FCA's supervision of London Capital & Finance to be investigated

'Broad and comprehensive remit'

Sophie King
clock • 2 min read

The Financial Conduct Authority (FCA) has called for an independent investigation into the issues raised by the collapse of London Capital & Finance (LCF), including its own supervision of the firm.

Last month, Treasury select committee chair Nicky Morgan MP called on the FCA to look more closely into events at the collapsed mini-bond issuer. The MP's call came after four individuals were arrested in the Kent and Sussex areas in connection with the firm, which entered into administration in January. The regulator said the investigation should cover questions in two areas - whether the existing regulatory system adequately protects retail purchasers of mini-bonds from unacceptable levels of harm, and the FCA's own supervision of LCF. At a meeting last Thursday (28 March), the regu...

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

Under 55s open to 'pay as you go' advice

Under 55s open to 'pay as you go' advice

Lang Cat research finds

Jen Frost
clock 27 June 2025 • 2 min read
Upper Tribunal upholds FCA ban on ex-Barclays CEO

Upper Tribunal upholds FCA ban on ex-Barclays CEO

FCA also fined Jes Staley £1.1m

Patrick Brusnahan
clock 26 June 2025 • 1 min read
SJP told to compensate man over charges breakdown failings

SJP told to compensate man over charges breakdown failings

Information sought amid client’s ongoing advice provision concerns

Jen Frost
clock 26 June 2025 • 2 min read