• Terms of Use
  • Cookie Policy
  • Privacy Policy
  • Archives
Friday, December 6, 2019
Accountancy Today
ADVERTISE
  • All News
  • Business
    • All
    • Business Recovery
    • Companies
    • Corporate Finance
    • Crime
    • People Moves
    Mazars appoints Nigel Layon as new partner

    BHP appoints Joanne Powell as new tax partner

    Johnston Carmichael makes four additions to its leadership team

    Johnston Carmichael makes four additions to its leadership team

    PwC appoints Fiona Kendrick as PIB chair

    PwC appoints Fiona Kendrick as PIB chair

    Grant Thornton names ‘leading customer experience’ businesses in finance

    Grant Thornton expands forensic and investigations service

    Thomson Snell & Passmore appoints new corporate tax consultant

    Thomson Snell & Passmore appoints new corporate tax consultant

    BLK appoints Fran Reid as director of client services

    BLK appoints Fran Reid as director of client services

    Begbies Traynor appoints Neil Cronshaw to creditor services role

    Begbies Traynor appoints Neil Cronshaw to creditor services role

    Chiene + Tait appoints Lena Wilson as chairman

    Chiene + Tait appoints Lena Wilson as chairman

    Total company insolvencies rise to highest level since 2014 in Q3

    AAB promotes 58 team members across Scotland   

  • Practice
    • All
    • Accounting Firms
    • Audit
    • Big Four
    • Consulting
    Toto Energy appoints KPMG as administrator

    KPMG Aberdeen moves amid further growth

    AJ Bell drops KPMG in favour of BDO

    BDO global revenues reach $9.6bn

    Crunch launches new IR35 support tool

    Crunch launches new IR35 support tool

    UK financial services facing ‘talent crisis’, says KPMG

    KPMG UK launches new ‘audit only’ apprenticeship

    EY announces acquisition of AgilityWorks

    EY announces acquisition of AgilityWorks

    Grant Thornton names ‘leading customer experience’ businesses in finance

    Grant Thornton names ‘leading customer experience’ businesses in finance

    Johnston Carmichael sees 20% growth in new audit and assurance wins

    Johnston Carmichael sees 20% growth in new audit and assurance wins

    Cowgills expands after delivering deals over £100m

    Cowgills expands after delivering deals over £100m

    Toto Energy appoints KPMG as administrator

    Corporate level liquidity risk named number one regulatory concern

  • Regulation
    • All
    • Accounting Standards
    • Business Regulation
    • Legal
    • Practice Regulation
    • Regulators
    Accountant sentenced for theft of £44,000

    FCA fines ex-insurance firm CEO over tax avoidance

    IASB proposes annual improvements to IFRS Standards

    IAASB seeking comments on ISA amendments

    UKFIU: Record number of SARs helped to stop £131m of money laundering

    UKFIU: Record number of SARs helped to stop £131m of money laundering

    IASB proposes annual improvements to IFRS Standards

    74% of organisations are not ready for new IR35 rules, research finds

    Independent inquiry into London Capital & Finance announced

    Gov pledge to name and shame tax dodgers is failing, says TaxWatch

    SMEs ‘underprepared’ for major tax changes

    Deloitte partner fined £120,000 by FRC over Serco ‘misconduct’

    CIMA announces changes to ‘Code of Ethics’

    CIMA announces changes to ‘Code of Ethics’

    KPMG appointed as Thomas Cook administrators

    Auditors ‘complicit’ in company failures, Thomas Cook inquiry says

    IASB proposes annual improvements to IFRS Standards

    FRC should have more ‘power’ and ‘teeth’, study finds

  • Tax
    • All
    • Administrations
    • Corporate
    • Personal
    • VAT
    Ascential deploys Thomson Reuters Onesource

    Ascential deploys Thomson Reuters Onesource

    OECD’s Global Forum reports success in fighting offshore tax evasion

    OECD’s Global Forum reports success in fighting offshore tax evasion

    FRP Advisory begins negotiations over Bonmarché

    FRP Advisory begins negotiations over Bonmarché

    ICAEW ‘encouraged’ by gov MTD announcement

    UK’s largest companies generated £85bn in tax, report finds

    UKFIU: Record number of SARs helped to stop £131m of money laundering

    Taxes at highest sustained level since 1940s, says IFS

    IASB proposes annual improvements to IFRS Standards

    Pension tax regime ‘must be simplified’, ACA survey finds

    IASB proposes annual improvements to IFRS Standards

    74% of organisations are not ready for new IR35 rules, research finds

    Renold investigation reveals accounting error adds up to £2.5m

    R&D tax relief claims rise by over 20%

    Facebook paid only £28m tax on record £1.6bn UK revenues in 2018

    Facebook paid only £28m tax on record £1.6bn UK revenues in 2018

  • Tech
    Xero appoints Jamie McDonald to lead accounting services

    Xero UK revenues up 51% as it reaches 536,000 subscribers

    Travel agent On the Beach appoints EY for audit

    EY and Stratio BD form AI alliance

    Travel agent On the Beach appoints EY for audit

    EY announces solution designed to help gauge impact of AI

    Travel agent On the Beach appoints EY for audit

    EY named leader in ‘global digital business transformation’

