ABOUT 40,000 investors who lost hundreds of millions of pounds in split-capital investment trusts face further delays before they receive compensation payments, according to the Daily Telegraph .
The FSA has spoken out concerning its "behind closed doors" meetings with split-caps provider firms and says it now intends to begin enforcement action against companies not prepared to cooperate.
The FSA claims it has found evidence of the alleged "magic circle" of split capital investment trusts, so chief executive John Tiner is preparing to launch enforcement proceedings, reported in the Scotsman.