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Britain’s financial watchdog must act faster in fraud cases, says boss

Britain’s financial watchdog must act faster on scams, its chair said on Monday as he announced that senior officials face pay cuts and no bonuses following criticism of the regulator’s role in the collapse of London Capital & Finance (LCF) investment fund.

Britain’s financial watchdog must act faster in fraud cases, says boss
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Financial Conduct Authority (FCA) Chair Charles Randell said the watchdog’s officials were too worried that challenging a company could lead to the regulator being sued.

Read more at RiskScreen.

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