Stay updated with breaking news from Authorisation Division. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
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 EU UCITS: ESMA launches common supervisory action with NCAs on supervision of costs and fees TMPR: FC...
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 the nine recommendations addressed solely to the FCA in the LCF Review and the five lessons identified...
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 that point, the outstanding principal invested by investors stood at £79m. Since then, investors hav...