In the light of the Serious Fraud Office (SFO) decision to launch an investigation into this matter, and following consultation with the SFO, the Financial Conduct Authority has decided to discontinue its own investigation with immediate effect.
Background
- On 1 April 2013 the FCA became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA).
- The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
- Find out more information about the FCA.