FSCS Statement on London Capital & Finance Claims

By J Drew -
The FSCS has today announced that they will not be accepting claims relating to London Capital & Finance as the issue of mini-bonds is not a regulated activity. However they do say that if there are circumstances that give rise to potential claims they will update their website.

https://www.fscs.org.uk/news/2019/march/london-capital--finance-plc-has-failed/ 



FSCS understands that the firm issued its own mini-bonds to investors on a non-advised basis. This activity is not a regulated activity under the Regulated Activities Order and, therefore, is not FSCS-protected. For this reason, while the firm is insolvent, we’re not accepting claims against the firm.
Should we determine that there are circumstances that give rise to potentially valid claims, we’ll begin to accept claims against London Capital & Finance plc. If this happens, we’ll communicate this to customers on our website



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