||<p>I was very sorry to hear about the difficulties faced by investors in the Connaught
Income Fund Series 1 and hope that the Financial Conduct Authority (FCA) are able
to finalise their investigation promptly.<br> <br> On 10 March, the FCA provided an
update on proceedings which can be found here:</p><p><br> <a href="https://www.fca.org.uk/news/fca-statement-on-connaught"
The FCA is operationally independent from Government and carries out its functions
within the framework of statutory objectives and duties agreed by Parliament. In view
of the FCA’s independence it would not be appropriate for the Treasury to comment
further on this ongoing investigation.</p>