Part of up to £66m in compensation to investors
Marks the end of FCA investigation into CFM
'FCA indicated it could penalise the firm'
Follows Complaints Commissioner reports
Firm faces £1.05m advice liabilities
The Financial Conduct Authority (FCA) has admitted a break down in discussions led to it failing to achieve a redress deal for investors in collapsed firm Connaught, causing further delays and "serious distress" to investors.