May 23, 2019 / 11:46 AM / 2 months ago

Britain launches investigation into failed investment firm LCF

LONDON, May 23 (Reuters) - Britain’s finance ministry said on Thursday it has appointed former judge Elizabeth Gloster to investigate the collapse of investment firm London Capital & Finance (LCF) and how it was supervised by the Financial Conduct Authority.

LCF went into administration in January with losses of up to 237 million pounds ($300 million) from unregulated mini-bond investments affecting over 100,000 investors.

The ministry said in a statement it was also undertaking a wider policy review of the regulatory regime for “mini-bonds” and similar types of securities.

$1 = 0.7913 pounds Reporting by Huw Jones; Editing by Mark Potter

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