FCA pledges March update on Connaught redress deal

The Financial Conduct Authority (FCA) has been trying to reach a ‘negotiated settlement' for investors between the liquidator of the Connaught Series 1 fund and its former operators, Capita Financial Managers and Blue Gate Capital. Investors are represented by the Connaught Action Group and major creditor HMRC. But a resolution has yet to be reached. The FCA has said talks are continuing and that it will provide an update by the first week of March, or sooner "if circumstances allow". Last November, the regulator extended its support for the process until January this year, longer ...