The regulator issued a statement regarding London Capital & Finance plc (LCF) in which it revealed it had ordered the firm to “withdraw all of its existing marketing materials in relation to LCF’s Fixed Rate ISA or Bond.”
In response, the company posted a statement on its website which read: “We are currently in the process of an FCA review and whilst this is being conducted The Financial Conduct Authority has directed London Capital & Finance plc to withdraw all of its existing marketing materials in relation to LCF`s Fixed Rate ISA and Bond.
“In the meantime you can still access your online account to view your investment and you can contact us on 0800 410 1155 if you have any questions.
“We apologise for any inconvenience caused.”
Also on its website LCF says its products are aimed at retail clients who are UK taxpayers and who fall in the category of either High Net Worth Individual, Sophisticated, Self Certified Sophisticated or Restricted Investor.”
It added: “Please note that the products are not regulated by the Financial Services Compensation Scheme.
“Refer to the section on security to see how our protection works.”