June 24, 2020 / 6:18 AM / 14 days ago

UK watchdog investigates audits of London Capital & Finance

LONDON, June 24 (Reuters) - Britain’s accounting watchdog said on Wednesday it has started three investigations into audits of London Capital & Finance, the investment firm that collapsed in 2019 and left 11,600 investors facing losses of up to 237 million pounds ($297 million).

The Financial Reporting Council said the first investigation will look at a one-month period that ended April 30, 2015, which was audited by Oliver Clive & Co.

The second investigation covers the year ended 30 April, 2016, which was audited by PwC, and the third probe looks at the year ended 30 April, 2017, audited by EY.

$1 = 0.7993 pounds Reporting by Huw Jones; editing by Jason Neely

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