FCA to conduct investigation into Yü Group

Yü Group CEO, Bobby Kalar

Yü Group, the Nottingham-headquartered supplier of gas and electricity to the UK corporate sector, is to be investigated by the Financial Conduct Authority (FCA).

The FCA intends to conduct an investigation into the Group to review the accuracy of the it’s announcements made between 6 March 2018 and 24 October 2018, and whether these announcements accurately reflected the Group’s financial status.

A statement from Yü Group says: “The Group plans to work collaboratively with and cooperate fully with the FCA in its enquiries.”

The news comes after an internal review of the performance of the firm revealed several areas of concern which would lead to around a £10 million reduction in profitability.