The Financial Conduct Authority (FCA) has confirmed that it will not be upholding complaints about the way it handled the Blackmore Bonds case in 2017.
The regulator has today (6 February) written to those who complained about the way it handled the mini-bond saga. Blackmore Bond was an unregulated firm that raised funds by issuing mini bonds. Two regulated firms, NCM Fund Services (NCM) and Northern Provident Investments (NPI), approved the financial promotions for the mini bonds. The FCA said it conducted "thorough enforcement" investigations into NCM and NPI and decided that the financial promotions were largely accurate and contained very relevant risk warnings to consumers, so it did not take enforcement action against either fi...
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