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 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 Services Compensation Scheme has declared four more firms in default, two with links to the British Steel Pension Scheme (BSPS).

The Financial Services Compensation Scheme has taken the unusual step of naming two firms suspected of trying to scam LCF mini-bond victims.