FCA bolsters executive team in post-scandals restructure

Promised change in wake of LCF and Connaught reports

Mike Sheen
clock • 3 min read

The Financial Conduct Authority (FCA) has bolstered its executive team with four new hires as part of a planned overhaul in response to last year’s damning reports into the regulator’s handling of the London Capital & Finance (LCF) and Connaught fund scandals.

In December the FCA promised a raft of "significant and necessary changes" following the publication of the independent reports, which revealed significant failures in the regulator's handling of the multi-million pound scandals. Chief executive of the FCA Nikhil Rathi, who joined the regulator in October, said at the time that the reports had made "sobering reading", and he is "committed to implementing the recommendations and lessons learned". FCA hands £3.4m back to unauthorised investment scheme victims As part of the restructure, the regulator has now hired Stephanie Cohen as ...

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 Regulation

Industry questions where the blame lies for Woodford liquidity issues

Industry questions where the blame lies for Woodford liquidity issues

Reaction to FCA warning notice

Cristian Angeloni
clock 11 April 2024 • 3 min read
FCA to allow 'bundling' of investment research payments in regime overhaul

FCA to allow 'bundling' of investment research payments in regime overhaul

Response to Independent Research Review

Valeria Martinez
clock 10 April 2024 • 2 min read
FCA lays out 2024/25 fees and levies proposals with £755m planned spend

FCA lays out 2024/25 fees and levies proposals with £755m planned spend

To cover budget increase

Hope Coumbe
clock 09 April 2024 • 4 min read
Trustpilot