Raj Parker, the Independent Reviewer into the FSA/FCA’s approach to the Connaught Income Fund Series 1, announces that the Review’s initial call for information has now closed.
The announcement follows a call for information from individuals affected by the Fund to ensure that a range of stakeholders were able to formally contribute their views to assist him in assessing the FSA/FCA’s actions and identifying any lessons which should be learned.
While this formal call for information has now finished, the Independent Reviewer has said that he is happy to continue receiving any information and concerns from relevant affected stakeholders. Those who wish to make a submission should do so by email to: [email protected].
Commenting on the closure of the call for information, Mr Parker said:
‘I would like to thank all those who have contributed for their submissions. Their information is incredibly useful as myself and the team seek to assess the FSA/FCA’s actions and identify the right lessons which need to be learned.
‘However, I would also like to reassure all those who weren’t able to contribute that they can still make their views known. I welcome anyone affected by or involved with the Fund who wishes to still contribute to the Review, to contact us by email.’
The Independent Reviewer will continue to consider all requests for oral representations with stakeholders on a case-by-case basis, but it is expected that these will only need to occur in exceptional cases.
Notes to editors
How to respond
- Please send email responses to [email protected]
- Please be sure to include full name, telephone number and email address.
- Responses should be limited to the matters which fall within the scope of the Review, as set out at paragraph 4 of the Terms of Reference, and for each part of any response to identify the issue(s) in the Terms of Reference to which they relate.
- All emails received will be reviewed and considered, however we cannot guarantee all substantive questions or issues will be responded to individually.
- The Terms of Reference may be found here - https://www.fca.org.uk/publication/corporate/terms-of-reference-connaught-income-fund-series-one-connected-companies.pdf
- This email address will only be accessed by Raj Parker and his independent team
About the Review
- The FCA Board committed to a review in 2016, following the Complaints Commissioner’s recommendation.
- The Independent Review will consider the proportionality, appropriateness and effectiveness of the actions taken by the Financial Services Authority (FSA) and later the Financial Conduct Authority (FCA) when supervising Tiuta, Capita and Blue Gate.
- It looks at the FSA/FCA’s approach to and response to intelligence, plus the approach to and involvement in the mediated negotiations before the launch of enforcement investigations in March 2015.
About the Reviewer
Raj Parker is an Associate Member at Matrix Chambers and a part-time judge and arbitrator. He has conducted many investigations into governance and conduct issues in many different sectors for over 30 years. He has extensive experience in financial markets and regulatory investigations. Before joining Matrix he was a Partner at Freshfields for 23 years, where he specialised in international commercial and financial services dispute resolution.