Four arrested as SFO investigates collapsed London Capital & Finance

'Misleading, unclear, unfair' promotions

Hannah Godfrey
clock • 1 min read

Four people have been arrested as part of a Serious Fraud Office (SFO) investigation into collapsed mini-bond issuer London Capital & Finance (LCF).

The four individuals were arrested on 4 March in the Kent and Sussex areas, the SFO revealed today (18 March), and have since been released pending further investigation. In January, Finbarr O'Connell, Adam Stephens, Colin Hardman and Henry Shinners  of Smith & Williamson were appointed joint administrators of LCF after it was determined to be insolvent. The month before, the Financial Conduct Authority (FCA) had directed LCF immediately to withdraw its promotional material on the basis the way in which it was marketing its bonds was "misleading, not fair and unclear". Among the re...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advisers signal growing dissatisfaction with tech systems

Advisers signal growing dissatisfaction with tech systems

One in four advice firms considering switching practice management systems

Sahar Nazir
clock 25 June 2025 • 2 min read
Advisers told to embrace 'always-on' hybrid advice

Advisers told to embrace 'always-on' hybrid advice

Failing to engage spouses and next-gen clients risks losing long-term relationships

Sahar Nazir
clock 25 June 2025 • 2 min read
Financial services firms absent from Pride celebrations in UK

Financial services firms absent from Pride celebrations in UK

DE&I backlash

Cristian Angeloni
clock 25 June 2025 • 4 min read