FCA appoints third party to review regulation of Connaught fund

Following reports published by the Complaints Commissioner, the financial watchdog said the "substantive" review would commence once the ongoing investigation has ended. It added it intended to publish the outcome to the extent that it can. Complaints Commissioner Antony Townsend said the regulator's failings in dealing with the Connaught fund go further than its acknowledgment that regulatory decisions were not taken quickly enough. He was responding to a complaint from Tiuta ex-CEO George Patellis - a company involved in the fund - who argued he was mistreated by the FCA and its predec...