Policy paper
Outcome of investigation into the FCA鈥檚 regulation and supervision of LCF
Written Ministerial Statement on the publication of the final report of the Independent Investigation into the Financial Conduct Authority鈥檚 regulation and supervision of London Capital & Finance plc.
This was published under the 2019 to 2022 Johnson Conservative government
Documents
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Details
Following a request from the FCA鈥檚 Chair Charles Randall, the Economic Secretary to the Treasury directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events relating to the regulation of London Capital & Finance plc (LCF).
On 23 November 2020, Dame Elizabeth, in accordance with her revised timeline, delivered her final written report to the FCA. The government laid Dame Elizabeth鈥檚 report and the FCA鈥檚 written response before Parliament on 17 December 2020. In accordance, with section 82 of the Financial Services Act 2012 the Government also laid a statement summarising the reasons for very limited redactions to the report.
The Economic Secretary to the Treasury made a Written Ministerial Statement to the House on 17 December setting out the government鈥檚 response.
The Economic Secretary also wrote to the Chief Executive of the FCA concerning the FCA鈥檚 Transformation Programme.
The written statement, documents relating to the investigation, and exchange of letters have been published today:
- Report of the Independent Investigation
- The FCA鈥檚 Response
- Section 82 Statement
- EST letter to Chief Executive of the FCA Nikhil Rathi
- Chief Executive of the FCA letter to EST
Updates to this page
Published 17 December 2020