FSCS Weighs Payouts To £236M Mini-Bond Scandal Victims
Law360, London (May 10, 2019, 6:19 PM BST) -- Britain's financial compensation scheme said Friday it is exploring whether investors tied up in a £236 million ($310 million) mis-selling scandal are due redress, a partial U-turn on its previous position.
More than 11,000 customers of London Capital & Finance PLC — which netted £236 million by selling so-called mini-bonds — had been warned their savings could be wiped out when the company collapsed in January, sparking criminal and regulatory investigations.
However, on Friday, the Financial Services Compensation Scheme urged affected LC&F clients to register on its website for updates on possible compensation claims. FSCS said it was working closely with...
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