The Financial Reporting Council, the regulator of auditors, accountants and actuaries, has imposed major fines and sanctions on three audit firms over their failings over the collapse of £237m mini-bond firm London Capital & Finance (LCF) plc.

The Financial Conduct Authority has fined a former director of collapsed £237m mini-bond provider London Capital & Finance (LCF) and banned him from working in financial services.

[Content warning - this article contains references to suicide]

Lawnmower repair man Ian Davis was one of the victims of the £237m London Capital & Finance (LCF) mini-bond collapse scandal.

The Financial Conduct Authority has censured collapsed £237m mini-bond provider London Capital & Finance (LCF) for unfair and misleading financial promotions.