FCA: Blackmore Bond promotions had 'very relevant risk warnings'

No enforcement action for firms who approved financial promotions

Hope Coumbe
clock • 3 min read

The two organisations that approved the financial promotions of Blackmore Bond sales back in 2017 will not have enforcement action taken against them by the Financial Conduct Authority (FCA).

FCA joint executive director of enforcement and market oversight Therese Chambers wrote to the Treasury Committee yesterday (6 December) confirming this decision, which follows its investigations into the two organisations - NCM Fund Services and Northern Provident Investments. The Treasury Committee was told in the letter that the financial promotions for Blackmore mini-bonds "contained very relevant risk warnings to consumers" and "were largely accurate in what they set out" meaning it would not take action against either promotor organisation. The Blackmore Bond saga - which was ...

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