Insurers fail to pay mini-bond victims
As bondholders face losing any redress on £46m investment
Duff & Phelps
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UK regulator extends SMCR deadline
But watchdog warns firms not to wait until the last minute
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‘Significant shortfalls’ for investors of failed mini-bond firm
Company only had £906 in its bank account when it entered administration
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7 advice firms hit with FCA skilled-person reviews since 2017
They had to collectively fork out over £300,000 to pay for the investigations
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FCA third-party reviews soar in 2019/20
But retail investment and pension companies received relatively few
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Another mini-bond firm enters administration
It comes after a group of LCF investors launched a crowdfund campaign to challenge the FSCS
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Collapsed Premier Group loses out on £39m debt payment
There is no prospect that Isle of Man-based Premier Group will receive any of the £39m ($50.6m, €44.4m) the company is owed by a waste management company it funded through its New Earth Group collective investment schemes.
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FCA fines rise sharply in 2014 to over £1.47bn
Britain’s Financial Conduct Authority (FCA) penalised firms a total of £1.47bn ($2.3bn) in 2014, though the number of fines fell pushing the severity of the penalties up sharply, according to the 2015 Global Enforcement Review published by Kinetic Partners.