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FCA re-files accounts after complaint about clarity

The FCA has re-filed its annual accounts after a complaint over their legibility, The Times reports.

After a bricklayer, Clive May, based in Mold in Flintshire, raised concerns about how clear the accounts were to Companies House, the corporate registrar service invited the regulator to submit an update version of its accounts to March 31 2018.

According to The Times, May took issue with “hastily penned in corrections by persons unknown”, including handwritten notes and edits on capital expenditure and lease arrangements, as well as an October update to board members’ outside commercial relationships that added two new paragraphs of information – claiming that these lowered his confidence in how accurate the filings were.

The Times quotes an FCA spokesman confirming the regulator had “agreed to submit another version” but had not contravened any rules around filing.

After discussions with Companies House, a printed version of the accounts was uploaded last week, The Times understands.

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. A bricklayer?

    That aside, one wonders what the FCA would do to any IFA firm found to have submitted similarly botched regulatory returns.

  2. So much for the alleged oversight of the NAO. Nothing but a hollow and token sham.

    • Having looked at the accounts in question this is really a storm in a tea cup. There are some handwritten amendments to the accounts which could be deemed unclear but they do not amount to incorrect information. The newly submitted accounts are exactly the same just typewritten.

      The NAO stamped each page of the accounts, literally.

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