The Financial Conduct Authority’s Regulation of London Capital & Finance plc

Treasury Committee Closed Inquiry
Opened: 1 Feb 2021 Closed: 20 Jan 2022 Parliament page
22 Recommendations
16 Conclusions
1 Report
6 Letters
5 Events
Activity timeline 8 events
20 Oct
2021
Correspondence
13 Sep
2021
Report published
24 Jun
2021
Report published
24 May
2021
Correspondence
19 May
2021
Correspondence
19 May
2021
Correspondence
28 Apr
2021
Correspondence
9 Feb
2021
Correspondence
Title HC No. Published Items Response
Fourth Report - The Financial Conduct Authority’s Regulation of … HC 149 24 Jun 2021 38 Responded
Recommendations & Conclusions
1 result
Clear
29 Recommendation Accepted in Part
Fourth Report - The Financial Cond…
We note that there are other ongoing discussions and channels by which LCF bondholders can...
We note that there are other ongoing discussions and channels by which LCF bondholders can seek compensation, such as through the FCA complaints scheme 52 The Financial Conduct Authority’s Regulation of London Capital & Finance plc and through LCF administrators. … Read more
Government Response
The Treasury is ensuring the LCF compensation scheme is coordinated with the administration process and the FCA complaints scheme. While acknowledging issues with the FCA's complaints handling, the government notes the FCA's improvement plans and commits to monitoring their delivery, stating the scheme's design is a matter for independent regulators.
HM Treasury
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Government Response AI assessment · 38 of 22 classified
Accepted 10
Accepted in Part 1
Acknowledged 9
Deferred 1
Not Addressed 17
Total 22 recs + 16 conclusions
Correspondence 6 letters
20 Oct 2021 From committee Letter to the Chair from the Chief Executive of the FCA, regarding the TSC report on LCF, dated 30 September 2021
Parliament page
24 May 2021 From committee Letter to the Chair from the FCA Chief Executive relating to independent reviews
Parliament page
19 May 2021 To committee Letter from the Chair to the Economic Secretary to the Treasury, relating to London Capital & Finance
Parliament page
19 May 2021 To committee Letter from the Economic Secretary to the Chair relating to London Capital & Finance
Parliament page
28 Apr 2021 To committee letter from the Economic Secretary to the Chair, relating to the session the Committee held on Wednesday 21 April
Parliament page
9 Feb 2021 From committee Letter to Chair from Rt Hon Dame Elizabeth Gloster regarding independent investigation into FCA's regulation of London Capital and Finance plc, dated 8 February 2021
Parliament page