Online trading company London Capital Group (LCG) faces compensation claims of up to £5.5m if over a hundred investor complaints to the FOS succeed, according to a solicitor working on the case.
LCG, which is not to be confused with independent wealth management group London & Capital, confirmed it is dealing with a FOS query relating to commission rebating of a managed spot FX fund in the first half of 2009. In a pre-results trading statement this month, LCG says: "LCG believes that should any liability arise from this, it will be immaterial in the context of the group as a whole." But Alasdair Sampson, a financial services lawyer who has lodged 113 separate investor claims against LCG at the FOS with the help of five IFAs who advised clients to invest in the Forex investmen...
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