Hundreds of City firms at risk of collapse because of Covid, FCA warns

UK financial watchdog also criticised social media companies for allowing investment scam ads on their platforms

Britain’s financial watchdog has warned that hundreds of small and medium-sized City firms are at risk of collapse due to the economic pressures of the Covid-19 crisis.

The Financial Conduct Authority also said it was concerned about the impact of home working during the pandemic, and that companies may struggle to supervise workers in highly-regulated jobs, like trading, over the long-term.

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