FCA not to take action against Blackmore mini-bond promoters following investigation
7,330 hours were spent on the investigations and over 8,000 documents reviewed
Mini-bonds
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Ex-LCF boss handed 10-month sentence for restraint order breach
But it has been suspended for two years
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Wealth firm that issued mini-bonds enters administration
Around 40 clients invested roughly £4m in the absolute return forex bond
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Over 20 mini-bond companies shut up shop in four years
Regulator does not ‘routinely collect data from firms on their issuing/distribution of these products’
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Appeal costs force LCF victims to drop FSCS legal challenge
Losing could have resulted in a £600,000 bill for bondholders
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High court shuts down 7 mini bond companies
For mis-selling more than £20m in loan notes and taking £2m after they were insolvent
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UK set to impose tougher rules for high-risk investments
‘We have already taken action by banning the mass-marketing of speculative mini-bonds’ says FCA
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UK government to pay £120m to stranded LCF bondholders
One investor defines ‘best outcome we could have hoped for’ as ‘hallelujah moment’
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Mini-bond victims to appeal FSCS judicial review
Judge expressed ‘greatest sympathy’ for investors but dismissed their claim
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FCA urges online platforms to step up check on financial ads
They should cross reference data with international regulators, watchdog CEO says
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FCA admits ‘mistakes’ in mini-bond and collapsed fund scandals
Bondholders will be able to claim compensation from regulator, economic secretary says
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FCA makes mass-marketing ban for mini-bonds permanent
UK financial watchdog introduced a temporary measure at the beginning of 2020