Capita makes £37m provision ahead of Connaught investigation

In its half-year results published on Thursday, Capita said the FCA "recently indicated" to the company it could penalise the firm in connection with its conduct as operator of the failed Connaught fund. In July the FCA announced it was launching a third-party investigation into the collapse of the fund, while its own investigation is still ongoing. At the announcement, FCA chief executive Andrew Bailey said it was working to bring "investigations to a close as quickly as we can", adding that "significant resources" had been committed to the process. The Connaught fund, which invested...