London-listed Investment Trust Criticizes FCA for Failure to Address Hedge Fund Raider Saba Capital

The chairman of Edinburgh Worldwide Investment Trust blasts the Financial Conduct Authority for failing to tackle US hedge fund raider Saba Capital. The trust is offering investors the chance to cash out rather than fall into Saba's clutches. The chairman argues that the FCA's inaction allows minority shareholders to impose new boards using tactics that are often in conflict with the majority of shareholders.