FCA drops probe into scandal-hit Home REIT

The City watchdog has dropped its investigation into Home REIT, two years after opening a probe into the stricken property firm. The Financial Conduct Authority (FCA) has said it intends to take no further action against the firm, according to a statement released by Home REIT on Wednesday. An investigation into the former London-listed social housing company was launched by the FCA in 2024, after the firm became involved in a series of major scandals, including some of its biggest tenants going bust. Home REIT was also repeatedly forced to offload chunks of its portfolio in attempts to raise cash and pay off debts. The regulator s probe covered a period from 22 September 2020 to 3 January 2023. “Following our extensive cooperation with the FCA’s investigation, we are pleased to announce that it has closed its investigation and intends to take no further action against the company,” said Michael O’Donnell chairman of Home REIT. The FCA was contacted for comment. Home