September 16, 2021

MPs demand action to stop another London Capital & Finance

Ministers face further scandals on the scale of London Capital & Finance unless they tackle investment fraud with the Online Safety Bill, MPs warn

  • LCF – an unregulated seller of ‘mini-bonds’ – left 11,600 investors facing losses of more than £200m when it collapsed two years ago 
  • Many savers were drawn to the ill-fated scheme by online advertisements, which LCF paid Google £20m to display 
  • It has prompted MPs on the Treasury committee to call on the Government to crack down on advertising for financial products 
  • They are demanding that online advertising be included in the scope of the Online Safety Bill currently going through Parliament 

Read full article here: