The Financial Conduct Authority (FCA) notes the statements issued this morning by Quindell PLC. The FCA can confirm that it has commenced an investigation into Quindell PLC under the Financial Services and Markets Act 2000 in relation to public statements made regarding Quindell’s financial accounts during 2013 and 2014.
The FCA will liaise with other agencies regarding these matters as appropriate.
Given the existence of an investigation, we will not be providing further comment.
Background
- On 1 April 2013, the FCA became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA). On 1 April 2014, the FCA took over responsibility for consumer credit regulation.
- The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
- Find out more information about the FCA.
