FCA to broker redress settlement for Connaught investors

As part of the voluntary "negotiated settlement", the FCA has said it will, for a limited period, support the parties concerned in an attempt to reach a resolution leading to "appropriate" redress for investors as soon as possible. Connaught entered administration in September 2012 after the collapse of its Income Series 1,2 and 3 unregulated collective investment schemes (UCIS), which provided credit lines to stricken bridging lender Tuita, a firm that also went into administration in September 2012. About £118m was invested in the scheme. The parties the FCA will try to broker a dea...