The Financial Services Compensation Scheme (FSCS) has paid just under £2.7m to 135 customers of collapsed mini-bond provider London Capital & Finance.
Though mini-bonds are not a regulated product, the lifeboat fund said customers invested in the bonds following transferring out of stocks and shares ISAs, which is considered a regulated activity. The...
Response time pushed back to October
Still processing 590 applications
Concerns surrounding risk management
Kept details private
'Final piece in the puzzle'
Meets increasing demand
Latest purchase adds £382m FUM