The Treasury is consulting on proposals to make it harder to promote unauthorised financial products via authorised firms.

The Financial Reporting Council, the regulator of auditors, accountants and actuaries, has launched investigations into three audit firms over their audits of collapsed mini-bond firm London Capital & Finance plc (LCF).

The FCA has decided to permanently ban the mass-marketing of speculative illiquid securities, including speculative mini-bonds, to retail investors.

The Financial Services Compensation Scheme (FSCS) has blamed potential claims from the London Capital & Finance (LCF) mini-bond scandal for an additional £44m cost in its £649m 2020/21 budget.