Eight MPs call on Chancellor to investigate FCA's WealthTek crackdown

Allegations of neglect

Eight MPs have called on Chancellor Rachel Reeves to look into the Financial Conduct Authority’s (FCA) investigation into fallen platform WealthTek.

The letter, sent on 8 August by Conservative MP Kevin Hollinrake and co-signed by seven others, urged Reeves to commission an investigation into the "deeply concerning" allegations made against the regulator in relation to the collapsed WealthTek. It highlighted recent reports that the FCA allegedly neglected to act on a whistleblower's claim of potential fraud for more than two years. FCA puts focus on WealthTek criminal investigation "As you will appreciate, our financial system relies on having an effective and vigilant regulator," the letter to Reeves stated. Hollinrake high...