West 28th Street Limited

[strawberry]

New announcement by the FCA. Definitely a step in the right direction. Ethica is cooked, I will bet they regret getting involved

FCA acts to protect consumers facing demands for disguised remuneration scheme loan repayments

We've intervened and Ethica Resolve Limited (Ethica), an FCA authorised firm that services and collects debt on behalf of creditors, has agreed to restrictions. These follow demands it made for people to repay loans, or purported loans, provided as part of disguised remuneration schemes.

www.fca.org.uk

 

[RoundandRound]

A reminder if you haven't lodged a complaint with the FCA, please do so immediately.

 

[HairGel]

Just had the FCA email in as well. Thsi is fantastic news.

 

[sb2026]

New announcement by the FCA. Definitely a step in the right direction. Ethica is cooked, I will bet they regret getting involved

FCA acts to protect consumers facing demands for disguised remuneration scheme loan repayments

We've intervened and Ethica Resolve Limited (Ethica), an FCA authorised firm that services and collects debt on behalf of creditors, has agreed to restrictions. These follow demands it made for people to repay loans, or purported loans, provided as part of disguised remuneration schemes.

www.fca.org.uk

Great news! Thanks for sharing. Further information on the restrictions placed on Ethica in this link: NewRegister

 

[DanJackiels]

I like the detail ! Especially this one.

The Firm must ensure that it, or any person acting on its behalf, does not request, apply for or otherwise take any step to obtain judgment in default against any Defendant in any proceedings concerning the recovery of sums claimed by West 28 in relation to the Relevant Agreements unless and until the legal and regulatory requirements applicable to the relevant agreement have been satisfied, including any Validation Order and court order required.

 

[strawberry]

I like the detail ! Especially this one.

The Firm must ensure that it, or any person acting on its behalf, does not request, apply for or otherwise take any step to obtain judgment in default against any Defendant in any proceedings concerning the recovery of sums claimed by West 28 in relation to the Relevant Agreements unless and until the legal and regulatory requirements applicable to the relevant agreement have been satisfied, including any Validation Order and court order required.

and the fact they have to identify every single person who has voluntarily paid ANYTHING, will probably return the money. absolute muppets

 

[strawberry]

what a shame they didn't publicly mention Trethowants too

 

[DanJackiels]

what a shame they didn't publicly mention Trethowants too

Unfortunately need the SRA to highlight for these cowboys. Although you’d like to think any senior partner/ managing partner viewing the % of 1 star reviews creeping up would like to kill this.

 

[sb2026]

So I am assuming this is the next step?

d. “Court Claim” means the anticipated proceedings against approximately 3,028 of the Relevant Individuals, which will be issued on or before 13 November 2026;

 

[strawberry]

So I am assuming this is the next step?

d. “Court Claim” means the anticipated proceedings against approximately 3,028 of the Relevant Individuals, which will be issued on or before 13 November 2026;

I think there are 6000 people affected? their next step is probably applying for a validation order so keep sending any useful evidence to the FCA please. What we have all been doing in the last few days has worked. These were never loans. End of