An independent investigation was launched today into the Connaught Income Fund Series 1, according to the UK regulator. The Financial Conduct Authority (FCA) review will consider the proportionality, appropriateness and effectiveness of the actions taken by the then Financial Services Authority (FSA, the FCA's predecessor) when supervising the fund series. The fund originally provided short-term financing to businesses in the UK property market. When one of those, Tuita International, fell into administration in 2012, the Connaught fund collapsed. Two other firms, Capita and Blue G...
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