Mini-bond provider Vector Wealth has gone into administration today after an application to the High Court by a director of firm to wind up the business.

The Financial Conduct Authority (FCA) has expanded the scope of its ban on the marketing of mini-bonds to retail investors.

The chair of the FCA has promised to act upon the independent review of how the regulator handled the collapse of London Capital and Finance.

The Financial Services Compensation Scheme has paid out just over £20m in compensation to LCF customers, close to a 50% increase since last month.