Submitted on Monday 8th March 2021
Rejected on Monday 15th March 2021
Current status: Rejected
Rejection code: no-action (see below for details)
Investigate FCA's ability to monitor modern precious metal market manipulation
UK investors lack the confidence that the FCA has the expertise or will to find precious metal market manipulation. ETF Securities/ Futures paper markets no longer reflect or tied to the physical precious metal price in a worrying way. New transparency ,audits & legislation for 2021 is required
The British retail investor must be protected from manipulation. At the core of being British is sportsmanship and fair play. These values are absent in precious metals investment space. MP's should ask themselves :
How have we allowed a silver monopoly to occur from key bullion banks?
Why is it the Futures market no longer reflects physical spot prices?
Why are audits of vault inventory rare and non transparent ?
Do we understand modern techniques like "spoofing"
Is legislation up to date ?
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
Petitions need to call on the Government or Parliament to take a specific action.
We understand that you are concerned about the precious metals market, but we're not sure exactly what you'd like the Government or Parliament to do.
Your central ask appears to be for an investigation of the FCA's ability to monitor manipulation of the precious metal market, but your petition goes on to say that new transparency, audits and legislation are required, but doesn't say what these should entail.
You could start a new petition explaining clearly what you would like the Government or Parliament to do.
3.146.176.254 Fri, 17 May 2024 01:56:51 +0100
