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MPs call for FCA to 'change culture' after London Capital & Finance collapse


MPs call for FCA to ‘change culture’ after London Capital & Finance collapse
London Capital & Finance collapsed in 2019 (Jonathan Brady/PA)
MPs have called for a “change in culture” at the UK’s financial regulator to protect consumers and financial markets following the collapse of mini-bond firm London Capital & Finance (LCF).
The Treasury Select Committee has also called for the Financial Conduct Authority (FCA) to confirm a deadline to enact a transformation programme to improve the organisation.
It comes a month after the FCA apologised to bondholders who lost millions of pounds invested in the collapsed mini-bond firm.
LCF failed in 2019 after raising £237 million from 11,000 small investors. ....

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MPs call for FCA to 'change culture' after London Capital & Finance collapse | The Wiltshire Gazette and Herald


MPs have called for a “change in culture” at the UK’s financial regulator to protect consumers and financial markets following the collapse of mini-bond firm London Capital & Finance (LCF).
The Treasury Select Committee has also called for the Financial Conduct Authority (FCA) to confirm a deadline to enact a transformation programme to improve the organisation.
It comes a month after the FCA apologised to bondholders who lost millions of pounds invested in the collapsed mini-bond firm.
LCF failed in 2019 after raising £237 million from 11,000 small investors.
In December last year, a report by Dame Elizabeth Gloster found the FCA failed to properly regulate and supervise LCF and said the regulator must focus on improving internal authorisation and supervision processes. ....

Dame Elizabeth Gloster , Treasury Select Committee , Treasury Committee , Elizabeth Gloster , Online Safety Bill , Gloster Report , டேம் எலிசபெத் குளோஸ்டர் , கருவூலம் தேர்ந்தெடுக்கவும் குழு , கருவூலம் குழு , எலிசபெத் குளோஸ்டர் , நிகழ்நிலை பாதுகாப்பு ர சி து , குளோஸ்டர் அறிக்கை ,