FCA to temporarily ban promotion of speculative mini-bonds

The Financial Conduct Authority (FCA) will temporarily ban the mass marketing of speculative mini-bonds to retail customers for 12 months from 1 January 2020, while it consults on making permanent rules. The financial watchdog said the ban will mean that unlisted, speculative mini-bonds can only be promoted to investors that firms know are sophisticated or high net worth. The move comes ahead of 'ISA season', as it is common for mini-bonds to have ISA status, or claim they do.  The ban will only affect more "complex and opaque" arrangements where the funds raised lend to a third party...