Rumours are rife that Keydata founder Stewart Ford is about to sue the FCA for £371m.

It would appear that Ford wrote to the FCA last week warning the regulator that he planned to begin a legal action against them in order to recover losses he claims he incurred due to his investment company closing.

Ford is currently facing disciplinary proceedings by the FCA which might see him fined, or banned over the Keydata affair. At the heart of the investigation is the alleged ‘misappropriation’ of assets worth £100m.


It is said that the FCA refused to comment, because Mr Ford is currently under review by their officers.

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