MP Nicky Morgan calls on FCA to investigate London Capital & Finance

Four arrested in connection with case

Hannah Godfrey
clock • 2 min read

Treasury select committee chair Nicky Morgan MP has called on the FCA to look more closely into events at collapsed mini-bond issuer London Capital and Finance (LC&F).

Earlier this month four individuals were arrested in the Kent and Sussex areas in connection with the collapsed firm, which entered into administration in January. The four have since been released pending further investigation.  In response to the situation with LC&F, Morgan (pictured) has written to the Financial Conduct Authority (FCA) board to request it consider whether the tests around the need for a statutory investigation into possible regulatory failure surrounding the firm's collapse have been met. HM Treasury has the power to require the regulator to conduct such an investi...

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 Regulation

Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 03 September 2025 • 1 min read
Targeted support regime welcome but rules need 'adjustments'

Targeted support regime welcome but rules need 'adjustments'

Advisers, providers and trade bodies call for clarity as consultation closes

Sahar Nazir
clock 29 August 2025 • 4 min read
SMCR reform needs efficiency without sacrificing accountability

SMCR reform needs efficiency without sacrificing accountability

'If we lose sight of the SMCR's fundamental purpose we risk undoing years of progress'

Shaun Hurst
clock 28 August 2025 • 4 min read