Fewer London Capital & Finance claims upheld than initially forecast, FSCS confirms
FSCS has revised the 2020/21 supplementary levy due to fewer LCF claims being upheld than initially forecast.
FSCS has revised the 2020/21 supplementary levy due to fewer LCF claims being upheld than initially forecast.
An independent investigation has concluded that the permissions granted by the FCA to LCF were not appropriate.
FSCS has now paid out just over £50.9 million in compensation to 2,584 LCF bondholders who held 3,440 LCF bonds.
The FCA has confirmed proposals to permanently ban the mass-marketing of speculative illiquid securities – including speculative mini-bonds – to retail investors.
The UK Financial Services Compensation Scheme (FSCS) says that there are around 10,200 more claims than had been expected due to LCF pay-outs.
To date, the Financial Services Compensation Scheme (FSCS) has paid out more than £38.1 million in compensation to LCF customers.