The FCA has decided to permanently ban the mass-marketing of speculative illiquid securities, including speculative mini-bonds, to retail investors.

Mini-bond firm Blackmore Bonds has collapsed this week owing £45m to investors in a move that echoes the recent failure of £236m mini-bond firm London Capital & Finance.

Further details of the Independent Investigation into London Capital and Finance have been revealed by the FCA.

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.