Gov't To Review FCA's Supervision Of Failed Bond Provider

Law360, London (April 1, 2019, 5:18 PM BST) -- An independent government inquiry will be launched into the failings at London Capital & Finance PLC, a provider of mini-bonds that collapsed this year, HM Treasury and the Financial Conduct Authority announced Monday.

The probe will look into whether there were failings by the City watchdog in its supervision of LC&F, which entered into administration in January after netting £236 million ($310 million) by selling the so-called mini-bonds to more than 11,000 investors. Savers have been warned that they could lose 80 percent of their money.

The investigation will also examine whether the existing regulatory system offers adequate protection to retail buyers...

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