Invesco under investigation by FCA over compliance controls

The Financial Conduct Authority (FCA) is investigating the US-based parent group of UK fund giant Invesco Perpetual over its past compliance with the regulator's rules.

In its 2013 annual report filed with the US Securities and Exchange Commission (SEC) last Friday, Invesco revealed the FCA is conducting an ongoing review of the company's compliance with its rules and regulations between May 2008 and November 2012. The annual report stated: "The company is cooperating fully with the FCA review and is seeking to resolve this investigation on a consensual basis, although there can be no assurance that the company's efforts to do so will succeed. The company believes that its current systems and controls now are adequate and in compliance with applicable r...