Regulators form working group to tackle 'phoenix' companies
Financial services regulators have formed a working group to collaborate on tackling ‘phoenixing’ in the sector, whereby companies or individuals avoid liabilities or penalties by shutting down businesses only to re-emerge as new legal entities.
The Financial Services Regulatory Partners Phoenixing Group was convened on last week by the Financial Conduct Authority, which has been joined by the Financial Services Compensation Scheme, the
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