Dechert Supports Dame Elizabeth Gloster in her Independent Investigation into the Financial Conduct Authority’s Regulation and Oversight of London Capital & Finance Plc.

June 24, 2021

A Dechert LLP team supported the former Court of Appeal judge, the Rt. Hon. Dame Elizabeth Gloster DBE, in her independent investigation into the Financial Conduct Authority’s regulation and oversight of London Capital & Finance Plc. Dame Elizabeth was appointed to head the investigation on 10 July 2019 following the collapse of London Capital & Finance Plc which impacted over 11,000 retail investors who had invested over £230 million. There are ongoing criminal investigations by the Financial Conduct Authority (FCA) and the Serious Fraud Office into the circumstances of the collapse of the financial services company.

The independent team from Dechert LLP’s London office supporting Dame Elizabeth in carrying out the investigation included Head of Disputes in London, Dorothy Cory-Wright; financial services partner Richard Frase; John Bedford, partner in the contentious regulatory and investigations team; as well as partner Tim Bowden and associates Emma Ward, Jason Mbakwe, Sonali Sullivan-Mackenna, Lisa Borthwick, Craig Watson and Laura Manson.  

The independent investigation considered the FCA’s actions, policies and approach when regulating London Capital & Finance Plc between 1 April 2014 and 30 January 2019. Dame Elizabeth delivered her report to the FCA on 23 November 2020. On 17 December 2020, HM Treasury published Dame Elizabeth Gloster’s report and the FCA’s response to Dame Elizabeth’s report. On 24 June 2021, the Treasury Committee published its report on the FCA's regulation of London Capital and Finance plc. For further information please visit:

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