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FCA faces further criticism over LCF scandal

The City regulator is facing new criticism from an independent commissioner over its handling of the £237m London Capital & Finance investment scandal.

The financial regulators complaints commissioner, Amerdeep Somal, has been investigating decisions the Financial Conduct Authority made in the fallout from the affair.

She circulated a confidential 151-page preliminary report with her findings to both the FCA and complainants last week.

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