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FCA fines PwC £15M for failing to alert regulator about suspected fraudulent activity at LCF

PwC encountered significant issues throughout their 2016 audit of London Capital & Finance plc (LCF).

To date, the Serious Fraud Office (SFO) has received over 3,750 completed questionnaires by investors in London Capital & Finance (LCF).

Because of the amount of data the FSCS needs to review, it does not expect to complete the LCF review process before the end of December.