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Consider consequences for BoE's Bailey over LCF collapse - report author 02/01/2021 | 01:22pm EDT Send by mail : Message : Required fields LONDON (Reuters) - Britain's finance ministry and financial regulator must consider what action to take against Bank of England Governor Andrew Bailey and two officials over their handling of LCF, the author of a report about the collapsed fund said on Monday. The demise of London Capital & Finance (LCF) in 2019 left investors in mini-bonds facing losses of up to 237 million pounds ($324 million) at a time when Bailey was head of the Financial Conduct ...

Report calls on Government and FCA to 'consider consequences' for BoE boss Andrew Bailey over LCF collapse Andrew Bailey's handling of the LCF mini-bonds scandal has come under fire (Simon Dawson/Bloomberg via Getty Images The Treasury and Financial Conduct Authority (FCA) must consider what action to take against Bank of England Governor Andrew Bailey and two officials over their handling of LCF, the author of a report about the collapsed fund told MPs today. The demise of London Capital & Finance (LCF) in 2019 left investors in mini-bonds facing losses of up to £237m at a ...

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To embed, copy and paste the code into your website or blog: Recent regulatory developments of interest to all financial institutions. See also sector specific updates in the Related Materials links. Contents Sanctions Regulations (EU Exit) (Commencement) Regulations 2020 UK financial services overseas framework: HM Treasury call for evidence BoE Financial Stability Report and FPC summary and record SMCR implementation: PRA evaluation UK Investment Firms Prudential Regime: FCA CP20/24 FCA Handbook Notice 83 FOS consults on plans and budget for 2021/22 FOS Ombudsman News 156 IFD: EBA consults ...

Surely, it is time for the Government to launch a review into the workings of the City's regulator, the Financial Conduct Authority. An organisation meant to protect customers but, based on the conclusions of excoriating independent reviews just published into its role in two scandals, is more interested in protecting its own.  It is all so shameful. Indeed, so damning are the findings that regulatory heads should now roll and bonuses earned by key executives paid back – yes, unbelievably, executive greed is even part and parcel of our bloated regulator's culture.  The two reports, into t...