Putting Things Right
The best thing to do when something goes wrong, in my opinion, is to accept responsibility, apologise and put things right.
So I was pleased to read what Stefan had to say about this latest business involving the FCA.
Embarrassing, a headache you could live without? - of course.
But I certainly prefer this kind of plain speaking to the excuses, dissembling and buck-passing you hear from the politicians every day, particularly during an election campaign.
Here's an extract from Stefan's statement to the press:
"It is very regrettable that this situation has occurred and I'd like to personally apologise to the women involved. However I can assure them that we have taken all necessary steps to ensure that their claims can proceed normally.
"The overriding priority has been to protect the interests of these women, and Addleshaw Goddard has been working closely with us on these cases for the past six years, so is ideally placed to ensure a smooth continuation of their cases."
Well said.
A4ES TO SUSPEND ALL CURRENT ACTIVITIES
As some of you may have noticed the A4ES website has been down for a couple of weeks. The reason for this was that the firm received a letter from the financial conduct authority (FCA) which informed us that they considered that we could be carrying out “claims management activities“ in breach of new legislation.
A4ES was completely unaware of the fact that legislation had been brought into effect in Scotland from April 2019. Claims management activities have been regulated in England and Wales for many years but were completely unregulated in Scotland until now.
Obviously the firm immediately instructed our lawyers to give us advice on the contents of the letter from the FCA and to engage with them.
As a result it was decided to suspend all of A4ESs activities whilst these matters are investigated. This includes shutting down the website, deciding not to take on any new clients and not to be involved in any at further direct negotiations as a representative.
This will not affect the ongoing settlement process which is being handled by Addleshaw Goddard in any event.
The main group that could be affected are the Baxter Storey people where negotiations were due to take place in the next few days. Addleshaw Goddard will be attending these meetings on their behalf but I won’t attend.(Although we’ve just been informed the next meeting has been postponed. The lawyers all hope that this can be sorted without needing a meeting after all)
Fortunately as you know all ongoing tribunal claims are already suspended at the tribunal and won’t be resumed at least until 2021.
A4ES intends to make an application to the FCA to become a regulated claims management company. This can though take several months, but we will not be undertaking regulated claims management activities until we receive the FCA's formal permission.
We apologise for the disruption and we hope you will understand the position
Stefan Cross
A4ESL
As some of you may have noticed the A4ES website has been down for a couple of weeks. The reason for this was that the firm received a letter from the financial conduct authority (FCA) which informed us that they considered that we could be carrying out “claims management activities“ in breach of new legislation.
A4ES was completely unaware of the fact that legislation had been brought into effect in Scotland from April 2019. Claims management activities have been regulated in England and Wales for many years but were completely unregulated in Scotland until now.
Obviously the firm immediately instructed our lawyers to give us advice on the contents of the letter from the FCA and to engage with them.
As a result it was decided to suspend all of A4ESs activities whilst these matters are investigated. This includes shutting down the website, deciding not to take on any new clients and not to be involved in any at further direct negotiations as a representative.
This will not affect the ongoing settlement process which is being handled by Addleshaw Goddard in any event.
The main group that could be affected are the Baxter Storey people where negotiations were due to take place in the next few days. Addleshaw Goddard will be attending these meetings on their behalf but I won’t attend.(Although we’ve just been informed the next meeting has been postponed. The lawyers all hope that this can be sorted without needing a meeting after all)
Fortunately as you know all ongoing tribunal claims are already suspended at the tribunal and won’t be resumed at least until 2021.
A4ES intends to make an application to the FCA to become a regulated claims management company. This can though take several months, but we will not be undertaking regulated claims management activities until we receive the FCA's formal permission.
We apologise for the disruption and we hope you will understand the position
Stefan Cross
