November 26, 2019 / 7:15 AM / 20 days ago

UK watchdog bans mini bonds marketing in wake of LCF collapse

LONDON, Nov 26 (Reuters) - Britain’s markets watchdog said on Tuesday it will temporarily ban the mass marketing of speculative mini-bonds to retail investors following the collapse of London Capital & Finance (LCF) investment firm.

“We have looked at risks posed by the promotion of speculative illiquid securities, both before and after LCF,” the Financial Conduct Authority (FCA) said in a statement.

The ban will come into force on January 1 and last for 12 months while the FCA would consult on a permanent set of rules.

Reporting by Huw Jones, editing by Sinead Cruise

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