Authorisation Division News Today

The FCA is proposing to streamline decision-making and governance by moving some decision-making powers from the more independent, board level, Regulatory Decisions Committee (RDC) to...

To embed, copy and paste the code into your website or blog: Selected regulatory updates of interest to the funds and asset management sector. Among other things, this edition reports on adding a sub-fund under the UK FCA TMPR and amending a recognised EEA UCITS. Contents Amending a recognised EEA UCITS: FCA notification form Connaught Income Fund Series 1: Report of the independent review into FCA and FCA response London Capital & Finance: Report on independent investigation and FCA response E...

UK Financial Conduct Authority Responds To Independent Reviews Into Its Regulation Of London Capital & Finance And Connaught Date 17/12/2020 The FCA has today responded to the independent reviews of its regulation of London Capital & Finance plc (LCF) and Connaught Income Fund Series 1 and connected companies (Connaught). The reviews, undertaken by Dame Elizabeth Gloster and Raj Parker respectively, are now available – The LCF Review  and The Connaught Review. The FCA has accepted th...

The independent review of the Connaught property fund – the fund behind former bridging lender Tiuta – has been released prompting the chair of the Financial Conduct Authority (FCA) to admit that there were a number of things the regulator “could have done better”. Bridging lender Tiuta went into administration back in September 2012 after a blackhole of approximately £20m had been found in its accounts at the beginning of 2011. By December 2012, Connaught had entered liquidation. At t...