FCA Warns Its Reach Has Limits After Bond Provider Collapse

Law360, London (June 20, 2019, 1:50 PM BST) -- The Financial Conduct Authority has set out which activities carried out by authorized financial services companies it does and does not regulate in a move to inform consumers about the protection available if providers go bust, after a mini-bond issuer collapsed in January.

The City watchdog published its first annual "perimeter" report on Wednesday, looking at how consumers can be harmed by financial services companies that are authorized by the FCA to provide services, but which carry out activities that may not be regulated. The watchdog's so-called perimeter determines which type of businesses must be authorized and dictates the level of protection...

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