Finance £570

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No have not sent a SAR request yet, thought Id just inquier about the PPI first.

 

I will send of a SAR first thing tomorrow and get all the info.

 

Am i right in sayin that a financial institute should retain a customers financial records for a minimum of 6 years after the closure of an account?

VICTORIES:-D

QuickQuid £1004 RBS £1500 Mastercard £300 Clydesdale bank £3450 Wonga £2000 Elephant.co.uk £200 Shop Direct Finance £570

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I believe it's 5 years from the closure of an account for money laundering regulations, particularly for loans.

 

As to the actual record keeping, the FSA recommended advice is at least 6 years of active data. A lot of companies use the 6 year guideline to avoid sending further details. 3 particular companies that I've dealt with, MBNA, Barclaycard and RBS have all stated they hold limited records older than 6 years, however I've had data going back to 1988 with RBS, 1995 with MBNA and 1998 with Barclaycard (more expected from them).

 

A lot of financial organisations will play the 6 year card as it limits what they have to work out and refund to you.

 

Send a SAR as recommended above, they may or may not send records older than 6 years, but you can always ask them to search for older records (and complain to ICO if they don't fulfil your request).

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dazza has it right.

 

They will hide behind their interpretation of the six year rule.

 

We know for a fact that these companies have information, statements etc going back far more than six years but they may have to be threatened to get hold of it.

 

Personally I got a full transaction history out of HFC going back to 1989/90 but there are more stories on CAG where lenders have mysteriously found old data after they have been threatened with court action under the Data Protection Act.

 

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