Geo
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I was wondering if anyone had any money tied up with London Capital Finance Plc.? They have released this statement as they are under investigation by the Financial Conduct Authority.
"IMPORTANT NOTICE TO ALL BONDHOLDERS AND BORROWERS
As you will see from the direction from the Financial Conduct Authority (FCA) mentioned above, London Capital & Finance plc (LCF) has been required to withdraw all existing marketing material in relation to its Fixed Rate ISA or Bond. We are currently considering, in conjunction with the FCA, the steps that LCF can take going forward.
In the meantime, LCF is unfortunately unable to make any further loans to borrowers at present, or to make payments of principal or interest to bondholders.
For the avoidance of any doubt, LCF would wish to stress that at the date of this notice no borrower has defaulted on loans made to it and the security taken in respect of each borrower loan remains in place."
I have a couple of bob invested with them and would dearly like to know what brought about the investigation.
"IMPORTANT NOTICE TO ALL BONDHOLDERS AND BORROWERS
As you will see from the direction from the Financial Conduct Authority (FCA) mentioned above, London Capital & Finance plc (LCF) has been required to withdraw all existing marketing material in relation to its Fixed Rate ISA or Bond. We are currently considering, in conjunction with the FCA, the steps that LCF can take going forward.
In the meantime, LCF is unfortunately unable to make any further loans to borrowers at present, or to make payments of principal or interest to bondholders.
For the avoidance of any doubt, LCF would wish to stress that at the date of this notice no borrower has defaulted on loans made to it and the security taken in respect of each borrower loan remains in place."
I have a couple of bob invested with them and would dearly like to know what brought about the investigation.
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