Treasury and FCA must consider 'appropriate consequences' in LC&F scandal - reports

BoE governor Bailey named in report

The author of the report into the collapse of London Capital & Finance (LC&F) has told MPs that it is up to the Treasury to consider the "appropriate consequences" for three individuals named in her report on the mini-bonds scandal, including Bank of England (BoE) governor Andrew Bailey.

Bailey was chief executive of the Financial Conduct Authority (FCA) at the time of the savings scandal, leaving the regulator in March 2020 to take up the job at the BoE. Dame Elizabeth Gloster delivered her report on the regulation of LC&F on 23 November last year. London Capital & Finance investors start legal battle for payout - reports The Guardian reported that in the first of a series of evidence sessions yesterday (1 February), Gloster told MPs on the Treasury Select Committee: "Those who are, or I hope will be, informed by my report will need to consider what are the approp...