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Action Group for AIG Enhanced Fund Victims
Sharing information for the 1000s of victims of AIG's Enhanced fund. Aiming to give the fundholders a voice in what happens to their money.
Forum
Time of Day the Enhanced Fund was frozen 2 Replies
Started by deborah H Dennison. Last reply by deborah H Dennison on Friday.
Transfer of business to a 3rd party July 2012 1 Reply
Started by John Upex. Last reply by lukudav(Merrill Lynch) May 25.
FOS combining complaints 10 Replies
Started by anthea johnson. Last reply by R S[BW] Apr 12.
Barclays Wealth : Initial Legal Opinion 13 Replies
Started by Stu. Last reply by Hobie Mar 29.
Win against bank 3 Replies
Started by AM. Last reply by Mitch Mar 12.
UBS and AIG enhanced? 7 Replies
Started by Tony Marsden. Last reply by Tony Marsden Nov 28, 2011.
HSBC win case 5 Replies
Started by AM. Last reply by R S[BW] Oct 21, 2011.
FSA investigating Coutts over AIG bond sales 1 Reply
Started by Mike. Last reply by Anthony Deal Sep 7, 2011.
FOS DECISION DUE 2 Replies
Started by R S[BW]. Last reply by R S[BW] Sep 6, 2011.
Enhanced Fund asset value recovery
Started by deborah H Dennison Apr 11, 2011.
AIG Enhanced Fund Action Group - moving on
ALL OPINIONS EXPRESSED ON THIS WEBSITE ARE THOSE OF THE MEMBERS WHO CHOOSE TO CONTRIBUTE. THEY SHOULD NOT TO BE INTERPRETED AS OFFERING SPECIFIC “FINANCIAL, TAX or LEGAL ADVICE”. INVESTORS MUST OBTAIN THEIR OWN INDEPENDENT PROFESSIONAL ADVICE.
THE LATEST PRF PRICE FROM ALICO - CLICK HERE
UPDATE UPDATE UPDATE > 22nd May < UPDATE UPDATE UPDATE
Welcome to the End Game.......
Your Withdrawal Form is here
You need to also send in your policy schedule, and if you've lost it send in this declaration
If you've changed your bank account from the one you sent in the original money from you also need this form
Send in your form now, so it gets in the queue - your money will NOT be sent out automatically and will not be coming out on the 1st of July - that's just the date the fund closes.
Please please please bomard FOS and the FSA with requests to provide a final adjudication on Barclays.
If you surrender without checking you might get spanked with a tax bill: ask your bank or your solicitor for your tax calculation, and how you might avoid it.
READ ALL ABOUT IT.........AIG PRF FUND BEATS BOTH FTSE100 AND THE BARCLAYS GROWTH PORTFOLIO UNIT TRUST.
Its true....a long time ago when this all blew up I did mention to a city bank investor that the PRF could turn out to be one of the best places to wait out the turbulence. The FTSE was then at 5416 and is now 5350, and Barclays Growth (sic) looks like this:
15 May 2012 Last PRF pricing date and last date withdrawals will be paid from the fund prior to maturity on 1 July 2012.
1 July 2012
The PRF will close and for every PRF unit held Alico will automatically switch at least £1 per unit into the Standard Fund.
3 July 2012 and onwards Alico will make withdrawal payments out of the Standard Fund.
OUT OF THE MOUTHS OF BABES AND BANKERS....
The FSA rulebook says:
Rule 14.3.2 specifically stipulates that the risks must be provided
‘in sufficient detail to enable the client to take investment decisions on an informed basis’.
Barclays Bank compliance says:
" A product is not inappropriate or unsuitable simply because an investor does not understand it, particularly in circumstances where the investor has granted a discretionary mandate to the banker in connection with investment decisions. Put bluntly, there is no requirement that the investor should understand matters at all."
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Blog Posts
FOS & FSA: the Wider Implications Process.
