Eight MPs have written to chancellor Rachel Reeves asking her to investigate how the FCA handled a whistleblower complaint brought against collapsed discretionary fund manager (DFM) WealthTek two years before its collapse.
WealthTek collapsed in 2023, leaving behind an 81m shortfall in client money. A criminal investigation is currently taking place into WealthTek.
The letter, whose signatories include former Brexit secretary David Davis, raises the prospect of paying compensation to investors who have suffered losses.
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