BoE Chief 'Angry' At Claim He Tried To Duck Blame For LC&F

Law360, London (February 8, 2021, 7:14 PM GMT) -- Bank of England Gov. Andrew Bailey angrily hit back Monday at claims he tried to keep his name out of a damning report into the Financial Conduct Authority's handling of the London Capital & Finance scandal, telling lawmakers he took responsibility for the watchdog's failings.

Bailey, who was chief executive of the FCA when LC&F collapsed in 2019 leaving nearly 12,000 investors with losses of up to £236 million ($324.2 million), was heavily criticized in an independent inquiry published last year that concluded the regulator had missed a string of red flags about the minibond provider under his watch.

The report...

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