Posted by Hobie on July 6, 2009 at 17:53 — 6 Comments
Update on the PRF - if you prefer fact to comment
Posted by Hobie on July 26, 2009 at 10:06
The FSA's definition of cash
Posted by Hobie on July 2, 2009 at 15:30
How to get the refund of your original subscription
Posted by Hobie on July 1, 2009 at 8:30 — 3 Comments
How to get your client file
Posted by Hobie on July 1, 2009 at 8:24
Latest Activity
deborah H Dennison replied to deborah H Dennison's discussion Time of Day the Enhanced Fund was frozen
Hobie replied to deborah H Dennison's discussion Time of Day the Enhanced Fund was frozen"It wasn't Monday 16th, it was Tuesday 16th.
Nothing was processed that day, so you could effectively say it was close of business on Monday. The uncertainty around what was actually happening at that time would make any complaint about timing…"
lukudav(Merrill Lynch) replied to John Upex's discussion Transfer of business to a 3rd party July 2012"Thank you for acting on the news. I am afraid I have got so cynical about the whole thing that I just groaned and hid my head in the sand.
I agree with you 100%.I would slightly tone down the criticisms of the FSA and FO, not that the criticisms are…"
John Upex posted a discussionTransfer of business to a 3rd party July 2012
May 24thWe are advised that AIG propose to transfer this section of their business to a 3rd party on July 24th - a few days after the proposed termination of the Enhanced Fund. This Transfer has to be approved and is apparently to be heard before the High Court in London. In my view this transfer will at best complicate lines of responsibility and liablity for any actions which we 'victims' may (at last) be able to pursue now that the FSA/FOS have made their pronouncements. I propose that 'we…See More
deborah H Dennison posted a discussionTime of Day the Enhanced Fund was frozen
Of course we know it was Monday 16th, but does anyone know what actual time in was frozen. We weretold to stay in at 10am by Barclays on morning of 16th. DebSee More
Mitch commented on Robert Morfee's blog post Group Claim wins"Can't believe the FSA have only fined Coutts over all of this - surely the other private Banks were selling AIG on the same basis ?"
Robert Morfee posted a blog postGroup Claim wins
I am delighted to learn that FOS has been awarding compensation to AIG investors. The lead case decision of Mr and Mrs V has of course been published and is helpful.I wonder how many decisions of FOS there have been; those of my clients who have complaints with FOS have still not yet received any decisions.Hobie asked if anyone has had any joy through the courts. The reason why there is no publicity about claims pursued through the courts is that the financial services industry has a practice…See More
Hobie commented on CHRIS LLOYD's blog post Coutts"It wasn't notified on the FSA order, and I don't believe Coutts are under any obligation to publish the name. It is normally Deloitte's, KPMG or the like.
If you are a Coutts custome, ask them. If they have refused to reveal to you,…"
CHRIS LLOYD posted a blog postCoutts
Who is the independent third party carrying out the client case reviews for Coutts?
GB commented on Helena Elizabeth O'Reilly's blog post No Title"I presume your original complaint was against the Bank/adviser. You could make a complaint to AIG, await their response, and when they reject it, submit the complaint against AIG to the FOS."
Helena Elizabeth O'Reilly posted a blog postWe have tried unsuccessfully to get the F.O.S. to look at our case butr because we did not refer to them within 6 months of Caroline Banks stating we did not have a claim in their opinion - we missed…
We have tried unsuccessfully to get the F.O.S. to look at our case butr because we did not refer to them within 6 months of Caroline Banks stating we did not have a claim in their opinion - we missed out.Is there a lawyer out there that could help us - we are within the statutory 6 years?My email is helena@cjrcontracts.co.uk.The FOS think we may have a case but cannot help us now!See More
R S[BW] replied to anthea johnson's discussion FOS combining complaints"Has any body heard from the FOS recently. I was informed that I should receive a favourable settlement but this was months ago and I havestill not had confirmation."
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