FCA To Permanently Ban Minibond Adverts After Scandal

Law360, London (June 18, 2020, 11:32 AM BST) -- Britain's financial regulator set out proposals on Thursday for a permanent ban on adverts for risky "minibond" investments after more than 11,000 savers lost millions of pounds in the implosion of investment company London Capital & Finance.

The City regulator has said it plans to permanently implement the restrictions on the products, which offer high rates of return but which are unregulated. (AP) The Financial Conduct Authority said it plans to fully implement the temporary restrictions introduced in January, permanently banning all adverts for unlisted and illiquid bonds to retail investors.

Minibonds are high-risk investments because they cannot be sold before their...

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