FCA pledges March update on Connaught redress deal

Laura Miller
clock

Investors in failed fund Connaught who are trying to claw back some of their losses must wait longer in limbo as the regulator admits it has still not brokered a deal to secure redress for them.

The Financial Conduct Authority (FCA) has been trying to reach a ‘negotiated settlement' for investors between the liquidator of the Connaught Series 1 fund and its former operators, Capita Financial Managers and Blue Gate Capital. Investors are represented by the Connaught Action Group and major creditor HMRC. But a resolution has yet to be reached. The FCA has said talks are continuing and that it will provide an update by the first week of March, or sooner "if circumstances allow". Last November, the regulator extended its support for the process until January this year, longer ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

What does 2026 hold for investment?

What does 2026 hold for investment?

‘The disruptors of yesterday are now the establishment’

Jen Frost
clock 17 December 2025 • 3 min read
FCA launches trio of crypto consultations as UK interest nears tipping point

FCA launches trio of crypto consultations as UK interest nears tipping point

Consumer protection and innovation

Patrick Brusnahan
clock 16 December 2025 • 2 min read
Cryptoasset legislation in UK to come into force in 2027

Cryptoasset legislation in UK to come into force in 2027

Consumer protection

Cristian Angeloni
clock 15 December 2025 • 1 min read