FCA investigates Capita over Connaught losses

clock • 1 min read

The Financial Conduct Authority (FCA) is to investigate the activities of the former operators of the Connaught Income Series 1 fund, Capita Financial Managers and Blue Gate Capital.

The regulator had been in negotiations with the liquidator of the fund, Capita and Blue Gate to see if agreement could be reached on how to address losses in the unregulated collective investment scheme (UCIS), but has now withdrawn while the investigation into their activities is conducted. "Due to the level of public interest in the fund, it was decided to make this decision public, but there will be no further comment until investigations reach a conclusion," the FCA said in a statement on 10 March. "The fact that a firm is under investigation does not mean that the FCA has reached...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Wealth managers

St James's Place results lay bare cost and charging challenges against market tumult

St James's Place results lay bare cost and charging challenges against market tumult

'Structural opportunity' for advice industry

Hope Coumbe
clock 28 February 2024 • 3 min read
SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

Open-ended structures 'have to work'

Valeria Martinez
clock 01 December 2023 • 2 min read
M&G launches full PruFund range on Wealth platform

M&G launches full PruFund range on Wealth platform

‘Greater flexibility and wider choice’

Valeria Martinez
clock 22 May 2023 • 1 min read
Trustpilot