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Connaught fund operator enters liquidation


Several months after the FCA ordered the firm to pay £203,007 in restitution to investors
Blue Gate Capital has appointed Jason Mark Elliott and Craig Johns of Cowgill Holloway Business Recovery on 1 March 2021 to liquidate the company.
The firm was one of the operators of the Connaught Income Fund Series 1, which collapsed in 2012 causing investors to lose around £118m ($164m, €136m).
The Connaught fund was an unregulated collective investment scheme run by Capita Financial Managers and, from 2009, Blue Gate Capital, providing short term bridging finance to commercial operators in the UK property market.
Fine
After an investigation into the scandal, the FCA said that the firm “failed to communicate with the fund’s investors in a way that was clear, fair and not misleading”. ....

United Kingdom , Craig Johns , Jason Mark Elliott , Connaught Income Fund , Connaught Income Fund Series , Financial Conduct Authority , Blue Gate Capital , Cowgill Holloway Business Recovery , Capita Financial Managers , Blue Gate , Connaught Income , ஒன்றுபட்டது கிஂக்டம் , கிரேக் ஜான்ஸ் , ஜேசன் குறி எலியட் , இணைத்தல் வருமானம் நிதி , இணைத்தல் வருமானம் நிதி தொடர் , நிதி நடத்தை அதிகாரம் , நீலம் வாயில் மூலதனம் , க G கில் ஹோலோவே வணிக மீட்பு , தலா நிதி மேலாளர்கள் , நீலம் வாயில் , இணைத்தல் வருமானம் ,

FCA admits 'mistakes' after scathing reports on mini-bond and collapsed fund scandals


FCA admits ‘mistakes’ after scathing reports on mini-bond and collapsed fund scandals
‘We are profoundly sorry for the mistakes we have made’
Two independent investigations into the Financial Conduct Authority’s (FCA) handling of the London Capital Finance (LCF) mini-bond mis-selling and the collapse of the Connaught fund have revealed a raft of serious regulatory failures.
The Connaught review found that the FCA’s actions put in place to remedy the effect of the collapse of the collective investment scheme – including putting out consumer alerts, contacting IFAs, and varying some permissions – were “well-intentioned but insufficient to protect those persons who invested in the fund before May 2011, or who did so in the following period leading up to the collapse of the fund in 2012”. ....

United Kingdom , City Of , Charles Randell , Dame Elizabeth Gloster , John Glen , Nikhil Rathi , Tim Fassam , International Adviser , Financial Services Compensation Scheme , Financial Conduct Authority , London Capital Finance , Capital Financial , Blue Gate Capital , Elizabeth Gloster , Portfolio Adviser , Treasury John Glen , ஒன்றுபட்டது கிஂக்டம் , நகரம் ஆஃப் , சார்லஸ் ரேண்டெல் , டேம் எலிசபெத் குளோஸ்டர் , ஜான் க்ளென் , நிகில் ரதி , நிதி சேவைகள் இழப்பீடு திட்டம் , நிதி நடத்தை அதிகாரம் , லண்டன் மூலதனம் நிதி , மூலதனம் நிதி ,

FCA admits 'mistakes' in mini-bond and collapsed fund scandals


Bondholders will be able to claim compensation from regulator, economic secretary says
Two independent investigations into the Financial Conduct Authority’s (FCA) handling of the London Capital Finance (LCF) mini-bond mis-selling and the collapse of the Connaught fund have revealed several regulatory failures.
The Connaught review found that the FCA’s actions put in place to remedy the effect of the collapse of the collective investment scheme – including putting out consumer alerts, contacting IFAs, and varying some permissions – were “well-intentioned but insufficient to protect those persons who invested in the fund before May 2011, or who did so in the following period leading up to the collapse of the fund in 2012”. ....

United Kingdom , City Of , Charles Randell , Dame Elizabeth Gloster , John Glen , Nikhil Rathi , Tim Fassam , International Adviser , Financial Services Compensation Scheme , Financial Conduct Authority , London Capital Finance , Capital Financial , Blue Gate Capital , Elizabeth Gloster , Treasury John Glen , ஒன்றுபட்டது கிஂக்டம் , நகரம் ஆஃப் , சார்லஸ் ரேண்டெல் , டேம் எலிசபெத் குளோஸ்டர் , ஜான் க்ளென் , நிகில் ரதி , நிதி சேவைகள் இழப்பீடு திட்டம் , நிதி நடத்தை அதிகாரம் , லண்டன் மூலதனம் நிதி , மூலதனம் நிதி , நீலம் வாயில் மூலதனம் ,