    AAB joins Float partnership programme

    AAB joins Float partnership programme

  • Features
  • Network
  • Contact
  • Media Information
ADVERTISE
No Result
View All Result
Accountancy Today
No Result
View All Result
Home Latest News Regulation Business Regulation

Independent inquiry into London Capital & Finance announced

Independent inquiry into London Capital & Finance announced

Lewis Catchpole by Lewis Catchpole
3rd April 2019
in Business Regulation
2 min read
Independent inquiry into London Capital & Finance announced
8
SHARES
Email PostShareTweet

An independent investigation into events at London Capital & Finance (LC&F) and the circumstances surrounding them has been ordered by the City Minister today (1 April).

The news comes following a meeting of the Financial Conduct Authority (FCA) board where they agreed that there is a public interest in a statutory investigation, and the economic secretary to the Treasury, John Glen, has agreed to use powers under the Financial Services Act 2012 to require the FCA to undertake an investigation into the events at LC&F and the circumstances surrounding them.

The investigation will be led by an independent person appointed by the FCA, with the approval of the Treasury. In January LC&F went into administration owing £236m to around 11,000 investors. This followed concerns raised by the FCA back in December 2018, when the regulator demanded it  withdrew its promotional material for its mini bonds due to the marketing was ‘misleading, not fair and unclear’.

Glen said: “The recent stories of those affected by the collapse of LC&F are incredibly concerning. I want to make sure we have the strongest and safest financial system possible. By ordering this investigation, we will better understand the circumstances around the collapse and make sure we are properly protecting those who invest their money in the future.”

Separately, the FCA announced it had already started an investigation into LC&F’s financial promotions. The Serious Fraud Office, working in conjunction with the FCA, has also opened an investigation into individuals associated with LC&F.

The detailed direction that will order the independent investigation and set out its terms will take into account any issues arising, including from current regulatory and enforcement investigations, and be determined in consultation with the independent person appointed to lead it.

The direction and the investigation’s report will be laid before Parliament.

TRENDING COMMENT

How to Create a High-Quality SAR
Features

How to Create a High-Quality SAR

by Jasdip Sensi
5th December 2019
3 Business Development Strategy Tips For Your Accounting Firm
Features

3 Business Development Strategy Tips For Your Accounting Firm

by Michael Northcott
4th December 2019

LATEST HEADLINES

Toto Energy appoints KPMG as administrator
Big Four

KPMG Aberdeen moves amid further growth

by Heather Sandlin
5th December 2019

KPMG Aberdeen has announced plans to relocate to a multi-million pound development. Next Spring, its team will relocate from...

AJ Bell drops KPMG in favour of BDO

BDO global revenues reach $9.6bn

5th December 2019
Mazars appoints Nigel Layon as new partner

BHP appoints Joanne Powell as new tax partner

5th December 2019
Johnston Carmichael makes four additions to its leadership team

Johnston Carmichael makes four additions to its leadership team

5th December 2019
Load More
Accountancy Today

Mulberry Media is an independent media company creating and engaging high-value B2B audiences across print, online, apps and events.

SEARCH ACCOUNTANCY TODAY

No Result
View All Result

CATEGORIES

Accounting Firms Accounting Standards Administrations Advice & Best Practice Audit Big Four Brexit Business Business Recovery Business Regulation Comment Companies Consulting Corporate Corporate Finance Crime Economy Features HMRC Latest News Legal People Moves Personal Practice Practice Regulation Regulation Regulators Tax Tech Tips Uncategorised VAT

Our Media Brands

  • Hotel Owner
  • Jewellery Focus
  • Retail Sector
  • Pet Gazette
  • Catering Today
  • Funeral Service Times
  • Estate Agency Now

Copyright © 1997 - 2019 Mulberry Publications Ltd. All rights reserved.

No Result
View All Result
  • Business
  • Economy
  • Practice
  • Regulation
  • Tax
  • Tech

Copyright © 1997 - 2019 Mulberry Publications Ltd. All rights reserved.

This website uses cookies to measure our traffic, manage email subscriptions and operate our paywall. You cannot switch off these cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Policy and Cookie Policy for more information.