Treasury Committee LCF inquiry urges more 'interventionist' FCA

Regulator faces further pressure in wake of scandal

clock • 3 min read
Treasury Committee LCF inquiry urges more 'interventionist' FCA

Treasury Committee has called on the Financial Conduct Authority (FCA) to be more “interventionist” and “proactive” in its approach

In a report published on Thursday (24 June) the Treasury Committee slammed the FCA's board and most senior executives as failing to meet "the standards which [the regulator] seeks to impose on others". It follows an investigation under Dame Elizabeth, which in December revealed significant failures in the regulator's handling of the multi-million pound LCF and Connaught scandals, and included recommendations for change at the FCA. Most significantly, the changes included "restructuring the...

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