Member Info for RazorShultz

Completely agree slowburner!

I prefer LGEN to aviva personally

Sorry maroonbells I also misunderstood your post. I was very tempted to write some kind of snarky reply but thought to myself he might be making a joke!

I very much hope so pdub. A big announcement to make for some good things to discuss during their interview would certainly be prudent

If there was fault in their risk controls and checks etc, they will implement improvements and the shares will be unsuspended and the company will be in a better position for it. Hoping for some clarity on the issue this week. Fwiw I also work at a large financial institution. Unless something shady has been going on underneath the surface, which I do not believe at all, I cannot see how this is anything but a temporary issue.

It should do yes, most financial institutions do. It may be that the auditors found some controls and checks in their processes need tightening up.

The price is good too. I wonder where we will see the share price when all these new deals amount to revenue falling straight through to profit due to our fixed cost base with the online platform. That'll be great to see those numbers booked in

He's been posting nothing but rubbish for a while, next time he'll be going in the green filter bin along with the rest of them. As for the rest of the long term holders, there have been some great contributions with info and articles lately, keep it up

Snot and Floyd very good work, everyone should be emailing their MPs about these!

https://www.thisismoney.co.uk/money/saving/article-9605327/Best-buy-savings-bank-PCF-suspends-share-trading-chief-exec-resigns.html

"The news came two days after it told the markets 'trading in the group's shares has been temporarily suspended while the group undertakes a further review in relation to its financial controls and reporting processes'.

The bank told This is Money in a statement: 'PCF Bank will provide an update to the market in due course. There is no change to day-to-day business, and PCF Bank continues to operate as usual with clients, brokers and customers.'

It has frequently featured in and topped best buy tables since it opened its doors to everyday savers four year's ago. Prior to today's news it sat in second place in the one-year tables, paying 0.79 per cent on £1,000 or more."

I don't respect shorters at all

Nice post mcadder, this should all help us in the long run. It adds strength to our case for why these projects are important

And resigning will not save him for any regulatory consequences, in financial services you are personally responsible for things. So I should imagine he disagrees with them, or is unsatisfied at whatever findings they've made and wanted to look into.

Who knows? The fact the FCA are looking into them must mean questions are being asked about their risk controls etc, which is what was indicated in the initial RNS. If anything is found to be at fault the company may be fined.

The fear with crypto was that china were coming in hard with regulations - one of the biggest cryptoexchanges used by europeans is Binance which is headed by a guy called Chang Zhang, or CZ as people refer to him. The entire crypto market took a swan dive but some of the coins have been recovering.

He must have been immensely proud of seeing this company through to becoming a licensed bank, I too would be shocked to see its shares suspended. With 26 years of service he has probably earned a retirement at least. Thankfully, this company has been solid so I am not too worried. There are other companies out there that I would be very concerned if their talented CEO had resigned after carrying the company on his back. But I believe PCF is a solid business so I do not think we will be too harmed by the departure.

We will simply have to wait and see what the issue is. If it's relating to their financial controls I suspect it may be due to AML checks and customer due diligence, maybe about the know your customer or treating customers fairly principles. It is quite hard to lie about liquidity ratios and I don't think they would have arranged any creative accounting so let's see what the issue is.

Nigel can you give a quick summary? cheers

Killik picking up a few more. The markets have been down recently, cryptocurrencies took an absolute plunge this week too.

As long as they weren't audited by KPMG we should be fine

Could this be a change of reporting periods? If the company's liquidity ratios etc are still fine and business is still good I am not overly concerned. I don't think this company will do a Carillion and suddenly go bust after reporting supposedly fine accounts.