FCA Slammed For Narrow View Of Oversight In LC&F Collapse

Law360, London (December 17, 2020, 4:22 PM GMT) -- The Financial Conduct Authority's "unduly limited" approach to supervising British financial services providers allowed London Capital & Finance to lure customers into risky, unregulated mini-bonds that lost millions when the company collapsed, according to a high-profile independent review published Thursday.

The review has identified "significant gaps and weaknesses" in the FCA's policies after the collapse of the mini-bonds company, in which investors lost millions of pounds. (Getty) The long-awaited review, by retired Court of Appeal Judge Dame Elizabeth Gloster and Dechert LLP, identified "significant gaps and weaknesses" in the policies and practices used by the City regulator to analyze the businesses of...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!