The chair of the Financial Conduct Authority (FCA) Charles Randell has promised to “transform” the regulator in the wake of three separate financial scandals, independent reviews of which are set to be completed soon and are expected to provide “difficult food for thought” on its past failures.
Speaking at the FCA's annual public meeting on Thursday (24 September) Randell confirmed the completion of reviews into the collapse of London Capital & Finance, the Connaught fund scandal and the mis-selling of interest rate hedging products is expected between October and "early next year", with the regulator having faced fierce scrutiny over its handling of all three in recent years. It follows similar comments from outgoing chief executive of the FCA Chris Woolard, who earlier this week (21 September) said the regulator was set for some "painful lessons" in reviews of the regulatory ...
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