@peter_IFAMAG reads Twitter so you don’t have to.
The £67bn Universities Superannuation Scheme sees deficit grow an estimated £14.4bn in the last two years. Meanwhile, the BBC reports the National Crime Agency failed to act on alleged bank signatures forgery and fabricated evidence, allegations involving Northern Rock, Bradford & Bingley, Mortgage Express, also Lloyds Banking Group.
Andy Verity reports for the BBC today that the National Crime Agency failed to investigate reports alleging that banks forged signatures and fabricated evidence.
Still no progress from NCA on this. Huge can of worms to open up if they pursue it, yet compelling evidence (some of it publicly available) that makes it difficult to shelve https://t.co/yHfBIrV3PJ
— James Hurley (@jameshurley) September 7, 2020
James Hurley reveals the FCA only prosecuted four boiler room frauds over the last five years.
Exc: Britain's financial regulator prosecuted only four boiler room frauds over the last five years and can't say how many people it has dedicated to tackling the problem, which by its own estimation is costing people their homes and savings. https://t.co/VAa1fJ8ZXe
— James Hurley (@jameshurley) September 5, 2020
Also in the Times over the weekend, more details on the London Capital & Finance.
The government must show it cares by giving law enforcers and regulators the powers and the resources needed to tackle this. Meanwhile no one should touch risky investments with a barge pole unless they’re prepared to lose their money. https://t.co/dekEoq8OLP
— Richard Lloyd (@RichardJLloyd) September 5, 2020
The UK government looks to restrict EU’s access to the London Stock Exchange, in leaked strategy.
Yes, Yes, Yes. This is the solution to Brexit negotiations, say Frankfurt, Amsterdam, Dublin and Paris https://t.co/8rWsYpGN9E
— Chris Giles (@ChrisGiles_) September 6, 2020
The Universities Superannuation Scheme, the largest private-sector pension fund in the UK, has seen its deficit rise from £3.6bn in 2018 to an estimated £18bn in 2020.
SCOOP: UK universities and staff could see #pension contributions rise to 68% of salary as #USS deficit blows out from £3.6bn to £18bn. https://t.co/w4RtjW54el
— Josephine Cumbo (@JosephineCumbo) September 6, 2020
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