Gina Miller calls on Treasury Select Committee to investigate 'illegal' FCA compensation scheme

London Capital & Finance

James Baxter-Derrington
clock • 1 min read

Co-founder of the True and Fair Campaign Gina Miller has called on the Treasury Select Committee to launch a “Kingman-style independent review” of the Financial Conduct Authority.

In an open letter to the committee, Miller argued the recent final report from the Complaints Commission regarding the regulator's oversight of London Capital & Finance proved the FCA has acted "both illegally and illicitly" in its implementation of the compensation scheme. Miller said the independent complaints commissioner frequently had their recommendations ignored by the regulator, despite being appointed by the FCA. She added that the report had revealed "the FCA's decision to act illegally". The letter quoted the report: "The FCA has asked me to have regard to the wider implica...

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