Ex-FCA chief Andrew Bailey tells MPs he wishes he could have spared suffering of those who lost money
The governor of the Bank of England has told MPs that he takes responsibility for regulatory failings over the £237m London Capital & Finance investment scandal, and that he wished he could have spared the “suffering” of those who lost money.
Andrew Bailey, who was formerly the chief executive of the Financial Conduct Authority (FCA), also revealed that he did not know about LC&F “until pretty much the point it was closed down” by the City regulator.
