Retired Judge To Lead Probe Into FCA Amid Bond Scandal
Law360, London (May 23, 2019, 6:47 PM BST) -- A former appellate judge will lead an investigation into whether the Financial Conduct Authority failed to oversee London Capital & Finance PLC before the mini-bond issuer's collapse in January, the agency and HM Treasury said Thursday.
Veteran barrister Elizabeth Gloster QC will spearhead the inquiry into the FCA's handling of LC&F and probe whether The City watchdog failed to adequately supervise the company, which wiped out investors' savings when it fell into administration and prompted questions about the sale of risky unregulated debt securities referred to as mini-bonds.
The investigation will establish what happened to the mini-bond firm and whether the FCA's...
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