FCA: 'Human error' slowed Blackmore Bond police report

Not all information sent to City of London officers, FCA confirms

Jenna Brown
clock • 1 min read

The Financial Conduct Authority (FCA) informed City of London Police about Blackmore Bond sales in 2017 but “human error meant that the full suite of information was not sent across”, the watchdog has confirmed.

Correspondence between the regulator's chief executive (CEO) Nikhil Rathi and Treasury Committee chair Harriett Baldwin, dated 14 December, stated: "Any suggestion that the FCA took no action in relation to Blackmore would not be correct." It said the FCA shared information with City of London Police "as early as 2017, although regrettably human error" meant not all the facts were handed over. It added the City of London Police also shared intelligence with the FCA but not until February 2020. The Blackmore Bond saga - which featured in an episode of Panorama last year - has seen inve...

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