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Collapse of London Capital and Finance shows financial regulation system is not working effectively – John McDonnell

Shadow Chancellor John McDonnell MP, commenting on collapse of London Capital and Finance, said “Many of the people who put their life savings into these investments will be asking the question where was the regulator?

“Labour is reviewing the whole system of financial regulation to ensure consumers are properly protected.

“It is starkly clear that the current system is not working effectively.”