UK regulator probes collapsed mortgage lender

The UK's financial regulator has launched an investigation into the collapse of MFS, a mortgage lender based in Mayfair. This probe follows the failure of the company and associated entities owned by its founder, Paresh Raja. The investigation aims to ascertain the circumstances leading to the lender's insolvency and assess any potential misconduct. This action underscores the regulatory scrutiny applied to the financial services sector, particularly in the wake of firm failures, to protect consumers and market integrity.