The governor of the Bank of England said he was "quite angry" at the suggestion he was among executives to ask to have his name removed from a report on the London Capital and Finance (LCF) scandal and that he took responsibility for the Financial Conduct Authority (FCA).
Speaking to MPs at a Treasury Select Committee session yesterday (8 February), the former chief executive of the FCA was responding to questions about the regulator's response to LCF, given that he was chief executive up until March 2020. According to Yahoo! Finance, Bailey said: "I take responsibility for all of the FCA. There's no question about that. "I don't want to in any sense suggest I'm not responsible for everything that happened at the FCA." Treasury and FCA needs to consider 'appropriate consequences' in LC&F scandal MPs told - reports LCF offered unregulated investm...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
