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LCF investors to get UK government compensation following regulatory failings

By Fiona Maxwell ( April 19, 2021, 14:48 GMT | Insight) -- LCF bondholders will be able to access a UK government-funded compensation program to recoup 80 percent of their initial lost investments, up to a total of 68,000 pounds, the Treasury said today. The program was announced following a highly critical report of the Financial Conduct Authority's oversight of the failed investment firm and the unique circumstances surrounding the collapse of LCF, as investors would usually not be eligible for government compensation.London Capital and Finance bondholders will be eligible to receive up to 68,000 pounds ($95,000) for their lost investments through a government-funded compensation program, the UK Treasury said today, in an unprecedented move....

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