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                London Capital & Finance

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                • Wednesday, 17 May, 2023
                  Serious Fraud Office UK
                  Ex-boss of London Capital & Finance given 10-month suspended jail sentence

                  Andy Thomson convicted of contempt as part of probe into investment scandal

                  Southwark Crown Court
                • Friday, 3 December, 2021
                  Isas
                  HMRC eyes hefty fines for Isa rule breaches

                  Review follows the collapse of minibond company LCF

                • Wednesday, 23 June, 2021
                  Financial Conduct Authority UK
                  FCA criticised for lack of accountability in LCF scandal

                  MPs rebuke UK watchdog over handling of £237m collapse of mini-bond issuer

                • Monday, 19 April, 2021
                  Personal Finance
                  LCF investors in line for £120m government compensation

                  Treasury to pay bondholders who lost savings when minibond company collapsed

                  LCF was authorised by the UK financial regulator but the products it sold were high-risk and unregulated meaning the bulk of customers, who invested £237m in total, were unable to seek compensation from the FSCS
                • Friday, 26 March, 2021
                  Andrew Bailey refuses to back down in row with former judge over LCF

                  Letters released on Friday show dispute between BoE governor and Dame Elizabeth Gloster simmers on

                • Thursday, 25 March, 2021
                  Financial Conduct Authority UK
                  UK regulator ‘didn’t understand’ effect of loophole on investors being exploited in LCF scandal

                  Senior executive admits to failings over policing ‘toxic interface’ between regulated and unregulated activities

                  Megan Butler, director of supervision at FCA
                • Tuesday, 9 March, 2021
                  Andrew Bailey
                  MPs demand answers from Bank of England governor on LCF ‘contradictions’

                  Treasury committee tells Andrew Bailey to clarify whether he pressed former judge to remove his name from report into scandal

                • Monday, 1 March, 2021
                  Financial Conduct Authority UK
                  FCA executives face pay cuts for LCF failings

                  Head of UK watchdog also cuts bonuses over handling of collapsed minibond issuer London Capital & Finance

                • Tuesday, 9 February, 2021
                  Judge disputes Bailey account of why he asked not to be named in LCF probe

                  BoE head allegedly misrepresented his reasons to MPs about his attempts to have name removed from Gloster report

                • Monday, 8 February, 2021
                  Andrew Bailey
                  Bailey ‘angry’ at inquiry head’s criticisms over LCF scandal

                  BoE governor tells MPs Dame Elizabeth Gloster was wrong and his apology was misrepresented

                • Monday, 1 February, 2021
                  UK financial regulation
                  Bailey under fire for FCA failures over LCF collapse

                  Inquiry head tells MPs current BoE governor did not provide ‘adequate reason’ for lack of protection for investors

                • Friday, 22 January, 2021
                  Financial Services Compensation Scheme Ltd
                  Financial scam compensation bill to cost £1bn next year

                  Rise of 48% in FSCS levy for 2021-22 prompts calls for government action

                • Tuesday, 19 January, 2021
                  Investments
                  London Capital & Finance investors entitled to payouts, court told

                  Judicial review begins into lifeboat fund’s decision to compensate only fifth of customers

                • Sunday, 20 December, 2020
                  The FT ViewThe editorial board
                  Lessons from an investment scandal

                  The FCA should take to heart the failings exposed by the LCF collapse

                • Thursday, 17 December, 2020
                  UK financial regulation
                  FCA did not ‘effectively supervise’ collapsed mini-bond issuer LCF, says report

                  Bondholders ‘were entitled to expect, and receive, more protection’ from UK financial regulator

                • Friday, 11 December, 2020
                  High-risk mini-bonds banned by regulator

                  FCA makes temporary sanction permanent from January, after London Capital & Finance collapse.

                • Friday, 28 August, 2020
                  Mini-bonds
                  FCA tests investigator’s patience with delayed disclosures

                  Former judge leading probe into handling of LCF scandal tires of regulator’s hold-ups

                • Tuesday, 7 July, 2020
                  Due Diligence
                  Bookkeeping: auditors in the crossfire Premium content

                  The UK’s Big Four accounting firms have until 2024 to separate their audit practices

                • Wednesday, 24 June, 2020
                  LexAccountancy
                  London Capital & Finance: scrutinising the scrutineers Premium content

                  Accountancy regulator Financial Reporting Council announces probe into auditing.

                • Tuesday, 23 June, 2020
                  Accountancy
                  London Capital & Finance auditors face inquiry over mini-bond scandal

                  Three firms signed off books with clean bill of health before LCF went into administration

                • Thursday, 18 June, 2020
                  Financial & markets regulation
                  UK regulator permanently bans marketing of mini bonds

                  High-risk products were at centre of London Capital & Finance scandal

                  Investors are waiting to see whether a report into the FCA’s role prompts the government to act, or justifies legal claims
                • Thursday, 7 May, 2020
                  Investments
                  LCF compensation decision looms

                  FSCS could compensate some investors in collapsed mini-bond issuer London Capital Finance

                • Monday, 17 February, 2020
                  UK financial regulation
                  Most investors in collapsed mini-bond issuer London Capital & Finance still waiting on refunds

                  UK compensation scheme has issued payments to 135 out of 11,600 customers

                  FTGraphic London capital and finance on ipad air
                • Friday, 13 December, 2019
                  Correction
                  Correction: Grant Walker

                  Grant Walker is a representative of some victims of the London Capital & Finance mini-bond scandal, not the representative of all of them as incorrectly stated in an article on December 7

                • Tuesday, 26 November, 2019
                  UK financial regulation
                  FCA bans marketing of unregulated mini bonds to retail investors

                  Year-long ban on promoting products at centre of London Capital & Finance scandal described as ‘nuclear option’

                  A logo sits on a sign in the reception area of the Financial Conduct Authority (FCA) in London, U.K., on Thursday. Nov. 21, 2013. The FCA is working with regulators including the U.S. Department of Justice and the Commodity Futures Trading Commission to investigate the potential manipulation of the foreign-exchange market. Photographer: Chris Ratcliffe/Bloomberg
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