FCA must improve information disclosure, commissioner says

The complainant contacted the FCA about a £15,000 investment to what the regulator initially said was a cloned firm. However, it later emerged that the transaction was in fact not with a cloned firm but a Cyprus-based operation which the FCA had issued sanctions against. The Complaints Commissioner said that despite the FCA bringing forward evidence of a telephone call which outlined everything the complainant needed to know about the issue, she found in favour of the complainant and awarded £500 in compensation. Responding to the complainant, commissioner Amerdeep Somal said: "In one...