Further details of independent investigation were announced this morning, with barrister Raj Parker, who is leading the the independent investigation into the approach to, implementation and oversight of the fund, revealing that his probe is now up and running and is inviting affected individuals to get in touch.
The review will consider the “proportionality, appropriateness and effectiveness” of the actions taken by the Financial Services Authority (FSA) and later the FCA when supervising Tiuta, Capita and Blue Gate.
Mr Parker said: “As part of this independent review, I will be investigating the regulators’ approach to and response to intelligence, as well as the FCA’s involvement in the mediated negotiations before the launch of enforcement investigations in March 2015.
“I will also look at whether the regulator’s jurisdiction at the time impacted its ability to protect consumers and whether its approach to communications with investors in the fund was appropriate, timely and transparent.
“An assessment of the FSA/FCA’s actions and any lessons to be learned will be made publicly available.
“I am keen to hear from anyone who has been affected and would encourage them to email any relevant information to me.”