The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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you 2 are sly scum of the earth bottom feeders, go crawl back under whatever hole it is you came from
the vote does not matter now - its already got a majority approval - the FCA are saying that the deal favour the company and is a deal that has been presented by the company without proper consultation. this means its going to court where the court will be obliged to listen to the FCA over the desires of a company.
Take away the fact that you want it to go up and take a step back.
Anyhow you will see how this end up today - it will break the low of the day come the afternoon as the only reason it had a bounce was day traders took it for a trade, they won't be hanging around - why would they.
The FCA could also inform the judge that should the scheme of arrangement be agreed, it is prepared to continue as its supervisory watchdog.
https://www.theguardian.com/money/2021/mar/18/block-amigo-scheme-to-cap-compensation-for-customers-fca-urged
The Guardian understands the FCA is preparing to tell the court it has reservations about the scheme, but it is unclear whether the regulator will make a submission to the court suggesting the deal be scrapped.
The FCA could also inform the judge that should the scheme of arrangement be agreed, it is prepared to continue as its supervisory watchdog.
It has stressed that its powers are limited and that it cannot unilaterally block the scheme as it heads to court. It could, however, make a public declaration condemning the scheme, or provide more detailed information to customers about their options.
Mick McAteer, a former FCA board member who now runs the Financial Inclusion Centre, said the FCA “needs to remember it is there to fight to protect consumers – especially vulnerable consumers like this”.
Jennison said the scheme was “absolutely” fair for borrowers. “We need to understand there is not a bottomless cash cow here,” he said
The result of the combined creditors' vote will be announced as soon after the meeting on the 12 May as practicable.
Wonder if creditors will resolve issues with FCA by next RNS ?
Exaclty! I think they are just trying to distance themselves from the scheme as they got a bit of grief for letting it go through.
They will probs hold our feet to the fire over relending
18th of March that article
“the FCA has already said it is not proposing to take any additional regulatory action that might stope the scheme were it to be agreed by the creditors and sanctioned by the court.”
That is the green light basically
Sorry - correct article is here amigos! https://www.theguardian.com/money/2021/mar/18/block-amigo-scheme-to-cap-compensation-for-customers-fca-urged
The Guardian understands the FCA is preparing to tell the court it has reservations about the scheme, but it is unclear whether the regulator will make a submission to the court suggesting the deal be scrapped.
The FCA could also inform the judge that should the scheme of arrangement be agreed, it is prepared to continue as its supervisory watchdog.
It has stressed that its powers are limited and that it cannot unilaterally block the scheme as it heads to court. It could, however, make a public declaration condemning the scheme, or provide more detailed information to customers about their options.
Mick McAteer, a former FCA board member who now runs the Financial Inclusion Centre, said the FCA “needs to remember it is there to fight to protect consumers – especially vulnerable consumers like this”.
Jennison said the scheme was “absolutely” fair for borrowers. “We need to understand there is not a bottomless cash cow here,” he said.