FCA to ban promotion of mini-bonds to retail investors

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The FCA is to ban the promotion of mini-bonds to retail investors, unless those customers are sophisticated or high net worth.

The marketing ban comes in from 1 January 2020 and will be in place for 12 months while the FCA consults on making the ban permanent.

The ban follows the high-profile collapse of London Capital & Finance, which fell into administration earlier in the year, owing £236m to more than 11,000 customers.

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