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Cabot - FCA Status

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  • Cabot - FCA Status

    Hello everybody. I've found your discussions and advice on here very helpful recently and I'd like to thank everybody who contributes and especially those who are regular contributors.

    I have what I hope is only a quick query. The status of Cabot Financial (UK) has 'lapsed' with the FCA. Can anybody explain what this means? Are they able to conduct business if they're not regulated?

    Many thanks.
    Tom.
    Tags: None

  • #2
    Re: Cabot - FCA Status

    If they have an agreement with another authorised company, yes. If not, no.

    M1

    Comment


    • #3
      Re: Cabot - FCA Status

      Or to put it another way

      Even though the law says no , money talks so the FCA says YES

      Who were the bank that liked to say yes?

      Comment


      • #4
        Re: Cabot - FCA Status

        Ok, thanks guys. I've fired off an email to the FCA to ask what Cabot's status means and if they need to be regulated by them or by anybody else. They should reply in 2 working days. I'll post the reply here.

        Comment


        • #5
          Re: Cabot - FCA Status

          Originally posted by Noah View Post
          Or to put it another way

          Even though the law says no , money talks so the FCA says YES

          Who were the bank that liked to say yes?
          Probably mine, when I asked if they were stopping my OD facility!
          CAVEAT LECTOR

          This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

          You and I do not see things as they are. We see things as we are.
          Cohen, Herb


          There is danger when a man throws his tongue into high gear before he
          gets his brain a-going.
          Phelps, C. C.


          "They couldn't hit an elephant at this distance!"
          The last words of John Sedgwick

          Comment


          • #6
            Re: Cabot - FCA Status

            Ok, so I'm waiting for an email response from the FCA but in the meantime I called them. The result was that Cabot Financial (UK) are ok to chase debts such as the £24.50 they claim I owed to Sky but they can't deal with anything to do with credit such as bank loans or credit cards. The official response will come along soon.

            Comment


            • #7
              Re: Cabot - FCA Status

              I believe this is only for Cabot Financial UK and not Cabot Financial Europe, which is where their threat-o-grams come from.

              Comment

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