An £18.6m fine for fund management firm Invesco Perpetual could prove a tad embarrassing for the recently appointed Treasury minister, Andrea Leadsom. The FCA found that the company repeatedly and continually broke rules limiting risks for investors and failed to disclose the use of derivatives that subsequently multiplied the risks.

Awkward then, that for ten years, and during the period of abuse cited by the FCA, Leadson was senior investment officer and head of corporate governance for the whole of the company. Recently, bemoaning “the collapse of trust in our financial services sector” in the press, it now transpires she presided over it. You couldn’t make it up.

I’m Carl - my phone isn’t smart, I’ve never sent a tweet, I'll never pose for a selfie, and I’m not my son's friend on Facebook. In fact, I’m no-one’s friend on Facebook. I read, I digest and I regurgitate with my spin on the things that matter. To me.

Notify me when Carl has posted another rant:

Leave this field empty if you're human:

If you’ve found my blog interesting or useful, please donate a tib to the charity ‘Stay Close to Neve’.

Tibit: The token of your appreciation online