Dame Elizabeth Gloster hits out at FCA over London Capital & Finance delays

Industry News | 26/08/20

The City watchdog has come under fire from a former Court of Appeal judge after its failings delayed her investigation into its role in a £237 million investment scandal.

Dame Elizabeth Gloster was appointed last year to undertake an independent inquiry into the Financial Conduct Authority’s handling of London Capital & Finance, a seller of high-risk minibonds that collapsed in January 2019.

She said yesterday that she had been forced to push back the deadline to complete her report to November 23 after the FCA disclosed a further 3,500 documents to her team that “should have been provided previously”. She has told Charles Randell, the chairman, it was “unacceptable” that the watchdog “is still identifying errors in its disclosure of documents to my team”.

Source: The Times