Keydata Crisis: Norwich MP demands meeting with FSA boss

Doesnt she realise who she is dealing with??

How dare she expect a meeting with Mr High and Mighty at the FSA.

I reckon that she wont get a meeting and this will all be swept under the carpet after her bosses have a quiet word with her!

I hope I am wrong though.

Also the role of Norwich & Peterborough Building Society in pushing this most unsuitable of investments onto a lot of its less financially astute customers needs investigating.

Looks like a new MP trying to make a name for herself bashing the FSA. She'd better join the queue.

If she can do something to help then she should get on and do it - otherwise shut up.

Go you good thing!

Good luck with this mission, Chloe, and don't forget to ask Hector to explain why the FSA blundered into Luxembourg and had the CSSF shut down Lifemark SA without having any idea what effect this would have on 23,000 UK investors.

This cack-handed intervention is having catastrophic consequences for UK investors and the FSA must be held to account for its rank incompetence. It is the FSA, not the FSCS, that should compensate investors for their losses.

Sadly I expect the FSA are far more powerful and unaswerable than a young junior Whip, but good on her for trying.

Lets hope it is a David and Goliath battle.

She does look rather young and inexperienced to take on old Hector but you never know, maybe she will be told the truth and not the blarney that he usually dishes out. You are dead right Arlo, the FSA are, to say the least, "cackhanded" but we all know that. The question is, when will the real powers that be realise it and turn them into a distant bad memory?

As strategic adviser to Mr Stewart Ford I have written to MP Chloe Smith and provided her with the whole story regarding the FSA's lamentable behaviour in the Keydata Affair.

Ms Smith has asked:-

1. What the FSA knew and when?

2. What the FSA has done to date and,

3 Where any gaps may exist for the better protection of consumers in this case or other such cases.

To these questions I reply:

1. The FSA knew that there was a prospective solution

2. It could have sanctioned it but refused to do so

3. The gap in the current system is that the FSA can act unilaterally with giving affected consumers any chance to consider alternative options.

Jack Irvine

Executive Chairman

Media House International

It is good that somebody in power is taking initiative on this and I hope that this does not get extinguished or watered down, whether or not Norwich & Peterborugh were irresponsible in thier reccomendations, the FSA should have acted quicker and it a measures way in the interest of the consumers as per thier mandate to 'increase confidence in the industry' perhaps we, through Citywire, could form a petition of support Chloe Smith demonstrating that we all want the same answers?

Very best of luck Chloe, but I do think you will run into a brick wall at Canary Wharf.

A more fundamental question is :

'What exactly qualifies Mr Sants and the other Board Directors to occupy the loft and extremely responsibile positions they do ?'

All we see is sheer incompetence, over and over again. If the senior FSA personnel actually knew what they were doing then crises such as Keydata would either be diluted or not happen at all !!

All good and well maybe the question should be asked about the rip off by Key Data regards Technology deals and who has the money?

The Victims site has been off the air since Saturday. I do hope threats of libel proceedings made on Friday mean the victims have not left the victims helpless.