FCA scraps exec bonuses and cuts pay after LCF fiasco
- Monday, 01 March 2021
- Articles
The FCA has scrapped performance-related pay and bonuses for senior FCA executives and is to cut average salaries for executive committee members this year following the £236m collapse of mini-bond provider London Capital & Finance.
Read more...LCF pay-outs top £56m as claims process nears completion
- Thursday, 18 February 2021
- Articles
The Financial Services Compensation Scheme reported today that it has paid out just over £56.3m in compensation to 2,878 customers of collapsed mini-bond firm London Capital & Finance (LCF).
Read more...Editor’s Column: Could LCF have been spotted earlier?
- Friday, 12 February 2021
- Articles
There is little doubt that in 2018 the FCA’s call centre was in a mess. Demoralised, poorly trained staff were inundated with a barrage of calls from consumers, some of them angry and abusive, even racist and homophobic.
Read more...Nicola Watts: LCF, the FCA and the FSCS – what a debacle!
- Wednesday, 10 February 2021
- Comment
Monday saw a grilling of Andrew Bailey, former CEO of the FCA, by Treasury Committee MPs regarding missed opportunities for the early detection of problems at the failed mini-bond provider London Capital & Finance.
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