Update to London Capital and Finance Plc investors – 17 September 2020
Together with the Financial Conduct Authority (FCA), we continue to investigate actions relating to the sale of mini-bonds and ISA bonds by London Capital and Finance (LCF). Due to the nature of the case and for legal reasons, we are unable to provide investors with all the information they might want. But we do ask you to regularly check the SFO's case page, and the FCA’s case page for updates.
Giving the FCA and SFO information about investors
We are now asking all investors, whether they lost money as a result of their investment into LCF or not, to complete a questionnaire to give us more information about the circumstances of your investment as well as any potential loss.
We understand that many of you have already sent in information to both teams, through a number of channels, but we would be grateful, even if you have sent in information before, if you could complete this questionnaire.
Information we are asking for
The questionnaire asks for information about your circumstances at the time you decided to invest in LCF products, and for details of your investments and losses. There are some detailed questions so please have any documents you need to hand, and set aside 20-30 minutes to complete the questionnaire.
We will also ask you some questions about your personal circumstances. This is so we can assess if you need any additional support from us. This section is entirely voluntary.
How we will use this information
We will use the information you provide to help both the FCA and SFO investigations. It will also help both agencies to identify any investors we may want to ask for further information.
Question 30 asks if you would be willing to be interviewed and make a statement. If you answer ‘yes’, you may be contacted to provide further information and we might ask you to take part in an interview or to provide a witness statement. This is something which you can decide later, and we will not assume by completing this questionnaire that you have agreed to do this.
So that we can consider you as a potential witness we do ask that you complete the questionnaire by 31 October 2020.
Your responses will be treated as confidential in line with the General Data Protection Regulation and Data Protection Act 2018.
What happens next
The information obtained from the questionnaire will help the FCA and SFO investigations into any wrongdoing by those connected to LCF.
LCF’s estate will be dealt with by the Administrators, who will assess LCF’s assets and put forward proposals as to how they will proceed with the administration. The administration is being dealt with by Smith and Williamson.
How we can help you
- The FCA and SFO are committed to victim care. We will continue to update our websites every few months to let you know how this matter is progressing.
- In the meantime, please:
- see our websites for support information for victim support services and organisations that can provide financial advice
- keep safe any relevant material concerning your investment, as this may be required by the investigation teams
- be aware that personal data you provide the FCA or SFO in connection with this case will be handled in line with the General Data Protection Regulation and Data Protection Act 2018, and may be shared between investigating agencies for law enforcement purposes
- We do appreciate that there is a support network between fellow investor victims in this case, but please consider the possible dangers of sharing your personal information and experience on public access online platforms. Sharing personal details could present opportunities for fraudsters and put you at risk. For more information go to Get Safe Online.
- If you have not already done so, please complete the online questionnaires published on the Financial Services Compensation Scheme (FSCS) and the Smith & Williamson websites.
- You can find more information on the investigations into LCF on the FCA, SFO, FSCS and Smith and Williamson websites.