"Cooperate" or face enforcement action, split caps firms told

A statement published this afternoon by the Financial Services Authority says not only will they begin referring enforcement cases to the independent Regulatory Decisions Committee next month, but it will also continue to separately investigate individuals who may have been involved in the split-caps scandal, regardless of the outcome of talks with companies. Talks between the regulator and senior officials of 21 fund management, broker to split capital investment trust firms took place in March earlier this year to try and come to an agreement on a split-caps compensation pot for consum...