FCA bolsters executive team in post-scandals restructure

Promised change in wake of LCF and Connaught reports

The Financial Conduct Authority (FCA) has bolstered its executive team with four new hires as part of a planned overhaul in response to last year’s damning reports into the regulator’s handling of the London Capital & Finance (LCF) and Connaught fund scandals.

In December the FCA promised a raft of "significant and necessary changes" following the publication of the independent reports, which revealed significant failures in the regulator's handling of the multi-million pound scandals. Chief executive of the FCA Nikhil Rathi, who joined the regulator in October, said at the time that the reports had made "sobering reading", and he is "committed to implementing the recommendations and lessons learned". FCA hands £3.4m back to unauthorised investment scheme victims As part of the restructure, the regulator has now hired Stephanie Cohen as ...