Capita FM censured and ordered to pay £66m to Connaught investors

Marks the end of FCA investigation into CFM

Carmen Reichman
clock • 3 min read

Capita Financial Managers (CFM) has been publicly censured and ordered to pay up to £66m to investors who lost money as a result of investing in the now defunct Connaught fund.

The Financial Conduct Authority (FCA) said in a statement on Friday it would be in charge of processing the payment, which will be made to investors in the Connaught Income Fund, Series 1 in 2018. It said it wanted CFM to return the amount originally invested, placing investors as closely as possible back into the position they would have been in had they never invested in the fund. The payment takes into account the fact that investors have already received a distribution of £22m made in the liquidation, as well as interest and other payments. It also includes any awards made by the ...

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