Accountancy firm PwC has today been fined £15m for failing to alert the FCA to suspected fraudulent activity at £237m failed mini-bond firm London Capital & Finance plc.

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.

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