Andrew Bailey, now governor of the Bank of England, ran the Financial Conduct Authority at the timeThe City watchdog has come under fire from MPs for failing to hold itself to the same standards that it demands of the companies it regulates in the fallout from the £237 million London Capital & Finance scandal. The Commons’ treasury committee warns in a report today that the reputation of the Financial Conduct Authority could be affected by an “over-reliance on collective responsibility” in its handling of the debacle. Sponsored“We are not wholly persuaded that the balance struck by the FCA on this occasion has strengthened its standing in the eyes of those it regulates or the wider public,” MPs on the committee have concluded. The collapse of LCF almost two and a half years ago is one of the biggest investment scandals of

Source: The Times June 23, 2021 22:52 UTC