Investors hit by the collapse of £236m London Capital & Finance (LCF) earlier this year have launched a petition aimed at the Treasury, the FCA, Nicky Morgan MP and Antony Townsend the Complaints Commissioner.

The Personal Finance Society (PFS) has backed comments made by Andrew Bailey, chief executive of the FCA, and Charles Randell, chairman of the FCA about the need to simplify the parameter between regulated and unregulated activity.

The Treasury will examine whether mini-bond regulation is fit for purpose after the collapse of £236m London Capital & Finance (LCF) earlier this year.

The government has today officially launched a probe into the circumstances surrounding the collapse of £236m mini-bond firm London Capital & Finance.