Financial Conduct Authority probes collapsed lender MFS

The Financial Conduct Authority has launched an enforcement investigation into Market Financial Solutions, a collapsed mortgage lender, following allegations of financial irregularities and mismanagement. The collapse of MFS has left creditors facing a shortfall of over £1.3 billion. Barclays, Santander, Jefferies, Elliott Management, and Apollo-affiliated Atlas SP Partners are among the lenders exposed to MFS.