Analysis

5 Most Damning Revelations From FCA's Minibond Review

Law360, London (December 18, 2020, 11:31 PM GMT) -- A report into the collapse of London Capital & Finance exposed a string of failures at Britain's Financial Conduct Authority that allowed one of the country's biggest financial scandals, in which almost 12,000 investors lost £236 million ($318 million), to take place right under the City watchdog's nose.

A new report faults the FCA for failing to respond to warnings about potential fraud or other irregularities at London Capital & Finance, among other regulatory deficiencies. (Chris Ratcliffe/Bloomberg via Getty Images)

The near 500-page report by retired judge Dame Elizabeth Gloster, published Thursday, reads as a damning indictment of the FCA's failure...

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