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Fallout from Midas Financial’s collapse exposes UK regulation as flawed, lawmaker says

By Phoebe Seers ( March 23, 2022, 16:24 GMT | Insight) -- The UK financial markets watchdog failed investors in its handling of the collapse of Midas Financial Solutions, a Ponzi scheme that cost hundreds of people millions of pounds, a lawmaker has complained. Alistair Carmichael yesterday urged the government to reconsider financial services regulation, which he said was too complicated and focused on protecting the regulator instead of the consumer. The UK financial markets watchdog failed investors in its handling of the collapse of Midas Financial Solutions, a Ponzi scheme that cost hundreds of people millions of pounds, a lawmaker has complained....

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