Source · Select Committees · Treasury Committee

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

Treasury Committee HC 149 Published 24 June 2021

Report Status

Government responded

Conclusions & Recommendations

38 items (22 recs)

Source

View on Parliament website ↗

Government Response

AI assessment · 38 of 38 classified

Accepted 10

Accepted in Part 1

Acknowledged 9

Deferred 1

Not Addressed 17

Government response

Second Special Report: The Financial Conduct Authority's Regulation of London Capital & Finance plc: responses to the Committee's Fourth Report of Session 2021-22 · published 13 Sep 2021

Read the government response ↗ Response on the Index

Recommendations & Conclusions

1 item

29 Recommendation Accepted in Part

Para 159

We note that there are other ongoing discussions and channels by which LCF bondholders can...

Recommendation

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 Summary

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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