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Treasury secretary Glen backs FCA on LCF


Treasury secretary Glen backs FCA on LCF
By
Jon Yarker
30
th April 2021
3:31 pm
John Glen has backed the FCA’s approach to London and Capital Finance despite failing to do so in person before MPs at a hearing earlier this month.
Glen who is economic secretary to the Treasury and an MP, made the affirmation in a letter to Mel Stride MP, chair of the Treasury select committee.
He had previously given evidence to the committee regarding the FCA’s regulation of LCF, during which he apologised to the 11,625 bondholders caught up in the scandal.
During his evidence he declined to give his full backing to former supervision head Megan Butler, who had been named in the highly critical Gloster Report, or defend the FCA’s controversial decision to promote her. ....

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