Article preview: As a regulated business, we contribute to the cost of the Financial Services Compensation Scheme (FSCS) paying compensation to the customers of failed businesses. These expensive annual and interim levies make reading about regulatory failures from the Financial Conduct Authority (FCA) even more difficult. A new independent report into the behaviour of the FCA around the failed firm London and Capital Finance makes for challenging but sadly unsurprising reading. According to the report, the FCA failed to “effectively supervise and regulate” the failed mini-bond firm, which resulted in the loss of £237 million for 11,625 investors.
How the regulator failed to regulate London Capital and Finance
This 627-word blog post explains the findings of the Gloster report into the regulatory failures of the Financial Conduct Authority (FCA) in respect of their regulation of London and Capital and Finance. Written on 18th December 2020.
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