FT – FCA branded incompetent and dishonest by MPs’ report

The FT says The Financial Conduct Authority is “incompetent at best, dishonest at worst”, according to a scathing report by MPs and peers that calls for a major overhaul of the watchdog. An almost three-year examination of the FCA, which collected evidence from 175 fraud victims, whistleblowers and former employees of the watchdog, found it was suffering from “very significant shortcomings”.