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Change in Financial Conduct Authority's culture needed to protect consumers and financial markets - Committees


Report Summary
LCF issued mini-bonds, an unregulated investment product that typically offers high returns, reflecting the high risks involved. The FCA directed LCF to withdraw its promotional material for mini-bonds in December 2018 as it was “misleading, not fair and unclear”.
The following month, LCF entered administration. Following a request from the previous Treasury Committee, HM Treasury agreed to a request from the FCA for an independent investigation into the collapse of LCF.
Rt Hon. Dame Elizabeth Gloster DBE was appointed to lead the investigation, the findings of which were published in December 2020. The Treasury Committee launched its inquiry into the FCA’s regulation of LCF in February 2021 in order to consider Dame Elizabeth’s findings, examine the changes that have been made since the publication of her report, and to make further recommendations to the FCA and HM Treasury. The conclusions are summarised below: ....

Dame Elizabeth Gloster , Dame Elizabeth , Treasury Committee , Senior Managers Regime , Online Safety , Online Safety Bill , Compensation Bill , Mel Stride , Elizabeth Gloster , டேம் எலிசபெத் குளோஸ்டர் , டேம் எலிசபெத் , கருவூலம் குழு , மூத்தவர் மேலாளர்கள் ஆட்சி , நிகழ்நிலை பாதுகாப்பு , நிகழ்நிலை பாதுகாப்பு ர சி து , இழப்பீடு ர சி து , மெல் முன்னேற்றம் , எலிசபெத் குளோஸ்டர் ,