London Capital & Finance plc has failed
6 Mar 2019 04:15 PM
London Capital & Finance plc is in Administration. The Administrators are representatives from Smith & Williamson LLP.
FSCS understands that the firm issued its own mini-bonds to investors on a non-advised basis. This activity is not a regulated activity under the Regulated Activities Order and, therefore, is not FSCS-protected. For this reason, while the firm is insolvent, we’re not accepting claims against the firm.
Should we determine that there are circumstances that give rise to potentially valid claims, we’ll begin to accept claims against London Capital & Finance plc. If this happens, we’ll communicate this to customers on our website. We’re working closely with the Administrators to understand more about how the firm carried out its regulated activities.
More information about the Administration can be found on Smith & Williamson’s website and the London Capital Finance website.