The Financial Services Compensation Scheme has confirmed that some investors in the collapsed mini bond firm London Capital and Finance did in fact receive advice, meaning they could be due redress.
A spokesman says: “Throughout our investigation into LC&F we have been as transparent as possible so that both LC&F investors and our levy payers know where they stand. Having established that there are customers who were given misleading advice and therefore may be eligible for compensation, we now need to determine the full extent of this advising activity.
“We would therefore urge LC&F investors to complete the pre-application questionnaire on our website as this will help us enormously in the next stage of our investigation. We expect this will take a number of months, but we will do all we can to come to a decision as quickly as possible.”
Investors lost more than £200m when LC&F fell into administration